STR Reports February 2014 Performance of Hotels in Asia; Hotels in Bangkok Suffer

According to data compiled by STR Global, hotels in Asia Pacific experienced mostly positive performance results during February 2014 when reported in U.S. dollars.

The region’s occupancy for February rose 8.1% to 67.1%, ADR dropped 4.6% to US$125.03, and RevPAR increased 3.1% to US$83.88.

“Asia Pacific saw positive occupancy growth this month, primarily driven by Northeast Asia—and particularly China,” said Elizabeth Winkle, managing director of STR Global. “The timing of the Chinese New Year positively impacted performance celebrations occurred in January and February. Bangkok has been impacted by the political situation, so we are seeing a significant decline in occupancy. However, we have not seen a significant impact on the beach markets. The Australia and Oceania markets are hitting high occupancy levels, approximately 90%, including Auckland (91.2%), Sydney (90.1%) and Melbourne (86.0%).”

Highlights from key market performers for February 2014 in local currency (year-on-year comparisons):

- Shanghai, China, reported the largest occupancy increase, rising 29.9% to 58.7%, followed by Beijing, China (+25.3% to 57.7%), and Hanoi, Vietnam (+20.6% to 72.0%).

- Bangkok, Thailand, fell 34.0% in occupancy to 54.7%, posting the largest decrease in that metric.

- Jakarta, Indonesia (+16.5% to IDR1,261,365.74), and Bali, Indonesia (+14.8% to IDR1,445,004.17), experienced the largest ADR increases.

- Mumbai, India, fell 2.8% in ADR to INR7,930.13, reporting the largest decrease in that metric.

- Four markets experienced RevPAR increases of more than 25%: Shanghai (+31.7% to CNY330.33); Taipei, Taiwan (+30.7% to TWD4,243.50); Beijing (+26.8% to CNY293.68); and Bali (+25.9% to IDR1,002,603.71).

- Bangkok fell 34.7% in RevPAR to THB1,765.14, reporting the largest decrease in that metric.

Highlights from key market performers for February 2014 in U.S. dollars (year-on-year comparisons):

- Auckland, New Zealand, rose 9.4% in ADR to US$139.29, reporting the largest increase in that metric.

- Mumbai reported the largest ADR decrease, falling 15.5% to US$127.82 in February.

- Four markets achieved RevPAR increases of more than 20%: Shanghai (+35.2% to US$53.89); Beijing (+30.1% to US$47.92); Taipei (+27.8% to US$139.80); and Hanoi (+22.1% to US$80.00).

- Bangkok fell 40.3% in RevPAR to US$54.06, posting the largest decrease in that metric.