Hotels in Asia Pacific Report February 2017 Increase in OR and RevPAR

Thu, 23 March 2017

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Hotels in Asia Pacific Report February 2017 Increase in OR and RevPAR

According to data compiled by STR, hotels in the Asia Pacific region reported mixed results in the three key performance metrics for February 2017.

In U.S. dollar constant currency year-on-year comparisons, occupancy in the Asia Pacific region grew by 8.0% to 68.7% while ADR fell 5.0% to US$102.95 and RevPAR increased 2.6% to US$70.67.

Local currency, Year-on-Year Comparisons

In Australia occupancy was flat at 77.8%, ADR fell 0.6% to AUD194.09 and RevPAR decreased 0.6% to AUD151.06.

Avani Riverside Hotel in Bangkok, Thailand

Australia’s performance was stable as supply and demand grew at an identical rate (+1.8%). At the market level, Sydney benefitted from the Chinese New Year as well as Tropfest (7-11 February) events. The market’s absolute RevPAR level (AUD231.57) was the second-highest on record behind only September 2000 (Summer Olympics).

In Taiwan occupancy fell 4.9% to 56.7%, while ADR was down 8.9% to TWD5,347.32 and RevPAR fell 13.4% to TWD3,033.41.

For January, the Taiwan Tourism Bureau reported a 30.2% decrease in such arrivals while Mainland Chinese visitors made up the largest percentage (31%) of Taiwan’s total international arrivals. February hotel supply growth was marginal (+0.4%), but demand fell significantly (-4.6%).

In Thailand occupancy decreased by 1.6% to 86.1%, ADR fell 4.2% to THB4,091.44 and RevPAR dropped 5.7% to THB3,523.94.

Similar to Taiwan, STR analysts attribute some of Thailand’s performance declines to a decrease in arrivals from Mainland China. According to the Association of Thai Travel Agents, arrivals from Mainland China decreased 23.1% from 1 January to 10 March 2017 when compared with the same date range in 2016. Meanwhile, supply growth across the country (+2.7%) was more than double the rate of demand growth (+1.1%). Significant RevPAR declines were seen in two of Thailand’s largest markets, Bangkok (-4.3%) and Phuket (-5.3%).

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