STR: ASIA PACIFIC HOTEL PERFORMANCE FOR Q2 2017

STR: ASIA PACIFIC HOTEL PERFORMANCE FOR Q2 2017

LONDON – The hotel industry in the Asia Pacific region reported positive results in the three key performance metrics during the second quarter of 2017, according to data from STR.

Asia Pacific

  • Occupancy: +3.1% to 70.1%
  • Average daily rate (ADR): +0.9% to US$97.39
  • Revenue per available room (RevPAR): +4.1% to US$68.24
  • Local currency, Q2 2017 vs. Q2 2016

Australia

  • Occupancy: -0.2% to 72.7%
  • ADR: +1.8% to AUD176.61
  • RevPAR: +1.6% to AUD128.43

STR analysts note that the country’s demand growth (+1.5%) was somewhat muted in comparison with previous quarters. That led to supply growth (+1.7%) factoring more prominently into overall results. On a 12-month moving average, supply growth has reached 1.7%, which is the highest level in the country since 1999. At the market level, the largest year-over-year supply increases came in Perth (+9.8%) and Brisbane (+5.0%). In terms of performance, Sydney led in absolute values with occupancy at 83.9% (+1.1%) and ADR at AUD213.91 (+6.3%), and STR analysts believe the recently re-opened Sydney International Convention Centre will further bolster the market’s demand, specifically in the Meetings, Incentives, Conferences, and Events (MICE) industry.

China

  • Occupancy: +4.8% to 69.5%
  • ADR: +0.6% to CNY522.78
  • RevPAR: +5.5% to CNY363.23
  • Readmore

Souce: traveldailynews.asia

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