SINGAPORE – Hotels in Asia Pacific region have reported a slide in three key performance metrics for the month of October.
According to data from research firm STR, occupancy in hotels across Asia Pacific for October fell 0.9% to 71%. The average daily rate (ADR) dropped 2.4% to US$100.25 while the revenue per available room (RevPAR) dipped 3.4% to US$71.16.
The Thai coastal city of Phuket, however, saw a 5.5% rise in occupancy to 65.6%, although the ADR dropped 5.5% to THB2,813.53 (US$93.08) and RevPAR saw a 0.3% decline to THB1,846.25.
STR analysts noted that group demand (+40.3%) drove the lift in occupancy, while demand in the transient segment fell 1.8%. Hoteliers may have lowered rates due to the appreciation of the Baht and a more competitive marketplace with a 3.1% rise in room inventory from last October.
Over in Tokyo, hotels enjoyed a 19.5% rise in ADR to JPY23,663.64 (US$217.57) and a 16.2% growth in RevPAR to JPY20,808.51, even though occupancy rate dropped 2.8% to 87.9%.
According to STR, the decline in hotel occupancy in Tokyo was due to a surge in new supply (+6.9%) outpacing demand (+4.0%). However, STR analysts note that performance was boosted by the Rugby World Cup (Sept 20 to Nov 2). Tokyo saw a double-digit increase in ADR (+46.7%) and a subsequent jump in RevPAR (+44.3%) during the knockout stage of the event (Oct 19 through Nov 2).
STR provides data benchmarking, analytics and marketplace insights for global hospitality sectors. Its sample comprises 67,000 hotels and 9 million hotel rooms around the globe.