Compared with October 2015, the Asia Pacific region reported a 0.5% increase in occupancy to 71.3%. However, average daily rate (ADR) dipped 0.4% to US$103.77, and revenue per available room (RevPAR) was mostly flat (+0.1% to US$74.02).
Hotels in the Asia Pacific region reported nearly flat results in the three key performance metrics when reported in U.S. dollar constant currency, according to October 2016 data from STR.
Compared with October 2015, the Asia Pacific region reported a 0.5% increase in occupancy to 71.3%. However, average daily rate (ADR) dipped 0.4% to US$103.77, and revenue per available room (RevPAR) was mostly flat (+0.1% to US$74.02).
India reported its first month with a decline in occupancy (-4.6% to 59.4%) since November 2015. ADR in the country was up 1.4% to INR5,865.97, but RevPAR still fell 3.2% to INR3,484.48.
STR analysts attribute the performance to a 2.9% increase in supply as well as strong comparison base from last October when hotels recorded an 18.6% increase in demand.
Taiwan’s hotels have struggled since September 2015, and October 2016 was no exception with a 5.5% drop in occupancy to 66.5%. The market recorded relatively flat ADR (+0.2% to TWD5,773.02) for the month, but RevPAR declined 5.4% to TWD3,841.15.
Beijing, China, registered a 0.4% increase in occupancy to 77.2% in addition to a 2.0% rise in ADR to CNY594.63. As a result, RevPAR grew 2.4% to CNY459.16. The market’s supply has remained stable (+0.7% year to date), allowing an increase in demand (+3.4% year to date) to boost performance.
Hong Kong reported positive figures across all three key performance indicators for the first time since April. Occupancy increased 0.6% to 90.6%. ADR was nearly flat, up 0.1% to HKD1583.05, and RevPAR grew 0.7% to HKD1,433.55.
STR analysts note that performance increases were strongest on Fridays and Saturdays during the month, suggesting that leisure business is a driver of growth in the market.
This also marked the first time since 2011 in which Hong Kong recorded year-over-year RevPAR growth for an October, following particularly sharp declines in October 2015 (-6.8%) and 2014 (-10.8%).