SINGAPORE — The impact of COVID-19 has seen the Asia Pacific hotel industry report all-time lows in the three key performance metrics during March 2020, according to data from STR.
In Singapore, The absolute occupancy and RevPAR levels were the lowest for any month in STR’s Singapore database.
Singapore - Local currency, March 2020 vs. March 2019
Occupancy: -53.6% to 38.3%
ADR: -19.1% to SGD212.40
RevPAR: -62.4% to SGD81.35
In March, China’s absolute occupancy level was up from February (12.8%), which was the lowest occupancy month on record in the country.
Key markets, Beijing and Shanghai, reported decreases in the metric of 78.7% and 73.7%, respectively. China’s ADR remained lower than February (CNY406.22), but RevPAR was up slightly from that second month of the year (CNY52.12).
China - Local currency, March 2020 vs. March 2019
Occupancy: -65.4% to 23.2%
ADR: -35.4% to CNY332.41
RevPAR: -77.6% to CNY76.96
Across Asia Pacific, the absolute levels in each of the three KPIs were the lowest for any month on record in the region.
Asia Pacific - U.S. dollar constant currency, March 2020 vs. March 2019
Occupancy: -59.5% to 28.3%
Average daily rate (ADR): -17.6% to US$80.82
Revenue per available room (RevPAR): -66.7% to US$22.85