SINGAPORE— Latest hotel performance figures
from STR show mixed results for two major cities in South-east Asia.
Overall, hotels in the Asia Pacific region
reported negative results in the three key performance metrics during Q3 2019,
according to data from STR.
In Kuala Lumpur, the increase in occupancy
was the first for any quarter in the market since Q1 2018.
STR analysts note that quarterly performance
in KL was driven by a 6.8% jump in demand, which included August and September
increases of 11.0% and 8.2%, respectively. When looking at individual segments
of the market, the luxury class saw the highest demand jump (+21.7%). Group
demand reached double digits for the quarter (+15.2%), while transient demand
was up 7.0%.
In Ho Chi Minh City, the decline in
occupancy came as supply (+2.7%) outpaced demand (+0.5%). STR analysts note
that the slowdown in demand could be due to the growing popularity of other
destinations in Vietnam such as Phu Quoc, Da Nang and Hanoi.
When looking at the individual months,
August saw the largest declines in occupancy (-3.9%) and RevPAR (-0.2%).
The details:
US dollar constant currency, Q3 2019 vs. Q3
2018
Asia Pacific
- Occupancy:
-1.7% to 71.0%
- Average
daily rate (ADR): -0.5% to US$98.23
- Revenue
per available room (RevPAR): -2.2% to US$69.72
Local currency, Q3 2019 vs. Q3 2018
Kuala Lumpur, Malaysia
- Occupancy:
+4.6% to 74.6%
- ADR:
-5.8% to MYR331.98
- RevPAR:
-1.4% to MYR247.75
Ho Chi Minh City, Vietnam
- Occupancy:
-2.2% to 67.3%
- ADR:
+4.1% to VND2,610,177.33
- RevPAR:
+1.8% to VND1,755,605.87