The region’s occupancy during May rose 3.2% to 67.6%; its ADR ended the month virtually flat with a 0.1% increase to $115.10; and its RevPAR increased 3.3% to $77.80. HNN Newswire LONDON—Hotels in the Asia Pacific region experienced positive results during May 2014 when reported in U.S. dollars, according to data compiled by STR Global. The region’s occupancy during May rose 3.2 percent to 67.6 percent; its average daily rate ended the month virtually flat with a 0.1-percent increase to US$115.10; and its revenue per available room increased 3.3 percent to US$77.80. “One of the strongest performers in the region in terms of occupancy growth was the Philippines, rising 13.7 percent to 70.6 percent due to an increase in demand of 17.6 percent”, said Elizabeth Winkle, managing director of STR Global. “Indonesia reported positive rate growth in May, rising 10.7 percent. This is one of the highest increases in the region, primarily driven by Jakarta, which increased rates by 12.1 percent. Thailand continues to experience decreases in both occupancy (-12.6 percent) and RevPAR (-10.2 percent), while ADR continues to grow. Singapore and Hong Kong traditionally tend to follow each other in ADR growth. Year to date, Singapore is outpacing Hong Kong, as rates grew 2.9 percent and 1.6 percent, respectively”. Highlights from key market performers for May 2014 in local currency (year-over-year comparisons):
Highlights from key market performers for May 2014 in U.S. dollars (year-over-year comparisons):
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