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Hotel occupancy in the Asia Pacific region rose sharply in January 2013, as demand rose due to Chinese New Year.
Hotel occupancy in the Asia Pacific region rose sharply in January 2013, as demand rose due to Chinese New Year. According to the latest data from STR Global, the region’s hotels were 65.2% full in the first month of the year – 7.7% more than in January 2012. This comparison is distorted however, as Chinese New Year fell in January this year and February in 2012. Interestingly however, average daily rates (ADR) fell significantly – down 6.3% year-on-year to US$130, despite the increased demand for rooms. Region-wide revenue per available room (revPAR) climbed 1.0% to US$85. The decline in ADR was most noticeable in China, where rates fell 10.7% year-on-year to CNY623 (US$99). But like the regional results, this was more-than-offset by a steep rise in occupancy, which jumped 18.9% to 60.8%. In Singapore however, which also has strong Chinese New Year booking trends, ADR climbed 3.1% to SG$295 (US$238), while occupancy remained at a strong 80.5%. Four Asian cities experienced occupancy growth of more than 20% in January 2013: Ho Chi Minh City (+37.6% to 76.3%), Shanghai (+33.3% to 57.7%), Hanoi (+28.4% to 68.0%) and Beijing (+23.5% to 63.5%), while Taipei saw the strongest ADR growth, rising 24.3% to US$202. |
