STR: Asia Pacific hotel performance for January 2019
Key January takeaways:
- Bangkok sets January occupancy and RevPAR records
- Hong Kong registers second-highest January occupancy
STR’s sample comprises 63,000 hotels and 8.5 million hotel rooms around the globe. Contact email@example.com for additional market data.
26 February 2019
LONDON—Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during January 2019, according to data from STR.
U.S. dollar constant currency, January 2019 vs. January 2018
- Occupancy: -1.3% to 65.9%
- Average daily rate (ADR): +0.6% to US$102.53
- Revenue per available room (RevPAR): -0.7% to US$67.52
Local currency, January 2019 vs. January 2018
- Occupancy: +2.4% to 84.1%
- ADR: +1.6% to THB3,669.85
- RevPAR: +4.0% to THB3,084.65
The absolute occupancy and RevPAR levels were the highest for any January in STR’s Bangkok database. STR analysts note that strong demand (+4.8%) surpassed supply growth (+2.4%) due primarily to large demand increases in the Upper Upscale (+8.8%) and Upper Midscale (+10.2%) segments.
- Occupancy: -0.6% to 90.1%
- ADR: +9.6% to CNY1,260.34
- RevPAR: +9.0% to CNY1,136.04
Supply (+1.8%) slightly outpaced demand growth (+1.2%), causing a slight decrease in occupancy. Regardless, the 90.1% absolute level in the metric was the second highest for any January on record in Hong Kong. According to STR analysts, the opening of the Hong Kong-Zhuhai-Macau Bridge and the Guangzhou-Shenzhen-Hong Kong Rail Link in 2018 has likely helped ease travel and increase inbound arrivals from Mainland China.
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