Asia-Pacific hotels report all time-low

Wednesday, April 29, 2020

According to data from STR, hotels across the Asia Pacific reported all-time lows in three key performance metrics during March.

Considering the US dollar constant currency comparing March with the same month last year occupancy slumped 59.5% to 28.3%. Average daily rate (ADR) declined 17.6% to USD 80.82 while revenue per available room (RevPAR) dropped 66.7% to USD 22.85.  It was noted that the  absolute levels in each of the three KPIs were the lowest for any month on record in the region.

STR highlighted specific destination markets during March based on the local currency. Data showed green shoots of recovery with China’s absolute occupancy level up from February (12.8%), which was the lowest occupancy month on record in the country. While the absolute occupancy and RevPAR levels were the lowest for any month in STR’s Singapore database.

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