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Published on : Wednesday, June 24, 2015
Hotels in the Asia Pacific region experienced mixed year-over-year results in the three key performance metrics during May 2015 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy for May increased 1.4 percent to 68.1 percent. However, average daily rate in the Asia Pacific region dropped 6.9 percent to US$105.54, and its revenue per available room decreased 5.7 percent to US$71.84.
Performance by country varied significantly on a local-currency basis:
Thailand reported the largest increases in occupancy (+22.9 percent to 68.3 percent) and RevPAR (+20.9 percent to THB2,151.01). ADR in Thailand was down 1.6 percent to THB3,150.54. Thailand’s performance continues to improve in year-over-year comparisons, most notably in Bangkok, as the country is further removed from last year’s coup d’état.
Myanmar experienced the steepest decline in occupancy (-27.4 percent to 41.4 percent) and RevPAR (-26.4 percent to MMK69,522.58). The country continues to be affected by a significant amount of new supply in the market.
French Polynesia posted the largest increase in ADR, rising 16.2 percent to XPF40,657.53. Japan followed with a 12.9-percent rise in ADR to JPY14,666.02.
South Korea reported the largest decrease in ADR, down 6.9 percent to KRW184,206.00.
Japan (+16.2 percent to JPY12,223.56) and French Polynesia (+15.8 percent to XPF28,762.75) also posted double-digit increases in RevPAR.
According to STR Global analysts, the devaluation of the Japanese Yen has made Japan a cheaper option for travellers.
South Korea (-13.4 percent to KRW129,804.99) and Maldives (-10.6 percent to MVR5,257.00) were the two markets in addition to Myanmar to report double-digit drops in RevPAR.
Highlights from key market performers for May 2015 in local currency (year-over-year comparisons):
Source: STR Global.