STR Global: Asia/Pacific hotel results for May
LONDON—Hotels in the Asia/Pacific region experienced decreases in the three key performance metrics in May 2013 when reported in U.S. dollars, according to data compiled by STR Global.
In May, the Asia/Pacific region’s occupancy ended the month with a 1.3-percent decrease to 65.9 percent, its average daily rate dropped 2.5 percent to US$119.69 and its revenue per available room was down 3.8 percent to US$78.82.
“In U.S. dollars, Asia/Pacific was the only global region to report negative RevPAR growth year-to-date 2013, falling 3.1 percent”, said Elizabeth Winkle, managing director of STR Global. “The RevPAR decrease was mainly driven by Central/South Asia, where countries such as India are suffering from oversupply, and in Northeastern Asia, where countries such as China are reigning in spending. However, Southeast Asia is reporting strong growth, where markets such as Jakarta are posting an 18.2 percent growth in ADR year-to-date 2013; ADR growth is driving RevPAR performance in this region”.
Highlights from key market performers for May in local currency (year-over-year comparisons):