STR Global: Asia/Pacific results for February March 21 2014
Hotels in the Asia Pacific region experienced mostly positive performance results during February 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy for February rose 8.1 percent to 67.1 percent; its average daily rate dropped 4.6 percent to US$125.03; and its revenue per available room increased 3.1 percent to US$83.88.
“Asia Pacific saw positive occupancy growth this month, primarily driven by Northeast Asia—and particularly China”, said Elizabeth Winkle, managing director of STR Global. “The timing of the Chinese New Year positively impacted performance celebrations occurred in January and February. Bangkok has been impacted by the political situation, so we are seeing a significant decline in occupancy. However, we have not seen a significant impact on the beach markets. The Australia and Oceania markets are hitting high occupancy levels, approximately 90 percent, including Auckland (91.2 percent), Sydney (90.1 percent) and Melbourne (86.0 percent)”.
Highlights from key market performers for February 2014 in local currency (year-over-year comparisons):