The main Thai hotel markets of Phuket and Bangkok have emerged as the star regional performers with good revenue growth during April.
But many other Asia Pacific hoteliers had a soft month with STR Global reporting that regional occupancy rates fell 0.5% decrease to 68.6%, average daily rate dropped 2.3% to US$127.20 and revenue per available room (REVpar) was down 2.8% US$87.22.
“The Asia/Pacific region, with a 2.6-percent decrease in RevPAR, reported modest declines in all three key performance metrics during the first four months of 2013 as reported in U.S. dollars”, said Elizabeth Winkle, managing director of STR Global.
“RevPAR in Dehli NCR dropped 20.5 percent year to date through April, as the supply and demand imbalance in the market continues to create challenges.
“The strongest performance in the region has been in Thai markets of Phuket and Bangkok, with RevPAR growth of 14.2 percent and 24.2 percent, respectively.
“Last year, Thailand had a strong recovery from political strife and flooding in 2012, and that growth trajectory continued through 2013 as the country reports even stronger demand figures”.
Highlights from key market performers for April in local currency (year-over-year comparisons):
- Ho Chi Minh City, Vietnam, rose 10.6% in occupancy to 70.4%, reporting the only double-digit increase in that metric.
- Three markets experienced double-digit occupancy decreases: Taipei, Taiwan (-15.5% to 66.7%); Seoul, South Korea (-13.9% to 73.2%); and Bali, Indonesia (-11.1% to 59.3%).
- Four markets experienced double-digit room rates increases: Jakarta, Indonesia (+16.2% to IDR1,071,059.68); Taipei (+11.1% to TWD6,061.25); Osaka, Japan (+10.8% to JPY11,453.44); and Tokyo, Japan (+10% to JPY15,949.71).