Hotels in the Asia Pacific region reported negative results in the three key performance metrics during October 2019, according to data from STR.
U.S. dollar constant currency, October 2019 vs. October 2018
- Occupancy: -0.9% to 71%
- Average daily rate (ADR): -2.4% to US$100.25
- Revenue per available room (RevPAR): -3.4% to US$71.16
Local currency, October 2019 vs. October 2018
- Occupancy: +5.5% to 65.6%
- Average daily rate (ADR): -5.5% to THB2,813.53
- Revenue per available room (RevPAR): -0.3% to THB1,846.25
STR analysts note that group demand (+40.3%) drove the lift in occupancy, while demand in the transient segment fell 1.8%. Hoteliers may have lowered rates due to the appreciation of the Baht and a more competitive marketplace with a 3.1% rise in room inventory from last October.
- Occupancy: -2.8% to 87.9%
- Average daily rate (ADR): +19.5% to JPY23,663.64
- Revenue per available room (RevPAR): +16.2% to JPY20,808.51
The decline in occupancy was due to a surge in new supply (+6.9%) outpacing demand (+4.0%). However, STR analysts note that performance was boosted by the Rugby World Cup 2019 (20 September through 2 November). Tokyo saw a double-digit increase in ADR (+46.7%) and a subsequent jump in RevPAR (+44.3%) during the knockout stage of the event (19 October through 2 November).