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August 12, 2022

Asia Pacific hotel performance for 2017

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The hotel industry in the Asia Pacific region reported positive results in the three key performance metrics during April 2017, according to data provided by STR. However, the Philippines’ performance was negatively affected by the Easter calendar shift (March 2016 to April 2017), and demand dropped by 1.9% year over year.

From an occupancy percentage of 74.4 in the Philippines, it dropped to 70% as per the 2016-2017 statisticsManila experienced the most significant performance loss, with a 7.4% decline in RevPAR. Meanwhile, RevPAR grew 28.2% for Cebu Metro submarket and 24.3% for the Philippines Area market. STR analysts attribute that growth to domestic travel during the holiday.

Singapore on another hand has seen increased competition for events from destinations in Vietnam and Myanmar. The addition of nearly 2,000 rooms to Singapore’s hotel supply during the past 12 months has weighed on performance. STR analysts note that a decline in events held in the market also has contributed to a 9.0% decrease in Group (bookings of 10 or more rooms at a time) occupancy through April.

Unlike the Philippines and Singapore, Japan, an outstanding market was helped by the Hanami Cherry blossom season wherein a total of 4.0% increase in hotel demands were experienced. That rise in rooms sold came as the country reported 1.8% growth in supply, which was the highest for any month in Japan since March 2012. At the market level, Kyoto posted a 7.3% increase in supply, while Tokyo posted a 4.8% increase. At the same time, each market reported occupancy above 90%.

 


 


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