Hong Kong hotels enjoy revenue growth

October 12, 2017 by  
Filed under Hospitality, News, North Asia

LONDON, 12 October 2017: Despite a supply growth of 3.1% in rooms, Hong Kong hotels enjoyed their first  RevPAR increase for the month of September since 2013.

RevPAR, or revenue per available room, grew 4.5% to HKD1,84.03  for Hong Kong’s hotels.

STR issued what it calls  preliminary data for September, Wednesday,  that showed hotels in Hong Kong have seen rate-driven performance growth. Read more

STR renews partnership with PATA

October 4, 2017 by  
Filed under News, Singapore

SINGAPORE, 4 October 2017:  STR, a data benchmarking and analytics specialist, has renewed its preferred partnership with the Pacific Asia Travel Association (PATA), a not-for-profit membership association that represents travel and tourism in the Asia Pacific region.

“I’m very excited to continue this partnership between STR and PATA,” said STR’s regional manager for Southeast Asia, Bernard Kee. “This collaboration outlines strategic cooperation that reinforces the values of the Asia Pacific’s visitor economy and promotes the importance of data and analytics in the hotel industry.”

With the partnership, PATA will benefit from STR’s reporting sample and marketplace insights, covering more than 8,700 hotels in the Asia Pacific region. In turn, STR will receive opportunities to drive further awareness of its range of products and services for hotels across the region. Read more

Singapore’s hotel rates down

September 14, 2017 by  
Filed under Hospitality, News, Singapore

LONDON, 14 September 2017; Singapore’s hotels continued to enjoy occupancy growth in August, but at lower rates, STR’s preliminary August data revealed.

Based on daily data for August, Singapore reported year-over-year comparisons that showed room supply had increased by 1.5% and consumer demand grew 3.2%

Singapore hotels enjoyed an average occupancy growth of 1.7% to reach 85.9% across total room capacity. Read more

Asia Pacific hotels achieve gains

August 25, 2017 by  
Filed under Hospitality, News

LONDON, 25 August 2017: Hotels in the Asia Pacific region reported positive results in three key performance metrics during July 2017, according to data from STR.

Asia Pacific hotels reported increases in occupancy of 3.8% to achieve an average of 74.4% across the region.

Average daily rate (ADR) improved 1.9% to USD97.67, while revenue per available room (RevPAR) improved 5.7% to USD72.66 Read more

STR monitors regional hotel expansion

July 17, 2017 by  
Filed under TRENDING

LONDON, 17 July 2017: STR’s June 2017 Pipeline Report shows 612,210 rooms in 2,767 hotel projects under contract in the Asia Pacific region.

The total represents a 6.2% increase in rooms under contract compared with June 2016.

Under contract data includes projects in the in construction, final planning and planning stages, but does not include projects in the unconfirmed stage. Read more

More visitors fewer dollars

July 14, 2017 by  
Filed under Hospitality, News, Singapore

SINGAPORE, 14 July 2017: Singapore’s hotels are enjoying higher occupancy in June, but it comes at the expense of average daily rate, according to the latest STR report.

STR’s preliminary June 2017 data for Singapore shows an increase in supply of 2.3% for the island state’s hotels, but demand for rooms also increased by 6.5%.

Based on daily data from June, the year-over-year comparisons showed occupancy improved 4.1% to 78.9% Read more

Asia-Pacific hotel pipeline grows

May 17, 2017 by  
Filed under Hospitality, News

LONDON, 17 May 2017: STR’s latest Pipeline Report for April shows 608,581 rooms in 2,753 hotel projects under contract in the Asia Pacific region.

Shanghai reported the highest number of project in the pipeline representing an addition of more than 10,000 rooms.

The total pipeline performance in the region represents a 3.8% increase in rooms under contract compared with April 2016. Read more

Regional hotel rates soften

March 24, 2017 by  
Filed under Hospitality, News

LONDON, 24 March 2017: Hotels in the Asia Pacific region reported mixed revenue and occupancy results during February 2017, according to the latest data from STR.

Based on US dollar constant currency, year-over-year comparisons, hotels in the Asia Pacific region saw occupancy increase by 8% to an average 68.7% during February.

However the average daily rate (ADR) slipped 5% to USD102.95. Read more

Singapore hotels rates decline

March 14, 2017 by  
Filed under Hospitality, News, Singapore

LONDON, 14 March 2017: Additional room supply continues to put Singapore’s hotels under pressure according to the latest STR’s preliminary for February

The data showed Singapore enjoyed a slight occupancy growth, but at the cost of significantly lower rates.

Figures based on daily data in February showed supply increased 4% and demand for hotel rooms 4.9%. Read more

STR monitors Asia Pacific hotel trends

February 24, 2017 by  
Filed under News, PACIFIC

LONDON, 24 February 2017: Hotels in the Asia Pacific region reported a moderate occupancy decline, but a strong rate growth in January 2017, according to the latest  data from STR.

Based on US dollar constant currency, year-over-year comparisons, for the Asia Pacific region, the average daily rate increased 4.6% to USD108.10.

Occupancy across the region declined 0.8% to 64.8% Read more

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