SINGAPORE, 24 January 2020: Hotels in the Asia Pacific region reported a negative performance with occupancy slipping 1.3% and the average rate down 2%.
STR measures the 2019 performance of the region’s hotels using three key performance metrics.
In US dollar constant currency, 2019 versus 2018, STR data on hotels in the Asia Pacific region showed occupancy declined 1.3% to 69.3%, average daily rate (ADR) dropped 2.0% to USD98.73, and revenue per available room (RevPAR) slumped 3.2% to USD68.38
STR highlighted local currency performance in specific cities for 2019 compared with 2018.
Occupancy: -1.9% to 82.5%
Average daily rate (ADR): -3.0% to AUD220.50
Revenue per available room (RevPAR): -4.8% to AUD181.81
Sydney performance had been trending downward for most of the year, largely due to supply growth (+2.0%) and overall flat demand. STR analysts note that the devastating bushfires in Australia created an added burden on performance late in the year, especially in the areas surrounding Sydney.
The worst drop in December RevPAR occurred in Sydney Drive Regional (-29.5%), a submarket within a two-hour-drive radius of Greater Sydney.
Occupancy: +4.9% to 73.0%
ADR: +3.4% to INR6,581.95
RevPAR: +8.5% to INR4,801.75
Delhi recorded its fifth consecutive year of RevPAR growth, and the absolute occupancy level was the market’s highest for any year since 2007. STR analysts point to a 7.1% jump in demand as the driver of that performance. November was the strongest month of the year for RevPAR growth due to the Diwali festival calendar shift from November in 2018 to October in 2019.