SINGAPORE, 25 September 2020: The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels, according to August 2020 data from STR.
Based on US dollar constant currency, August 2020 when compared with the same month in 2019 recorded an occupancy decline of 31.0% to 50.8%.
Average daily rate (ADR) declined 27.3% to USD69.81.
Revenue per available room (RevPAR) slumped 49.8% to USD35.48.
Each metric was the lowest for any August on record in the region.
Based on local currency calculations, STR releases data on specific country markets.
Occupancy: -61.9% to 23.0%.
ADR: -30.1% to INR3,498.04.
RevPAR: -73.4% to INR805.34.
Each of the three key performance metrics was up from July, but occupancy and RevPAR remained the lowest for any August on record in the country.
Occupancy: -11.9% to 64.2%.
ADR: -15.2% to CNY422.05.
RevPAR: -25.4% to CNY271.11.
The occupancy and RevPAR levels were the highest for any month in China since November 2019, while the ADR level was the highest since January 2020.
Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore.