SINGAPORE, 13 December 2023: Jakarta hotels recorded their highest occupancy and revenue per available room (RevPAR) since November 2011 and November 2013, respectively, according to preliminary data from CoStar.
CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
November 2023 (year-over-year % change)
Occupancy: 79.8% (+10.9%)
Average daily rate (ADR): IDR1,030,269.24 (+10.4%)
Revenue per available room (RevPAR): IDR822,163.52 (+22.5%)
Jakarta hosted several events that helped performance last month, including a Coldplay concert and IndoBuildTech Expo.
Daily data shows the highest occupancy levels occurred on Wednesday, 15 November (92.7%), the night of the Coldplay concert, closely followed by Thursday, 16 November (89.1%). Jakarta’s occupancy levels remained above 70% for all but three days during the month.
For more information about the company and its products and services, please visit www.costargroup.com
(Source: CoStar Group)
