Asian hotel performance dips in Q1
Hotels in the Asia Pacific region experienced declines in terms of both rates and occupancy in the first quarter of 2013.
According to the latest data from STR Global, the region’s hotels achieved an average occupancy rate of 65.8% during the first three months of the year, 0.9% down year-on-year, while average daily rates (ADR) fell 1.6% to US$31.58. This caused the region’s revenue per available room (revPAR) to drop 2.5% to US$86.56.
“The Chinese New Year had an effect on Q1 results across the region,” said Elizabeth Winkle, Managing Director of STR Global. “In US dollar terms, the region overall started the year off slow. However, Southeast Asia, Australia and Oceania posted positive revPAR growth during the first quarter. Coinciding with Easter vacation, Southeast Asia reported an almost 6.0% increase in ADR, signifying its continued popularity as a leisure destination for many Europeans”.
In March, the region’s occupancy ended the month 1.0% down year-on-year, at 70.0%, while ADR dropped 0.8% to US$129.44. This pulled revPAR down 1.9% to US$90.60.