Rising occupancy in Asia Pacific with Japan leading on hotel rates

ASIA – According to travel research group STR Global, hotels in the Asia Pacific region reports rising occupancy in the latest monthly figures released, for April, increasing 1.6% to 69.6%. The year-on-year results over three key performance metrics, however, paint a more varied picture. On the downside, the region’s average daily rate dropped 5.6% to US$109.77, and its revenue per available room (RevPAR) decreased 4.1% to $76.43. The results of each country varied significantly on a local-currency basis: Japan saw the largest increases in ADR (+14.3% to JPY14,598 = US$117.1) and RevPAR (+17.4% to JPY12,277.33). Occupancy in Japan also increased 2.7% to 84.1%; it has become a more affordable destination due to the devaluation of the yen.https://www.www.c-mw.net/thailand-connects-with-japanese-buyers-at-tokyo-roadshow/ Thailand experienced the largest increase in occupancy (+13.5% to 72.4%) and saw a double-digit rise in RevPAR (+11.5% to THB2,519 = US$74.57). Thailand’s year-over-year comparisons continue to improve, mostly in Bangkok, as the country moves on from last year’s coup d’état. New Zealand posted a significant increase in RevPAR (+13.3%) with demand growth outweighing supply growth. Myanmar has seen occupancy rates fall by a massive one third and RevPAR plummeting 37.3%. China reported modest increases in occupancy (+1.6% to 67.9%) but saw rates drop 3.2% and RevPAR 1.7%. STR blames the performance declines in Hong Kong, where government spending has been cut.