New data from STR Global, a provider of market information to the global hotel industry, shows that hotels in the Asia Pacific region experienced double-digit decreases in occupancy, average daily rate (ADR) and revenue available per room for March 2009. Occupancy fell 14.4 percent to 60.6 percent; average daily rate declined 19.5 percent to $117.46; and revenue per available room (RevPAR) fell 31.1 percent to $71.14.
“China and India, previously such exciting markets, have fallen in RevPAR 35 percent and 39 percent, respectively (when reported in local currency). Singapore is hard on their heels with a 28 percent fall in RevPAR year on year,” said James Chappell, managing director of STR Global. “Other southeast Asia countries that have been experiencing a boom recently are also feeling the pinch with Vietnam falling 27 percent and Thailand falling 36.5 percent in RevPAR. It’s not all bad news however, with Australia only dropping in RevPAR 5 percent, the Philippines growing 4.7 percent, Indonesia 6.7 percent and South Korea 14 percent. We expect India to stabilise somewhat in the coming months, but China, and especially Beijing, is in for a tough few months in the year after the Olympics.”
Seoul reported the only double-digit increase in occupancy, which jumped 12.5 percent to 84 percent. Melbourne, also reported an occupancy increase, up 1.1 percent to 79.7 percent. Beijing, reported the largest occupancy decrease (-29.3 percent to 49.8 percent), followed by Bangkok closely with a 29 percent decrease, down to 55 percent for the month.
Average Daily Rate
Bali experienced a 5.3 percent increase in average daily rate up to $102.72, while Tokyo, was up 4.1 percent to $216.68. New Delhi and Mumbai reported the largest decreases, down 43.8 percent to $185.03 and 40.2 percent to $174.91, respectively.
Osaka (-6.5 percent to $94.94) and Tokyo (-5.5 percent to $157.13) in Japan experienced single digit decreases while five markets reported RevPAR decreases of more than 40 percent: New Dehli (-55.2 percent to $120.76); Phuket, Thailand (-48.7 percent to $65.85); Mumbai (-48.1 percent to $108.09); Beijing (-44.3 percent to $49.60); and Bangkok (-42.7 percent to 52.26).