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According to data compiled by STR, hotels in the Asia Pacific region reported positive results in the three key performance metrics during August 2017.
In US dollar constant currency, August 2017 vs. August 2016, hotels in Asia Pacific reported an increase in Occupancy of 3.3% to 75.3%, ADR was up 2.3% to $ 99.98 and RevPAR jumped 5.7% to $ 75.33.
In local currency, Occupancy in Maldives fell -2.6% to 64.7%, ADR was up 9.9% to MVR 7,898.31 and RevPAR increased 7.0% to MVR 5,110.69.
A 3.0% year-on-year increase in supply outpaced relatively flat demand (+0.3%) in the country, but rate growth drove hotel performance for the month. Maldives currently has 19 hotel projects accounting for 2,610 rooms in the pipeline, representing 20.0% of the country’s existing supply.
Occupancy in Singapore rose 1.8% to 85.8%, ADR was down -2.6% to SGD 273.20 and RevPAR dipped -0.8% to SGD 234.28.
According to the Singapore Tourism Board, the country welcomed 8.54 million tourist visitors in the first half of 2017, a 4.5% increase from H1 2016. Despite a 3.3% increase in demand driving occupancy levels in August, ADR declined for the 18th consecutive month.
In Thailand, Occupancy was up 2.3% to 80.9%, ADR rose 3.5% to THB 3,440.35 and RevPAR jumped 5.9% to THB 2,782.71.
The absolute occupancy level was the highest for any August on record in the country. According to Thailand’s Ministry of Tourism and Sports, the country welcomed a record 3.13 million tourists in August, which falls in the market’s typical low tourism season. STR analysts note that a stronger Thai baht has yet to deter international visitors, and demand growth (+5.3%) outpaced supply growth (+2.9%) for the month. Thailand currently has 100 hotel projects in the pipeline, accounting for 21,615 rooms, which represents 11% of the country’s existing hotel supply.
