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Hotels in the Asia Pacific Region Report Negative Results for July 2019

STR

  • Hong Kong performance impacted by ongoing protests
  • Singapore breaks occupancy record

Hotels in the Asia Pacific region reported mostly negative results across the three key performance metrics during July 2019, according to data from STR.

U.S. dollar constant currency, July 2019 vs. July 2018

Asia Pacific

• Occupancy: +0.2% to 73.2%
• Average daily rate (ADR): -1.5% to US$95.48
• Revenue per available room (RevPAR): -1.3% to US$69.91

Local currency, July 2019 vs. July 2018

Hong Kong

• Occupancy: -4.1% to 83.4%
• ADR: -9.1% to HKD1,163.21
• RevPAR: -12.9% to HKD970.42

STR analysts note that ongoing protests in Hong Kong have affected performance levels in the market. Hotel demand for the month fell 3.0%, and preliminary figures show a double-digit decline in visitor arrivals during the second-half of July, according to the Hong Kong Tourism Board. That steep drop follows a first half of the year that showed a 13.9% increase in visitor arrivals.

Singapore

• Occupancy: +1.9% to 91.8%
• ADR: +0.5% to SGD268.79
• RevPAR: +2.4% to SGD246.80

The country eclipsed 90% occupancy for the first time in history. STR analysts note that the transient segment (bookings of less than 10 rooms) produced strong demand growth (+7.1%) during the month, while group (bookings of 10 or more rooms) demand fell 7.2%. According to the Singapore Tourism Board, the country welcomed 9.3 million international visitors during the first six months of 2019.

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