STR: Asia Pacific hotel performance for August 2018

STR Asia

STR: Asia Pacific hotel performance for August 2018

Hotels in the Asia Pacific region posted positive results across the three key performance metrics during August 2018, according to data from STR.

U.S. dollar constant currency, August 2018 vs. August 2017

Asia Pacific

Occupancy: +1.0% to 75.7%
Average daily rate (ADR): +2.4% to US$109.06
Revenue per available room (RevPAR): +3.4% to US$82.53
Local currency, August 2018 vs. August 2017

Jakarta
Occupancy: +14.7% to 71.5%
ADR: +20.9% to IDR1,221,707.16
RevPAR: +38.7% to IDR 874,006.42

The absolute ADR and RevPAR levels were the highest for any month in STR’s Jakarta database. STR analysts note that the 2018 Asian Games, held 18 August through 2 September, drove a 16.2% increase in demand (room nights sold) in the market.

Tokyo
Occupancy: +1.9% to 86.5%
ADR: +5.2% to JPY18,186.92
RevPAR: +7.2% to JPY15,734.13

STR analysts note that inbound tourism helped push one of the highest-ever August occupancy levels in the market. According to the Japan National Tourism Organization, Japan saw a 4.1% year-over-year increase in international visitors in August. In the latest Market Forecast for Tokyo, STR analysts expect continued growth in RevPAR (+6.0%) in 2019 and 2020.

About STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.

Source = STR
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