asia hotel performance
More Asian Countries Stay Ahead of 2023 Levels, Japan Maintains Significant Rate Growth
CoStar Group | May 24, 2024
Analysis by Eddie Yeung Note: All financial figures presented in US$. STR's global "bubble chart" update for the four weeks ending 18 May 2024 shows 72% of markets with year-over-year growth in revenue per available room (RevPAR). That level was up from 60% in the previous update. Japan and South East Asian market led the growth. Among countries with 50,000 rooms and adequate hotel reporting levels, Singapore, Switzerland, France, and Italy posted the highest RevPAR on an actual basis. While Singapore and Switzerland remained leaders in actual levels, their RevPAR was moderately lower year over year by 1.7% and 5.2%, respectively. ...
Hotel Market Report: Asia’s Path Forward in 2024
HotStats | December 15, 2023
By Tareq Bagaeen Earlier this week I was talking to a regional commercial head of Asia for one of the world’s largest hotel chains and the view forward into 2024 is one of concern, to say the least. At the moment, the hotel benchmarking data look goods; for many destinations within this region, 2023 was a record year both in terms of topline revenue as well as Gross Operating Profit (GOP). Expectations are significant for the coming year; thus, the higher than usual level of apprehension. Let us start with the GOP king of Asia, and, all the world: Maldives. A destination that has a GOP figure of just under 300 USD per...
