Asia Pacific Hotel Performance
APAC: Economic Boom or Financial Gloom?
HotStats | July 3, 2024
By Tareq Bagaeen 2024 has been very intense. Throughout my career as a hotelier, I've gone through 9/11, a few wars, a world financial crisis, pandemics, and a tsunami to name but a few significant milestones. And yet, 2024 has been the most intense year for me thus far in the quarter century of hospitality life. So, what is going on? It seems like my email inbox is impossible to keep clean. Projects keep stacking up one after another, I've already flown over 185,000 miles in 180 days, and every time I open LinkedIn, I find news of a major new signing or opening for the hotel industry around the Asia Pacific, and on top of it all I see ...
Asia Pacific Hotel Performance Continues to Recover; ADR Still Pushing Gains Around the World While Occupancy Continues to Lag
May 1, 2023
STR’s global “bubble chart” update through 15 April 2023 shows continued improvement in the Asia Pacific region and more than half of global markets with better than 20% growth in revenue per available room (RevPAR) versus 2019. Gains continue to be driven by average daily rate (ADR) while occupancy trails pre-pandemic comparables in most corners of the world. Among all countries with room supply of more than 50,000 rooms, Israel, Switzerland, Singapore, Saudi Arabia, and France led in RevPAR on an actual basis. For Singapore, this most recent period was its fourth consecutive 28-day period in the top RevPAR group, as the country has...
China Hotels Benefit From First Restriction-Free Lunar New Year in Three Years, More Success On the Way for APAC
STR | February 13, 2023
There was surprise around the globe when China announced the easing of most of its COVID restrictions in December 2022. That meant the end of a zero-COVID policy which had suppressed China hotel industry performance for almost three years. That also meant that January 2023 would feature China’s first Lunar New Year holiday without a lockdown since 2019, and as expected, positive performance developed for this important holiday period in the region. During the seven-day holiday period, starting from Lunar New Year’s Eve on 21 January, China’s hotel average daily rate (ADR) surpassed 2019 levels. Occupancy edged closer to ...
Sydney Hotels Led April Profitability Recovery in Asia Pacific
STR | June 6, 2022
LONDON—Among key hotel markets in the Asia Pacific region, Sydney’s gross operating profit per available room (GOPPAR) level came closest to its 2019 comparable, according to STR’s April 2022 P&L data release. After coming in at just 51% of 2019 GOPPAR levels in March, Sydney posted an April GOPPAR of US$52.08, which was 82% of the pre-pandemic comparable. Also reporting significant month-over-month improvement, Singapore posted an April GOPPAR of US$45.56. That level was 54% of the pre-pandemic comparable after the market had reached just 37% using the same comparison in March. Bangkok’s GOPPAR was 27% of the 2019 compar...
Profitability in Asia Pacific Hotel Markets Well Below Pre-Pandemic Levels
STR | November 2, 2021
LONDON — November 2, 2021 — The hotel industries in seven key Asia Pacific markets reported profitability levels well below pre-pandemic levels, with only Beijing above 40% of the 2019 comparable, according to STR‘s September 2021 monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in four world regions: Europe, the Middle East, Asia Pacific, and the Americas. Beijing’s gross operating profit per available room (GOPPAR) of US$29.91 was 70% of September 2019 levels. Singapore (US$39.99) came in at 35% using the same time comparison, while Hong Kong (US$6.22) wa...
Asia Pacific: Hotel Performance Ups and Downs
STR | August 16, 2021
The Asia Pacific region has seen increasing challenges through the first seven months of 2021, with situation varying greatly by country. While India has been steadily recovering from its latest outbreak, Australia and Indonesia are now facing new restrictions. Mainland China, which was already at 2019 performance levels, has seen new cases arising and performance dipping. Southeast Asia has been mostly quiet, but there is hope in the Phuket Sandbox program, which allows vaccinated foreign tourists to enter the island without the same level of restrictions as those unvaccinated. Continued diversity Although Asia Pacific ...
