Hotels across Asia Pacific reported positive results in the three key performance metrics during April 2017.
According to the latest data from STR, April 2017 versus April 2016 saw occupancy jump 3.5% to 72.6%, Average Daily Rate (ADR) rise 0.8% to US$102.18 and Revenue Per Available Room (RevPAR) climb+4.4% to US$74.17.
One of the outstanding markets was Japan, which saw occupancy up +2.2% to 85.9%, ADR up 2.3% to JPY16,613.68 and RevPAR up 4.6% to JPY14,268.23.
“Helped by the Hanami cherry blossom season, hotels in Japan experienced a 4.0% increase in demand,” STR analysts said.
“That rise in rooms sold came as the country reported 1.8% growth in supply, which was the highest for any month in Japan since March 2012.
“At the market level, Kyoto posted a 7.3% increase in supply, while Tokyo posted a 4.8% increase. At the same time, each market reported occupancy above 90%.”
Singapore was one of the markets that struggled during April, with occupancy down 1.7% to 81.1%, ADR down 3.9% to SGD$268.19 and RevPAR down 5.5% to SGD$217.47.
“The addition of nearly 2,000 rooms to Singapore’s hotel supply during the past 12 months has weighed on performance,” STR analysts said.
STR analysts also noted that a decline in events held in the market also has contributed to a 9.0% decrease in Group (bookings of 10 or more rooms at a time) occupancy through April.
“Singapore has seen increased competition for events from destinations in Vietnam and Myanmar,” STR analysts said.