Asia Pacific Hotels Post Negative Results for 2019: Report


(BUSINESSNEWSASIA) – Hotel occupancy in the Asia Pacific region dropped 1.3 percent to 69.3 percent last year while average daily rate (ADR) plunged 2 percent to $98.73 and RevPar fell to $68.38, according to data from US-based data intelligence provider STR. The data shows that hotels in the Asia Pacific region reported negative results in three key performance metrics last year, with Sydney performance trending downward for most of the year largely due to supply growth and overall flat demand.

The worst drop in December RevPAR occurred in Sydney Drive Regional, a submarket within a two-hour-drive radius of Greater Sydney. Delhi recorded its fifth consecutive year of RevPAR growth and the absolute occupancy level was the market’s highest for any year since 2007. STR analysts point to a 7.1 percent jump in demand as the driver of that performance. November was the strongest month of the year for RevPAR growth due to the Diwali festival calendar shift from November in 2018 to October in 2019.

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