Shanghai occupancy low due to supply growth – Bangkok performance falls during low season
Hotels in the Asia/Pacific region reported occupancy dipped 0.2% to 73.6% in July while ADR rose 1.6% to $104.16 and RevPAR increased 1.3% to $76.65.
Hotels in the Asia Pacific region posted mixed results across the three key performance metrics during July 2018, according to data from STR.
U.S. dollar constant currency, July 2018 vs. July 2017
• Occupancy: -0.2% to 73.6%
• Average daily rate (ADR): +1.6% to US$104.16
• Revenue per available room (RevPAR): +1.3% to US$76.65
Local currency, July 2018 vs. July 2017
• Occupancy: -2.7% to 76.5%
• ADR: +0.5% to CNY606.69
• RevPAR: -2.2% to CNY463.94
Supply (+3.5%) continued to outpace relatively flat demand (+0.7%) in the market. The absolute occupancy was the lowest for a July in Shanghai since 2014, while the ADR level was the highest for a July since 2011.
• Occupancy: -1.3% to 79.7%
• ADR: +4.5% to THB3,336.85
• RevPAR: +3.1% to THB2,660.09
STR analysts note that a slight decline in demand (-0.1%) came during a usually lower performance season in Bangkok. Supply (+1.2%) also added pressure on performance levels.
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