Jakarta posts record-breaking performance with a boost from the Asian Games – Tokyo performance levels helped by inbound tourism
Hotels in the Asia Pacific region posted positive results across the three key performance metrics during August 2018, according to data from STR.
U.S. dollar constant currency, August 2018 vs. August 2017
- Occupancy: +1.0% to 75.7%
- Average daily rate (ADR): +2.4% to US$109.06
- Revenue per available room (RevPAR): +3.4% to US$82.53
Local currency, August 2018 vs. August 2017
- Occupancy: +14.7% to 71.5%
- ADR: +20.9% to IDR1,221,707.16
- RevPAR: +38.7% to IDR 874,006.42
The absolute ADR and RevPAR levels were the highest for any month in STR’s Jakarta database. STR analysts note that the 2018 Asian Games, held 18 August through 2 September, drove a 16.2% increase in demand (room nights sold) in the market.
- Occupancy: +1.9% to 86.5%
- ADR: +5.2% to JPY18,186.92
- RevPAR: +7.2% to JPY15,734.13
STR analysts note that inbound tourism helped push one of the highest-ever August occupancy levels in the market. According to the Japan National Tourism Organization, Japan saw a 4.1% year-over-year increase in international visitors in August. In the latest Market Forecast for Tokyo, STR analysts expect continued growth in RevPAR (+6.0%) in 2019 and 2020.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.