Asia/Pacific hotel occupancy dropped 43% to 38.8% in June as ADR declined 35.2% to $58.86 and RevPAR fell 63.1% to $22.82.
The Asia Pacific hotel industry reported continued improved performance from previous month but at overall low levels during June 2020, according to data from STR.
U.S. dollar constant currency, June 2020 vs. June 2019
• Occupancy: -43.0% to 38.8%
• Average daily rate (ADR): -35.2% to US$58.86
• Revenue per available room (RevPAR): -63.1% to US$22.82
Although up from May, the absolute levels in each of the three KPIs were the lowest for any June on record in the region.
Local currency, June 2020 vs. June 2019
• Occupancy: -67.1% to 20.8%
• ADR: -40.8% to INR3,140.73
• RevPAR: -80.5% to INR652.91
While up slightly from May levels, the absolute occupancy and RevPAR levels were the lowest for any June in STR’s India database.
• Occupancy: -51.8% to 33.6%
• ADR: -20.1% to KRW117,061.03
• RevPAR: -61.5% to KRW39,351.03
The absolute levels in the three key performance metrics were the lowest for any June on record in South Korea but were higher than May levels in the country.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.