STR Global Hotel Reports - Asia Pacific

STR Global have reported hotels within the Asia Pacific region experienced positive results during May this year. The region's occupancy during the month grew by 3.2% to 67.6%; its daily average rate ended the month virtually flat with a 0.1% increase to US$115.10; with its revenue per available room increased by 3.3% to US$77.80.

The Philippines excelled by occupancy growth, increasing from 13.7% to 70.6%, owing to an increased demand of 17.6%. Indonesia also experienced positive growth rate during May, increasing by 10.7%. This is one of the highest increases of the Asia Pacific, principally motivated by Jakarta, increasing rates by 12.1%.

Highlights from significant market performers during May in local currency (year-over-year comparisons):

Shanghai, China experienced double digit increases in occupancy by +11.4% to 73.9%; as did Manila, Philippines by +10.2% to 71.7%); and Seoul, South Korea by +10.2% to 80.3%.

Osaka, Japan were up in ADR growth by 16.5% to JPY12,944.47, as Jakarta, Indonesia were up by 12.1% to IDR1,163,781.87, the largest ADR growth.

RevPAR growth of over 15.0% were reported in Osaka by +19.6% to JPY10,975.97; Hong Kong by +16.7% to HKD1,507.91; and Shanghai by +16.4% to CNY465.43.

Highlights from significant market performers for May in U.S. dollars (year-over-year comparisons):

Osaka rose by 15.8% in ADR to US$127.29, reporting the greatest increase in that metric. Seoul followed with a 14.0% increase to US$207.43.

RevPAR growth of over 15.0% occurred in five markets including Seoul, up by 25.6% to US$166.64; Osaka up by 18.8% to US$107.93; Hong Kong up by 16.9% to US$194.49; Shanghai up by 16.6% to US$75.39; and Auckland, New Zealand up by 15.3% to US$95.83.

The Asia Pacific hotel market also reported 2,336 hotels Under Contract, composing of 521,017 rooms, as revealed by the May 2014 STR Global Construction Pipeline Report. The Under Contract data includes projects In Construction, Final Planning as well as Planning stages, however excludes projects in the unconfirmed stage.

Shanghai, China, had the highest number of rooms under construction, with 9,028 rooms across 37 hotels. Over 5,000 rooms were also reported across five markets independently, as under construction - Manila, Philippines (6,456 rooms across 21 hotels); Jakarta, Indonesia (6,152 rooms across 26 hotels); Chengdu, China (5,869 rooms across 22 hotels); Bali, Indonesia (5,798 rooms across 42 hotels); and Delhi-NCR, India (5,297 rooms across 28 hotels).