STR: Preliminary April data for Melbourne hotels
STR's preliminary April 2018 data for hotels in Melbourne, Australia, indicates high room rates. Based on daily data from April, Melbourne reported the following in year-over-year comparisons:
Press Releases
Ascott Accelerates Growth Of Citadines Brand In China Through Joint Venture With Huazhu Hotels Group And Cjia Apartments Group
CapitaLand's wholly owned serviced residence business unit, The Ascott Limited (Ascott), is stepping up the expansion of its Citadines brand in China through a joint venture with one of China's leading hotel operators Huazhu Hotels Group (Huazhu) and Huazhu's subsidiary and an apartment rental firm, CJIA Apartments Group (CJIA). Listed on Nasdaq Stock Market since 2010, Huazhu has a market capitalisation of US$10.4 billion and the third largest market share in China's midscale hotel segment with a total portfolio of over 380,000 hotel rooms. CJIA, within a short span of over two years, has expanded quickly to collaborate with over 100 property management firms with 10,000 apartments. With an initial registered capital of RMB 100 million (S$21 million), Ascott, Huazhu and CJIA will hold 50%, 10% and 40% respective stakes in the partnership. The joint venture will focus on growing Citadines in the first-tier Chinese cities of Shanghai, Beijing and Shenzhen for the initial years. It has secured its first property in the Pudong district of Shanghai, which will come under the Citadines brand and enjoys easy access to the city's financial district.
Medical Tourism: India and Malaysia Lead the Market with Use of Cryptocurrency
The medical tourism market has grown exponentially in recent years due to affordability and accessibility of healthcare services along with the support from tourist department and government. In addition, the countries such as India, Brazil, Malaysia, and Thailand provide the latest medical technologies to the patients, which boosted the medical tourism market. In its recent report on Global Medical Tourism Market, Allied Market Research has estimated that the market was valued at $61,172 million in 2016, and is expected to grow at a CAGR of 15.0% from 2017 to 2023. Moreover, India has become the key market player in the medical tourism market.
STR: Gold Coast hotels record triple-digit growth during Commonwealth Games
Hotels in Australia's Gold Coast experienced a substantial performance uplift as host market for the 2018 Commonwealth Games, according to data from STR.The Gold Coast's hotel performance was largely driven by high rate premiums during the event (4-15 April). Average daily rate (ADR) came in at AUD347.38, which was a 76.7% increase over the same 12-day period in 2017. The market's growth in revenue per available room (RevPAR) exceeded 100% most nights during the event, with the peak level occurring the night of the opening ceremony on 4 April (RevPAR: +205.4% to AUD294.26). The spike in ADR and RevPAR occurred despite the fact that Gold Coast hotels did not register at-capacity occupancy levels. The market experienced its highest occupancy level (92.8%) on the night of the closing ceremony, and the average level during the event (86.6%) fell short of the average in Glasgow (95.7%). However, with different market sizes, the Gold Coast sold 99,466 more room nights. "While it's encouraging to see that Queensland hotels capitalized on the Commonwealth Games, the lasting legacy could have an even greater impact on the market's future," said Matthew Burke, STR's Pacific manager. "As Southeast Queensland continues exploring the prospect of bidding to host the 2032 Olympics, the results of this year's Commonwealth Games will likely play a big role in the ultimate decision."
Horwath HTL Market Report China Hotels Deals Signing
In the past few years, China has become a popular country for hotel investment. Hotel deals signed by international hotel management companies (HMCs) keep growing, especially midscale hotel deals. HMCs have adjusted their strategic layout and started to pay attention to the midscale hotel market. Meanwhile, more investors have started to focus on ROI instead of just chasing trophy assets that don't make money. In order to gain a better understanding of this latest trend, the team at Horwath HTL China Beijing, analyzes the data of midscale and above hotel brand deals, signed by international HMCs, to provide a comprehensive interpretation for investors and operators.
STR: Asia Pacific hotel performance for Q1 2018
Hotels in the Asia Pacific region registered growth across the three key performance metrics during Q1 2018, according to data from STR.U.S. dollar constant currency, Q1 2018 vs. Q1 2017Asia Pacific
Indonesia’s project pipeline in good health [Infographic]
The Asia Pacific market looks set to get a boost in Indonesia over the next few years. Indonesia has a wealth of new projects in the pipeline and everything from big brands to boutique and apart hotels look set to land in this premium destination in the near future. We check out what's in store.
STR: Preliminary March data for Hong Kong hotels
STR's preliminary March 2018 data for hotels in Hong Kong indicates strong performance results. Based on daily data from March, Hong Kong reported the following in year-over-year comparisons:
Horwath HTL Market Report: Wuhan, China - Upper-Tier Hotel Market
Gary Shao, from Horwath HTL, Shanghai, has produced the latest market report from China. Wuhan is the provincial capital of Hubei and the largest economy in central China. Given the city's rapid expansion powered by several major developments, the Wuhan hotel market is experiencing severe competition, coupled with a large number of new hotel additions expected to open in the near future.
STR: Preliminary March data for Sydney hotels
STR's preliminary March 2018 data for hotels in Sydney, Australia, indicates performance consistent with significant growth in both supply and demand. Based on daily data from March, Sydney reported the following in year-over-year comparisons:
STR: Asia Pacific hotel performance for February 2018
Hotels in the Asia Pacific region reported lower occupancy but significant rate growth during February 2018, according to data from STR.U.S. dollar constant currency, February 2018 vs. February 2017Asia Pacific
STR: Melbourne hotel business expected to speed up over Grand Prix weekend
After posting a 42.2% premium in average daily rate (ADR) during the Formula 1 2017 Australian Grand Prix, hotels in Melbourne are again expected to see a strong performance uplift around this year's event, according to STR.Over Grand Prix weekend last year (18-20 March), Melbourne hotels recorded the following performance figures in comparison with the rest of March 2017:
STR: Preliminary February data for Singapore hotels
STR's preliminary February 2018 data for hotels in Singapore indicates significant occupancy levels and higher room rates. Based on daily data from February, Singapore reported the following in year-over-year comparisons:
STR: Preliminary February data for Melbourne hotels
STR's preliminary February 2018 data for hotels in Melbourne, Australia, indicates growth across the key performance metrics. Based on daily data from February, Melbourne reported the following in year-over-year comparisons:
How a Decision by Chinese Investors has Caused Sydney Hotels Sales Volume to Dive
In 2017, Sydney, Australia's previously red hot hotels market eased its growth and racked up a massive total of $2.02 billion in transactions, with Victoria actually accounting for 45 percent of the overall sales volumes, experts have said.
Adelaide scores best hotel performance during The Ashes
Adelaide reported the highest hotel performance levels among the five Australian markets to host The Ashes cricket series from November 2017 to January 2018, according to an analysis by STR.From 1-5 December, occupancy in Adelaide hit 96.2%, while average daily rate (ADR) jumped to AUD306.54. As a result, revenue per available room during the match played at Adelaide Oval reached AUD294.87. Each of those absolute values were higher than those recorded during the England vs. Australia tests in Brisbane, Perth, Melbourne and Sydney. "Adelaide hosting the annual day-night test in recent years has boosted performance compared with prior day tests, and the inaugural England and Australia day-night match was a real stand out," said Matthew Burke, STR's regional manager for the Pacific.Year-over-year percentage changes were highest in Adelaide as well. Occupancy rose 28.1% compared with the same days in 2016, and ADR rose a staggering 115.1%. That led to a 175.5% spike in RevPAR. The second-highest occupancy increase was seen in Perth, while Brisbane recorded the second-best increase in ADR. The lowest overall impact was reported in Sydney. "The lower performance in Sydney perhaps was reflective of a long summer campaign for the English Barmy Army supporters, who may have grown battle-weary with the series decided," Burke said.
Vietnam is booming: 1,3 Million arrivals in December [INFOGRAPHIC]
The Asia-Pacific tourism region is the hottest on the planet right now. As such, it boasts a number of countries with booming project pipelines, including Vietnam. In the past decade the country's hospitality prospects have undergone a rejuvenation, largely fueled by an influx of foreign visitors.
Horwath HTL Market Report: India
The India Hotel Review Report 2017 is a collaboration between Horwath HTL and STR.In this report we examine Occupancy, Average Daily Rate and Revenue Per Available Room for several key markets. Besides assessing the performance of 13 major markets which account for almost 70% of India's branded inventory, this year we have taken a dipstick on the performance of newer markets across the country. 2017 will be associated with two defining events – the liquor ban for bars located 500m from highways and GST.
Horwath HTL Market Report: Bali
Bali's Mt. Agung's awakening in October last year created doomsday global news headlines. In what had been up to that point, a record setting year, suddenly had hoteliers scrambling to fill rooms and going into damage control.
Horwath HTL Market Report: Bangkok Hotel & Hotel Residences
Move over London and New York, here comes the emerging world-class megacity, Bangkok. In five short years, the electric metro across Greater Bangkok will reach a length of 464 kilometers. This will surpass London's 402 km Tube network and New York City's subway, which is 380 km. The great promise of the East, has now become the new West. Important to the success of Bangkok being a world class city, will be the access to the three international interconnected airports: Suvarnabhumi, Don Mueang and U-Tapao. This latest report by Horwath HTL Thailand and C9 Hotelworks provides great insight into new luxury hotel and hotel residence developments that truly raise the evolving city skyline.
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