STR: Asia Pacific hotel performance for July 2020
SINGAPORE - The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels during July 2020, according to data from STR.
- Occupancy: -36.5% to 46.3%
- Average daily rate (ADR): -30.6% to US$64.35
- Revenue per available room (RevPAR): -55.9% to US$29.78
Although up month to month, each metric was the lowest for any July on record in the region.
Local currency, July 2020 vs. July 2019
- Occupancy: -18.5% to 57.9%
- ADR: -15.5% to CNY378.21
- RevPAR: -31.1% to CNY218.81
Each of the three key performance metrics were up from June, but ADR and RevPAR remained the lowest for any July on record in the country. China's occupancy was the lowest for a July since the global financial crisis.
- Occupancy: -44.6% to 41.4%
- ADR: -18.3% to AUD143.58
- RevPAR: -54.8% to AUD59.47
While up slightly from June levels, the absolute occupancy and RevPAR levels were the lowest for any July in STR's Australia database. The ADR value was the lowest for a July in Australia since 2004.
Additional COVID-19 analysis
All of STR's COVID-19 analysis can be found here.
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.