• Bangkok sets January occupancy and RevPAR records
  • Hong Kong registers second-highest January occupancy

Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during January 2019, according to data from STR.

U.S. dollar constant currency, January 2019 vs. January 2018

Asia Pacific

  • Occupancy: -1.3% to 65.9%
  • Average daily rate (ADR): +0.6% to US$102.53
  • Revenue per available room (RevPAR): -0.7% to US$67.52

Local currency, January 2019 vs. January 2018

Bangkok

  • Occupancy: +2.4% to 84.1%
  • ADR: +1.6% to THB3,669.85
  • RevPAR: +4.0% to THB3,084.65

The absolute occupancy and RevPAR levels were the highest for any January in STR's Bangkok database. STR analysts note that strong demand (+4.8%) surpassed supply growth (+2.4%) due primarily to large demand increases in the Upper Upscale (+8.8%) and Upper Midscale (+10.2%) segments.

Hong Kong

  • Occupancy: -0.6% to 90.1%
  • ADR: +9.6% to CNY1,260.34
  • RevPAR: +9.0% to CNY1,136.04

Supply (+1.8%) slightly outpaced demand growth (+1.2%), causing a slight decrease in occupancy. Regardless, the 90.1% absolute level in the metric was the second highest for any January on record in Hong Kong. According to STR analysts, the opening of the Hong Kong-Zhuhai-Macau Bridge and the Guangzhou-Shenzhen-Hong Kong Rail Link in 2018 has likely helped ease travel and increase inbound arrivals from Mainland China.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.