A quarterly digest of key trends in the hospitality sector
Hotels across Asia Pacific have had a mixed performance in 2019, with overall room occupancy and average daily rate (ADR) showed decreases to 69.3% and US$97.35 respectively. This resulted in Revenue Per Available Room (RevPAR) for the region showing a decline of some 5.4% year‐on‐ year. However, we note this figure may have been negatively impacted by forex currency movements together with declines in Australia, New Zealand, China, Malaysia and Vietnam. In terms of room occupancy, Delhi‐NCR, Hanoi, Manila, and Seoul remain the stand out performers, with year‐on‐year growth in excess of 2.0%, according to STR. Hong Kong, HCMC, Phuket and Jakarta led the field in being the worst performers.