Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during February 2019.
· Occupancy: +0.7% to 66.6%
· Average daily rate (ADR): -1.0% to US$94.88
· Revenue per available room (RevPAR): -0.3% to US$63.22
· Occupancy: +9.5% to 72.9%
· ADR: +17.4% to VND2,984,594.98
· RevPAR: +28.6% to VND2,175,920.96
The absolute ADR and RevPAR levels were the highest for any February in STR’s Hanoi database. STR analysts note that performance was boosted by the North Korea-U.S. Hanoi Summit (27-28 February). Occupancy levels during the two-day period were above 95.0%.
Kuala Lumpur, Malaysia
· Occupancy: -6.7% to 64.2%
· ADR: -3.2% to MYR328.58
· RevPAR: -9.7% to MYR210.91
RevPAR comparisons in Kuala Lumpur have been negative for eight consecutive months. STR analysts note that the Lunar New Year period, usually strong for the market, showed a 20.7% drop in occupancy when compared with the same holiday week in 2018. Additionally, supply grew 5.6% for the second month in a row, placing added pressure on performance.
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