Key Takeaways:
- Sydney performance falls due to supply growth, bushfires late in year
- Fifth consecutive year of growth for Delhi hotels
SINGAPORE—Hotels in the Asia Pacific region reported negative results in the three key performance metrics during 2019, according to data from STR.
U.S. dollar constant currency, 2019 vs. 2018
Asia Pacific
- Occupancy: -1.3% to 69.3%
- Average daily rate (ADR): -2.0% to US$98.73
- Revenue per available room (RevPAR): -3.2% to US$68.38
Local Currency, 2019 vs 2018
Sydney
- Occupancy: -1.9% to 82.5%
- Average daily rate (ADR): -3.0% to AUD220.50
- Revenue per available room (RevPAR): -4.8% to AUD181.81
Sydney performance had been trending downward for most of the year, largely due to supply growth (+2.0%) and overall flat demand. STR analysts note that the devastating bushfires in Australia created an added burden on performance late in the year, especially in the areas surrounding Sydney.
The worst drop in December RevPAR occurred in Sydney Drive Regional (-29.5%), a submarket within a two-hour-drive radius of Greater Sydney.
Delhi, India
- Occupancy: +4.9% to 73.0%
- ADR: +3.4% to INR6,581.95
- RevPAR: +8.5% to INR4,801.75
Delhi recorded its fifth consecutive year of RevPAR growth, and the absolute occupancy level was the market’s highest for any year since 2007. STR analysts point to a 7.1% jump in demand as the driver of that performance. November was the strongest month of the year for RevPAR growth due to the Diwali festival calendar shift from November in 2018 to October in 2019.
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About STR
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.
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