SINGAPORE—Reflecting the continued effects of the COVID-19 pandemic, the Asia Pacific hotel industry reported monthly lows in the three key performance metrics during May 2020, according to data from STR.
U.S. dollar constant currency, May 2020 vs. May 2019
- Occupancy: -47.3% to 35.8%
- Average daily rate (ADR): -40.2% to US$55.93
- Revenue per available room (RevPAR): -68.5% to US$20.04
The absolute levels in each of the three KPIs were the lowest for any May on record in the region, but were up from April levels.
Local currency, May 2020 vs. May 2019
Mainland China
- Occupancy: -33.7% to 45.2%
- ADR: -24.5% to CNY342.78
- RevPAR: -50.0% to CNY155.03
Each of the three key performance metrics were up from April, but ADR remained the lowest for any May on record in the country. Occupancy and RevPAR were the lowest since the SARS outbreak in 2003.
Singapore
- Occupancy: -8.8% to 71.5%
- ADR: -62.5% to SGD95.44
- RevPAR: -65.8% to SGD68.20
Even though Singapore maintained the world’s highest occupancy level, its absolute ADR was the lowest for any month in the country’s database. As a result of lower room rates, the RevPAR level was the lowest for any May since 2003.
Additional COVID-19 analysis
All of STR’s COVID-19 analysis can be found here.
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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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