Hotels in the Asia Pacific region reported mostly negative results across the three key performance metrics during July 2019, according to data from STR. The average occupancy across the Asia Pacific stood at 73.2%, a slight 0.2% improvement for July 2019 when compared with the same month last year. STR highlighted two regional destinations, Hong and Singapore, providing performance data in local currency for July 2019.
The occupancy in Hong Kong in July dipped by 4.1% to give an average of 83.4%. Average daily rate sunk 9.1%. RevPAR suffered a decline of 12.9%. STR analysts said that ongoing protests in Hong Kong, now in their 12th week, have affected performance levels in the market.
In Singapore, occupancy increased by 1.9% to 91.8% while average daily rate made a marginal improvement of 0.5% and RevPAR improved 2.4%. The country eclipsed 90% occupancy for the first time in its history. STR analysts note that the transient segment (bookings of less than 10 rooms) produced strong demand growth (+7.1%) during the month, while group (bookings of 10 or more rooms) demand fell 7.2%.
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