The Asia Pacific Hotel Industry Reported Lowest Performance Metrics for Any August on Record in the Region

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The Asia Pacific Hotel Industry Reported Lowest Performance Metrics for Any August on Record in the Region

Hotel occupancy in the Asia/Pacific region decreased 31% to 50.8% in August, according to STR. ADR dropped 27.3% to $69.81 and RevPAR fell 49.8% to $35.48 during the month.

The Asia Pacific hotel industry reported continued improved performance from previous months but at overall low levels, according to August 2020 data from STR.

U.S. dollar constant currency, August 2020 vs. August 2019

  • Occupancy: -31.0% to 50.8%
  • Average daily rate (ADR): -27.3% to US$69.81
  • Revenue per available room (RevPAR): -49.8% to US$35.48

Although up month to month, each metric was the lowest for any August on record in the region.

Local currency, August 2020 vs. August 2019

India

  • Occupancy: -61.9% to 23.0%
  • ADR: -30.1% to INR3,498.04
  • RevPAR: -73.4% to INR805.34

Each of the three key performance metrics were up from July, but occupancy and RevPAR remained the lowest for any August on record in the country.

Mainland China

  • Occupancy: -11.9% to 64.2%
  • ADR: -15.2% to CNY422.05
  • RevPAR: -25.4% to CNY271.11

The occupancy and RevPAR levels were the highest for any month in China since November 2019, while the ADR level was the highest since January 2020.

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.