Hotels in the Asia Pacific Region Saw Record-low Performance During 2020

By Ruby J. Adams 4 years ago


Occupancy: 44.5% (-35.6%) – Average daily rate (ADR): US$74.99 (-22.2%) – Revenue per available room (RevPAR): US$33.39 (-49.9%)

Sydney, Australia - Photo by Keith Zhu on Unsplash

The 2020 hotel occupancy and RevPAR levels were the lowest for any year on record in Australia.

Hotels in the Asia Pacific region saw record-low performance during 2020, according to data from STR.

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

  • Occupancy: 44.5% (-35.6%)
  • Average daily rate (ADR): US$74.99 (-22.2%)
  • Revenue per available room (RevPAR): US$33.39 (-49.9%)

Each of the three key performance metrics were the lowest for any year on record in the region.

Local currency, 2020 vs. 2019

Australia

  • Occupancy: 44.7% (-39.4%)
  • ADR: AUD163.90 (-11.5%)
  • RevPAR: AUD73.32 (-46.4%)

The 2020 occupancy and RevPAR levels were the lowest for any year on record in Australia. However, after falling to its pandemic low point in April (occupancy: 19.8%), Australia reported continued performance improvement through the end of the year. In December, each of the three key performance metrics were the highest for the country since February: occupancy (52.8%), ADR (AUD189.50) and RevPAR (AUD99.98).

Philippines

  • Occupancy: 42.6% (-37.6%)
  • ADR: PHP3,689.33 (-32.0%)
  • RevPAR: PHP1,572.32 (-57.6%)

The absolute occupancy and RevPAR levels were the lowest for any year in STR’s Philippines database, while ADR was the lowest since 2004. June was the country’s worst month in terms of occupancy (27.0%).

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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