Reflecting the effects of the COVID-19 pandemic, the Asia Pacific hotel industry reported record lows in the three key performance metrics during April 2020, according to data from STR.
U.S. dollar constant currency, April 2020 vs. April 2019
- Occupancy: -60.3% to 28.0%
- Average daily rate (ADR): -44.8% to US$54.97
- Revenue per available room (RevPAR): -78.1% to US$15.38
The absolute levels in each of the three KPIs were the lowest for any month on record in the region.
Local currency, April 2020 vs. April 2019
South Korea
- Occupancy: -70.8% to 20.0%
- ADR: -21.0% to KRW112,897.83
- RevPAR: -76.9% to KRW22,536.18
Each of the three key performance metrics were up from March but remained the lowest for any April on record in the country. Incheon & Seoul experienced a 75.2% year-over-year decrease in occupancy (to 18.8%).
Australia
- Occupancy: -72.7% to 19.9%
- ADR: -33.1% to AUD119.87
- RevPAR: -81.7% to AUD23.85
The absolute occupancy, ADR and RevPAR levels were the lowest for any month in STR’s Australia database. Among key markets, Melbourne and Sydney saw year-over-year occupancy declines of 65.0% and 73.7%, respectively.
Returning travelers are predominantly keeping occupancy up, as seen in Adelaide, where year-over-year occupancy declines eased slightly during April up to 13 May due to returning travelers from India. More information can be found in STR’s Pacific webinar recording.
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
