LONDON— The ASEAN Hotel Review launched in May 2010 is the latest sub-regional report from STR Global, the leading provider of market information to the global hotel industry. The monthly report compiles year-to-date and current month hotel performance information for Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam within the economic, social and cultural bloc of the Association of Southeast Asian Nations (ASEAN). The report details nationwide performance for the six countries plus details on 11 key destinations.
Hotel Performance for the year to June 2010 vs. YTD 2009 (US$)
| |
Occ
|
ADR
|
RevPAR
|
|
Indonesia
|
|
|
|
| Bali |
7.8%
|
10.7%
|
19.3%
|
| Jakarta |
4.9%
|
16.3%
|
21.9%
|
| Bandung |
7.8%
|
17.9%
|
27.1%
|
|
Malaysia
|
|
|
|
| Kuala Lumpur |
12.3%
|
12.2%
|
25.9%
|
|
Philippines
|
|
|
|
| Manila |
8.0%
|
6.3%
|
14.9%
|
|
Singapore
|
23.2%
|
13.5%
|
39.9%
|
|
Thailand
|
|
|
|
| Bangkok |
0.7%
|
0.2%
|
0.9%
|
| Chiang Mai |
35.9%
|
-8.5%
|
24.3%
|
| Hua Hin |
4.9%
|
2.2%
|
7.3%
|
| Phuket |
24.8%
|
9.6%
|
36.7%
|
|
Vietnam
|
|
|
|
| Hanoi |
22.0%
|
-8.2%
|
12.0%
|
| Ho Chi Minh |
25.9%
|
-9.4%
|
14.0%
|
Source: STR Global
The overwhelming message in the above table is a region in the midst of a strong recovery. All markets in the report showed positive growth in revenue per available room (RevPAR) for the year-to-date June 2010, even if the comparison with the same period for 2009 needs to be tempered by the weak performance of last year.
The ASEAN Hotel Review shows that the affect of the on-going political crisis in Thailand has not significantly affected the hotel performance of the Thai coastal resorts of Hua Hin and Phuket. Conversely, the hotel market of the resort island of Bali underperforms in RevPAR growth when compared to the Indonesian destinations of Jakarta and Bandung, the West Java provincial capital. Nevertheless, Bali still records the highest actual occupancy (71 percent) and ADR (US$121) compared to the other Indonesian destinations for the first six months this year.
Singapore shows promising signs of recovery with occupancy improvements pulling up ADR. The newly opened Marina Bay Sands resort, which will have 2,500 rooms when completed, includes a casino and plenty of meeting space that provide an additional attraction and conference space to the city state. In Vietnam, the least established hotel market of the countries sampled, strong year-to-date occupancy growth results in steady improvements in RevPAR in spite of weak ADR changes.
The strength of long-term investor confidence in the region is indicated by the results of our separate Pipeline Report available from STR Global. The hotels in construction, final planning and planning are seen, by country, in the chart below with Thailand dominating development followed by Indonesia and Vietnam.
Hotel Pipeline Report (hotels in construction, final planning and planning, number of hotels)
Source: STR Global
“The launch of the ASEAN Hotel Review reinforces the strong market position of STR Global in Asia,” said Elizabeth Randall, managing director of STR Global. “Together with our other regional reports and benchmarking services we deliver an unrivalled depth of knowledge of the local hospitality industry.” The ASEAN Hotel Review is just one of seven sub-regional reports produced by STR Global along with four global region reports (Europe, Asia/Pacific, Middle East/Africa, and Americas) and seven country specific reports, including China.
About STR Global:
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
Media contacts:
Konstanze Auernheimer
Director of Marketing & Analysis
STR Global
KAuernheimer@strglobal.com
+44 (0)207 922 1961
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
