- Hanoi posts February performance records with boost from North Korea-U.S. Summit
- Kuala Lumpur performance down during Lunar New Year
Hotels in the Asia Pacific region reported mixed results across the three key performance metrics during February 2019, according to data from STR.
U.S. dollar constant currency, February 2019 vs. February 2018
- Occupancy: +0.7% to 66.6%
- Average daily rate (ADR): -1.0% to US$94.88
- Revenue per available room (RevPAR): -0.3% to US$63.22
Local currency, February 2019 vs. February 2018
- Occupancy: +9.5% to 72.9%
- ADR: +17.4% to VND2,984,594.98
- RevPAR: +28.6% to VND2,175,920.96
The absolute ADR and RevPAR levels were the highest for any February in STR’s Hanoi database. STR analysts note that performance was boosted by the North Korea-U.S. Hanoi Summit (27-28 February). Occupancy levels during the two-day period were above 95.0%.
Kuala Lumpur, Malaysia
- Occupancy: -6.7% to 64.2%
- ADR: -3.2% to MYR328.58
- RevPAR: -9.7% to MYR210.91
RevPAR comparisons in Kuala Lumpur have been negative for eight consecutive months. STR analysts note that the Lunar New Year period, usually strong for the market, showed a 20.7% drop in occupancy when compared with the same holiday week in 2018. Additionally, supply grew 5.6% for the second month in a row, placing added pressure on performance.
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