STR Global: Asia/Pac Result for July 2015
Hotels in the Asia Pacific region experienced positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2015 data compiled by STR Global.
Compared to July 2014, the Asia Pacific region reported a 2.1% increase in occupancy to 70.7%, a 1.1% rise in average daily rate to US$105.12 and a 3.2% increase in revenue per available room to US$74.34.
Performance of featured countries for July 2015 (local currency, year-over-year comparisons):
China reported nearly flat performance. Occupancy in the country increased 0.1% to 69.9%; ADR was down 1.7% to CNY522.27; and RevPAR decreased 1.7% to CNY364.93. Year-to-date supply growth (+4.6%) is slightly outpacing demand (+4.3%) in the country. Preliminary accounting results from the National Bureau of Statistics of China showed GDP growth of 7.0% for the second quarter of 2015.
(Read more at: HotelNewsNow.com)