News in numbers Seeing in the new year
APAC: RevPAR, ADR and occupancy from December and the lunar new year Vietnam’s RevPAR growth
India’s hotel growth Top 5 80%
Vietnam led the region in December with strong occupancy
and ADR growth, ranking in the top 5 for 9 months of 2024. Six of seven submarkets saw double-digit growth.
Japan’s RevPAR strength
Ranked in the top fi ve every month of 2024, with Tokyo achieving the
second-highest room rates among the top 28 markets and occupancy above 80%.
South Korea’s stability despite political challenges
and Seoul leading at 4.2% growth, while other regions remained fl at.
4.2% 10% Nepal
Taiwan (China)
South Korea Australia 0% Malaysia China Sri Lanka Guam Myanmar Cambodia -10% -15% 0% Occupancy: year-on-year % change 15% 30% Singapore
RevPAR growth driven by strong ADR, with Incheon
+20.0% 13.2% 4.9% Japan Thailand Indonesia Fiji Philippines Maldives New Zealand Vietnam India -20.0% 20.0%
15 of 17 submarkets saw double-digit RevPAR growth, with Mumbai leading at +20.0%, the second-highest gain among the top 28 markets.
Australia and New Zealand’s strong December
Both countries saw RevPAR gains, with
Sydney and Queensland South East leading Australia’s growth at 2.5%, while South Island outperformed North Island in New Zealand, 4.1% vs 13.2%.
Taiwan’s ADR-Driven Growth
RevPAR increased at 4.9% due to ADR, with fl at occupancy.
China’s declining performance
markets showing growth. Shanghai was the only major city to post an increase, solely due to ADR.
4.3%
4th 100%
RevPAR year-on-year % change by country December 2024 RevPAR year-on-year % change Guangdong’s exceptional growth
China’s third- largest market by room supply saw
RevPAR gains of over 100% during the lunar new year.
Thailand’s market performance
All four markets, including Bangkok, contributed to strong RevPAR growth,
with Bangkok ranking 4th among the top markets.
RevPAR dropped 4.3% in December, with only eight of 43
Source: STR’s Asia Pacifi c hotel performance update 6
Hotel Management International /
www.hmi-online.com
Average daily rate - year-on-year % change
Yoo_Grina; littleWhale/
Shutterstock.com
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