Hotel News Now each week features a news roundup from a different region of the world. Today’s review covers the Asia/Pacific region.
Asia/Pacific performance data
Hotels in the Asia/Pacific region experienced mixed results in the three key performance metrics during August 2013 when compared with August 2012 and reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy ended the month with a 3% increase to 71.8%; its average daily rate dropped 5.3% to $119.88; and its revenue per available room was down 2.5% to $86.09.
Some highlights from key markets in the region in local currency:
- Kuala Lumpur, Malaysia, reported the largest occupancy increase, rising 17.1% to 78.8%.
- Manila, Philippines, fell 4.1% in occupancy to 62.3%, posting the largest decrease in that metric.
- Four markets achieved RevPAR increases of more than 15%: Jakarta, Indonesia; Kuala Lumpur; Bangkok; and Melbourne, Australia.
China data suggests rebound
China's economy showed fresh signs of vigor as an initial gauge of manufacturing activity strengthened in September, reaching a six-month high, according to a Wall Street Journal report.
The improved reading on the initial HSBC China Manufacturing Purchasing Managers' Index reinforced expectations that the economy is continuing to gain strength after its weak first half and that the second quarter was the bottom for the year.
Smaller, private companies, which have a heavy weighting in the HSBC measure, are starting to follow the improving fortunes of larger state-run firms as shown in the official preliminary reading. The PMI in September climbed to 51.2, up from 50.1 in August.
Strong market draws investors to Australia
Strong hotel performance in Australia is drawing increased interest from investors, especially those from the Middle East and Asia, writes Hotel News Now’s Ed Watkins.
The latest transaction was the purchase of 31 Accor-branded hotels in Australia by the Abu Dhabi Investment Authority of Tourism Asset Holdings Limited.
“The ADIA acquisition of the (Tourism Asset Holdings) portfolio continues an active period of hotel portfolio sales in Australia,” said Stephen Burt, managing director of hotels in Asia/Pacific for Colliers International, in an email. “This is the fifth major portfolio sale in the last three years, and in most cases they are characterized by domestic vendors selling to Asian or Middle East-based institutional buyers.”
Tokyo hotel market scores with Olympic bid
With the Tokyo Summer Olympics seven years away, hotel industry analysts already have awarded the city a gold medal for room availability during the games, although the International Olympic Committee has voiced concerns about possible high rates for the event, according to Hotel News Now contributor Benjamin Jones.
“In our experience, the hotel market improved dramatically in Olympic venue cities such as London, Beijing and Sydney, and Tokyo will follow these positive examples,” said Koji Takabayashi, managing director of Horwath HTL Japan. “The committee’s decision will spur real estate developers to implement their plans to open new hotels in advance of the games.”
Horwath HTL Japan has confirmed a number of planned hotels for the city’s central business district, including the 84-room Aman Tokyo (to be opened in 2014), the 164-room Hyatt Andaz Tokyo (summer 2014) and the 84-room Hoshinoya Tokyo (2016).
Ascend Collection enters Australia
Choice Hotels International’s Ascend Collection has added the Lindenwarrah at Milawa, Australia.
Ascend now has 108 properties in North America, Europe, the Caribbean and Australia.
The 40-room Lindenwarrah offers a mountain and vineyard setting where food and wine play a prominent role in the Milawa Gourmet Region.
Vivanta by Taj opens 28th hotel
Vivanta by Taj Hotels & Resorts has opened the 287-room Vivanta by Taj - Surajkund in Faridabad, India.
The hotel will be the third Vivanta in the region after the recent launch of Vivanta by Taj - Gurgaon and Vivanta Ambassador. This development is in line with a strategic plan to expand Taj’s presence in the National Capital Region.
Vivanta’s portfolio is now at 28 hotels. Vivanta by Taj - Surajkund, is a 45-minute drive from the international airport and from the central Delhi.
Hilton opens in Bangkok
The Hilton Sukhumvit Bangkok opened in early September.
The 280-room hotel is located in Sukhumvit, one of Bangkok's most central business and entertainment districts. It’s the ninth Hilton Worldwide hotel in the country.
Compiled by Jason Q. Freed.