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 versus YTD 2009 (US$)
Ho Chi Minh
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.
Source : STR
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