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ADR, Occupancy Up for Asia Pacific Hotels

SINGAPORE-According to the latest from CBRE Hotels, the Asia Pacific market is looking good.

By Miriam Lamey | Updated on August 07, 2012

SINGAPORE-The latest edition of CBRE Hotels’ MarketView reports that the hotel industry in the Asia Pacific market presents some promising statistics. Average occupancy is up from last year, coming in at almost 66% in 2012, whereas the rate in 2011 was at almost 65%. Additionally, ADR increased by a very slight 1.1% to US$143.7, according to a statement from the company.

And, CBRE Hotels have deduced, the industry is not resting on its proverbial laurels. Seemingly encouraged by this positive news, a sizeable pipeline of 375,000 hotel rooms will be entering the Asia hotel market across the next two to three years. These new rooms won’t be too shabby either; around 60% of this new construction will be in the upscale to luxury segments, meaning that developers are encouraged by tourism and the local economy. And CBRE Hotels cites figures from PATA that indicate tourist arrivals to the Asia Pacific region have increased – if even only by 4% over last year in the month of April, 2012. Southeast Asia in particular has showed the most traffic with a 9% increase in arrivals for the same month this year, data indicates.

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