Myanmar Hotel Performance Slides 11pc

Hotels in Myanmar have seen performance slow with a decline of more than 11 percent in occupancy in January, hotel data benchmarking firm STR Global said.

The company identified hotel trends in Myanmar as part of its January analysis of hotels in the Asia Pacific region.

Myanmar experienced declines in occupancy, down 11.9 percent to 49.9 percent, while RevPAR (revenue per available room) went down 4.8 percent to K101,719 ($82.16).

However, ADR (average daily rate) went up 8 percent to K203,849 ($164.66).

Demand in Myanmar has decreased year-over-year for 17 straight months, leading to continued drops in RevPAR, according to the report. 

Overall, hotels in the Asia-Pacific region reported positive results in the three key performance metrics when reported in US dollar constant currency, according to January 2016 data from STR Global.

Compared with January 2015, the Asia-Pacific region reported a 3.5 percent increase in occupancy to 66.1 percent. Average daily rate for the month was up 0.4 percent to $104.60. Revenue per available room grew 4 percent to $69.15.

Bangkok posted increases across the three key performance metrics: occupancy (up 4.5 percent to 80.6 percent), ADR (up 3.1 percent to THB3,547) and RevPAR (up 7.8 percent to THB2,858.54). Stable supply growth (0.6 percent) coupled with rising demand (5.1 percent) drove performance in the market.

STR Global gathers performance data from more than 18,000 hotels comprising more than 3 million rooms.

Source : http://www.mmbiztoday.com