Asia Pacific Hotels MarketView - H2 2014

Market remains resilient amid steady international tourist demand


• Tokyo recorded the highest occupancy rate in the region in 2014, at 86.75%. Driven by the cheaper currency, hotel occupancy levels in Tokyo have increased by 4.12 percentage points over the past two years.
• Occupancy levels in Melbourne have recorded strong growth, increasing by 4.37 percentage points over the past two years. The increase has been driven by strong tourism promotion campaigns, steady domestic business travel and the attractive Australian currency against the US dollar.
• Singapore has seen occupancy decline by 0.26 percentage points between 2012 and 2014, reflecting a dip in visitor arrivals due to a number of incidents affecting the travelling patterns of Chinese tourists.
• Shanghai, Tokyo and Auckland led RevPAR growth in local currency terms in 2014. In Shanghai, RevPAR stood at RMB 438.6, representing growth of 10.3% y-o-y. Occupancy increased by 5.65 percentage points y-o-y and contributed to the strong growth in RevPAR performance.
• Tourist arrivals in New Zealand stood at 2.86 million in 2014, resulting in strong hotel demand in Auckland, driving an increase in occupancy (+3.04 pp), room rates (+5.33%) and RevPAR (+9.49%). New hotel supply is limited and RevPAR growth will remain strong.
• Around 2,390 new hotel developments comprising a total of 537,726 rooms were in the Asia Pacific development pipeline as of December 2014.

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Robert McIntosh
Executive Director - CBRE Hotels, Asia Pacific
O: +65 6326 1200
M: +65 8123 0208