Region's Hotels Register 3.6% Decline In Occupancy In January
News: The hotel industry in the Asia Pacific region reported a 3.6% year-on-year (y-o-y) drop in occupancy to 62.1% in January, according to data compiled by STR Global. The average daily rate fell by 1.9% to US$125.75 in the reported period, while revenue per available room declined by 5.4% to US$78.03. Among the markets in the region, hotel occupancy fell 25.8% y-o-y during January to 57.0% in Bangkok, Thailand, and 13.8% y-o-y to 54.7% in Beijing, China. In addition, Hanoi, Vietnam, registered a 10.7% y-o-y fall in occupancy to 60.8% in the reported period, while Ho Chi Minh City, Vietnam, posted a decline of 10.0% y-o-y to 65.0%.