SINGAPORE – While occupancy across Asia Pacific hotels in February saw a significant decline, rooms rates remained steady, according to data by hotel research company STR.
Hotels in the region saw a significant 37.7% drop in occupancy to 41.2% as the impact of the Covid-19 outbreak took hold. Hotels also saw revenue per available room (RevPAR) decreased by 36.5% to US$44.27.
But a bright spot was the slight increase in average daily rates by 1.9% to US$107.35.
China, among the hardest hit in February, saw occupancy drop by 75.9% to an absolute level of 14%. Sanya’s occupancy plummeted 89.8% to 7.8%, while Shanghai was down 82% to 9.7%. Hong Kong fell 73% to 24%.
Elsewhere, Singapore saw hotel occupancy cut by half to 46.4% while South Korea was down by 30% to 42.7%.