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STR: Asia-Pacific hotels report mixed performance for November 2016

Asia-Pacific hotels posted a mixed performance across three key metrics for November 2016, according to STR data.

Year over year, RevPAR rose 2.1% to US$73.49, while the average daily rate slipped 1.0% to US$101.65. Occupancy increased 3.1% to 72.3%.

China posted the strongest growth in occupancy rates in the region, firming 5.1% to 69.9% for the month. RevPAR in the country grew 3.9% to 379.55 Chinese yuan and ADR fell 1.2% to 543.31 yuan. Demand grew 8.6%, outweighing supply growth, which only increased by 3.3% during the month, with key markets such as Shanghai, Beijing, Nanjing, Guangzhou, Hangzhou and Sanya all recording performance growth.

Meanwhile, Singapore posted a decline on the year in RevPAR of 7.1% to S$216.64, marking its lowest absolute November RevPAR level since 2008. The country's hotel market also recorded an ADR fall of 3.9% to S$271.47, and a 3.3% softening in occupancy levels to 79.8%.

The year-to-date supply growth of 3.5% was consistent, and this contributed to the negative results, adding pressure on performance and fewer major events in the market.

As of Dec. 21, US$1 was equivalent to 6.95 Chinese yuan and S$1.44.