Hotels in the Asia Pacific region reported record-low performance in 2020, according to data from STR. In a year-over-year comparison, hotels in the region reported a 35.6% drop in occupancy to 44.5% and a 22.2% decrease in average daily rate to $74.99, resulting in revenue per available room falling 49.9% to $33.39.

“Each of the three key performance metrics were the lowest for any year on record in the region,” the news release states.

STR is the parent company of Hotel News Now and a division of CoStar Group.

In its latest supply forecast, STR is now modeling permanent hotel closures because of the effects of the coronavirus pandemic, writes Christian Suarez, junior analyst at STR. In previous years, permanent closures haven’t been a key trend in STR’s supply as it averaged at about 0.3% each year across all continents.

The Asia Pacific region — excluding China — reported the lowest permanent closure rate over a five-year period with a total of 1.7% of 2009 permanently closing. China’s rate was 1.2% of closures.

In a three-year estimated permanent closure rate ranging from April 2020 to March 2022, markets in the Asia Pacific are expected to see fewer closures compared to other global regions.

Australia’s hoteliers are waiting for a comeback in domestic travel after months of lockdowns and border closures, writes HNN contributor Tamara Thiessen. These restrictions have led to a significant loss in leisure and business demand.

Michael Johnson, CEO of Tourism Accommodation Australia, a division of the AAOA, said travel restrictions meant “(Central business district) hotels right around Australia basically came to a standstill.”

With the combined effect of “border closures, no international tourists and a lack of any corporate or major events,” performance across the country slumped to record low levels, Johnson said.

• The 309-room Parmelia Hilton Perth will reopen following a 10-month, 45 million Australian dollar ($34.9 million) renovation.
• Hong Kong’s hospitality and tourism marketing company The Delivering Group entered a partnership with U.S.-based Valor Hospitality Partners for white-label management services and sales and marketing support to its hotels and resorts globally.
• Singapore’s City Developments Limited will sell the Copthorne Orchid Hotel & Resort Penang in Malaysia to Malaysia-based Ivory Properties Group Berhad for approximately 75 million Malaysian ringgit ($18.5 million).
• Through a joint venture, Singapore-based Park Hotel Group and Apricot Capital acquired a newly built 114-room boutique hotel in Kyoto, Japan, which will be branded as the Park Hotel Kyoto.

Compiled by Bryan Wroten.