Asia Pacific

Analysis by Kelsey Fenerty

For the past six months, Osaka has played host to the World Expo, a quinquennial event that brings together people and innovations with a focus on key global challenges. The event has historically generated substantial gains in hotel performance, a pattern that was evident in Osaka and neighboring markets in Japan.

Financial Year Performance: Performance was influenced by cyclical movements through 2024-2025. Capital and regional areas predominantly saw growth with very few markets reporting negative performance this financial year to last. 

Click to view the 2024-2025 Financial-Year Data File.

Kelsey Fenerty, Manager of Analytics at STR, gives a quick overview of the global market forecast. 

An extended version of our Global Market Forecast Assumptions analysis can be found here.

April performance across the Asia Pacific hotel industry was positive as 10 of the region’s 16 largest countries grew occupancy, average daily rate (ADR) and revenue per available room (RevPAR). In fact, all but three countries—China, Singapore and Thailand—experienced RevPAR gains. 

Overall Performance in Mainland China

The Spring Festival, or Chinese New Year, is China's most important traditional holiday, and has always been a peak period for travel and tourism. This year, the economic slowdown has brought some pressure to the hotel industry. While Mainland China hotels welcomed the Spring Festival influx, it also faced numerous challenges.

Analysis by Chris Klauda and Claudia Alvarado Cruz

Note: Beginning with this January 2025 version, monthly “bubble chart” updates will reflect a more granular, regional focus on performance. Each month will focus on a different world region with more analysis as opposed to the global view from previous years.

Financial Year Performance: A return to normalised growth across all quarters. Key drivers include increased occupancy, event-driven ADR, and sustained demand in a majority of tourism regions.

Click to view the 2023-2024 Financial-Year Data File.

According to estimates from the Data Center of the Ministry of Culture and Tourism, the five-day May Day period (1-5 May 2024) brought 295 million domestic tourism trips – a 28.2% jump against the same period in 2019 and a 7.6% increase year over year. However, per capita tourism spending only recovered to 88.5% of the 2019 level.

Analysis by Kelsey Fenerty