Asia-Pacific Hotel Market Ended 2024 Strong
Skift Take
December 2024 saw strong RevPAR growth across Asia Pacific, with Vietnam, Japan, Thailand, and India leading the region, signaling a positive trend for 2025.
STR reported China hotel data for the week ended February 1. China hotel RevPAR was up 27.3% year over year. It was up against a +8% comp in the year-ago week. ADR was up 45.6% year over year, offsetting an occupancy decline of -12.6%. This was the first week of the Chinese New Year shift impact.
STR also gave a 2024 summary for Asia Pacific. They reported on December being a strong end to 2024 across the AP region, with 16 of the 20 largest countries based on hotel room supply reporting year-over-year growth in RevPAR. New Year’s Eve was the top-performing day in terms of actual RevPAR in all but Nepal. They said December is usually the slowest month of the year for most countries, so the strong performance bodes well for 2025. Vietnam was the top in RevPAR growth in December, with growth in both ADR and occupancy. The country held the top spot in growth in 9 of the 12 months of 2024. Japan was in second place and placed in the top five every month in 2024. Thailand wa
