South Korea's Hotels Thrive, While Thailand's Struggle
Skift Take
Asia-Pacific hotel news spans Hilton's Tempo expansion in China, a new Hakone resort from Mitsui Fudosan, and more.
Sydney, Australia's hotels posted year-over-year growth in key performance metrics in June, according to preliminary data from CoStar. Occupancy was up 1.1% to 74.1% year over year, while ADR was up 2.6% to A$243.81. RevPAR was up 3.7% to A$180.77. This was the highest June occupancy for Sydney hotels since 2019. VIVID Sydney caused the occupancy peak of 92.7% on June 6th, while ADR that night peaked at A$323.93, resulting in a RevPAR of A$300.39, the only night in the month that ADR and RevPAR exceeded A$300. All but three nights in June had occupancy over 60%, helped by a decrease in hotel supply of -0.1% for the period. CoStar said forward bookings show occupancy for July tracking two percentage points below last year and one percentage point below for August.
The South Korean Ministry of Culture, Sports and Tourism said cumulative inbound tourist arrivals reached a record 8.72 million in the first five months of the year. By June 20th, that number had gone past 10 mil
