Hotel Performance | the world and China
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The document discusses hotel performance trends in Asia Pacific and China in 2013 and forecasts for 2014. Some key points include: - China saw hotel room supply growth outpace demand for the first time since 2009 in 2013. - Revenue per available room (RevPAR) varied significantly between cities for upscale hotels in China. - Indonesia's growing hotel development pipeline is decreasing the future supply gap compared to China and India. - Occupancy and average daily rates are expected to drive RevPAR growth in most Asia Pacific markets in 2014.
Hotel Performance | the world and China
- 1. CHAT - ? 2014 STR Global www.strglobal.comCHAT - ? 2014 STR Global www.strglobal.com Hotel Performance | the world and China CHAT Beijing 2014 Jesper Palmqvist, Area Director Asia Paci?c Fiona He, Country Manager China ¾Æµê±íÏÖ¸ÅÀÀ ÊÀ½çÓëÖйú
- 2. CHAT - ? 2014 STR Global www.strglobal.com The world¡¯s leading Hospitality Benchmark company Aggregating key hotel metrics into valuable performance data ! Global client base ~50,000 hotels submitting performance data ! Industry standard used by all major hotel groups APAC: +5,300 hotels! +1,000,000 rooms È«Çò·¶Î§ÄÚÓµÓг¬¹ý5Íò¼ÒºÏ×÷¾Æµê£¬Ê÷?Á¢±ê¸ËÊý¾Ý¹ÜÀí?ÐÐÒµ ±ê×¼²¢Îª¸÷?´ó¾Æµê¼¯ÍÅ??¹ã·º²É?Óà ȫÇòÁìÏȵľƵêÊý¾Ý·þÎñÌṩ»ú¹¹
- 3. CHAT - ? 2014 STR Global www.strglobal.com 5 5 things to know ÄãÐèÒªÖªµÀµÄ5¼þÊ In 2013 SEA achieved highest KPI levels after AU/Paci?c 2013Ä궫ÄÏÑǵØÇø¹Ø¼üÖ¸±êÖµ±íÏÖ½ö´ÎÓÚ̫ƽÑóµØÇø China growth in supply outpaced demand in 2013 for the ?rst time since 2009 2013ÄêÖйú¾Æµê¹©¸øÁ¿ÕÇ·ù5Äê¼ä?Ê״γ¬¹ýÐèÇóÁ¿ÕÇ·ù Large RevPAR variations by city in China Upscale hotels Öйú¸÷³ÇÊÐ?¸ß¶Ë¾Æµêÿ¼ä¿ÉÊÛ·¿ÊÕ?ÈëÓкÜ?´ó²îÒì Indonesia pipeline growth - future supply gap decreasing vs China and India Ó¡ÄáδÀ´ÐÂÔö¹©¸ø£Î´À´¹©¸øÓëÖйúºÍÓ¡¶È²î¾àÖð½¥Ëõ?С Beijing, Hong Kong, Singapore, Tokyo and Sydney - all expected to grow RevPAR in 2014 ±±¾©£¬?Ïã¸Û£¬Ð¼ÓÆ£¬¶«¾©ºÍϤÄá2014Äêÿ¼ä¿ÉÊÛ·¿ÊÕ?ÈëÔ¤ÆÚʵÏÖÕýÖµÔö?³¤
- 4. CHAT - ? 2014 STR Global www.strglobal.com Global performance RevPAR £ È«Çò±íÏÖ¸ÅÀÀ YE 2013, % Chg in USD, Europe in Euro £ 2013Äêÿ¼ä¿ÉÊÛ·¿ÊÕ?Èë + 5.4% + 1.4% + 4.6% APAC only continent declining YoY USD offsets countries like Japan, Thailand and Australia - 4.3% South Korea! China! ! India! Singapore ÑÇÌ«ÇøÊÇΨ?Ò»³öÏÖͬ?±ÈϽµµÄÇøÓò ?ÈÕ±¾£¬Ì©¹úºÍ°Ä?´óÀûÑǵıíÏÖÊܵ½À´?×ÔÃÀÔªµÄÓ°Ïì
- 5. CHAT - ? 2014 STR Global www.strglobal.com Global performance RevPAR £ È«Çò¾Æµê±íÏÖ¸ÅÀÀ YTD 2014 Feb, % Chg in USD, Europe in Euro 2014Äê1-2?ÔÂÿ¼ä¿ÉÊÛ·¿ÊÕ?Èë + 6.1% + 5.5% + 6.0% A brighter picture on macro level USD offset aside - India and Thailand main reasons - 2.0% ºê¹Û²ã?ÃæÉÏÇé¿ö¸üΪÀÖ¹Û µ«ÑÇÌ«Çø£¬³ýÁËÃÀÔªµÄÓ°Ï죬Ö÷ҪϽµ³öÏÖÔÚÓ¡¶ÈºÍÌ©¹ú
- 6. CHAT - ? 2014 STR Global www.strglobal.com Spotlight Asia Paci?c £ ÑÇÌ«Çø±íÏÖ¸ÅÀÀ 2013 YE, RevPAR $, % Chg (USD) £ 2013Äêÿ¼ä¿ÉÊÛ·¿ÊÕ?Èë Central & South Asia! RevPAR $75 | -7.4%! Driven by ADR NorthEast Asia! RevPAR $71 | -5.9%! Driven by ADR SouthEast Asia! RevPAR $100 | +3.5%! Both Occ and ADR Paci?c! RevPAR $124 | -3.4%! Driven by ADR? (NB! USD-AUD)
- 7. CHAT - ? 2014 STR Global www.strglobal.com APAC Classes Occ and ADR £ ÑÇÌ«Çø¸÷¼¶±ð¾ÆµêÊг¡±íÏÖ YE 2012 & 2013 (USD) and % change YoY £ ·¿¼ÛºÍ?ÈëסÂÊͬ?±È±ä»¯ÂÊ 2013¶Ô?±È2012 US$0 US$60 US$120 US$180 US$240 60% 62% 64% 66% 68% 70% 72% 74% Luxury Upper Upscale Upscale Upper Midscale Midscale & Economy Occ 12 Occ 13 ADR 13 -0.9 -4.4 -4.4 -5.0 -7.5 -0.9 +1.0 -0.4 -1.6 +0.7
- 8. CHAT - ? 2014 STR Global www.strglobal.com APAC Room Supply/Demand % Change £ ÑÇÌ«Çø±íÏÖ¸ÅÀÀ 12 months moving avg YE 2009 to Feb 2014 £ ¹ö¶¯12¸ö?Ô¹©¸øÁ¿ºÍÐèÇóÁ¿±ä»¯ÂÊ -2% 0% 2% 4% 6% 8% 10% 12% 14% 16% 2010 2011 2012 2013 2014 Supply % Chg Demand % Chg Demand growth on the rise again ÐèÇóÁ¿³ÊÉÏÉýÇ÷ÊÆ
- 9. CHAT - ? 2014 STR Global www.strglobal.com APAC Countries - Occ, ADR % Chg ÑÇÌ«Ö÷Òª¹ú¼Ò YE 2013, in local currency 2013Äê·¿¼ÛºÍ?ÈëסÂʱ仯ÂÊ -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% India China South Korea Singapore Australia Philippines Thailand Japan Taiwan Indonesia Occupancy ADR who¡¯s driving rate? ËÔÚ´ø¶¯·¿¼ÛÔö?³¤£¿
- 10. CHAT - ? 2014 STR Global www.strglobal.com YTD Feb 2014, in local currency £ 2014Äê1-2?Ô·¿¼ÛºÍ?ÈëסÂʱ仯ÂÊ -18% -15% -12% -9% -6% -3% 0% 3% 6% 9% 12% 15% 18% India China South Korea Singapore Australia Philippines Thailand Japan Taiwan Indonesia Occupancy ADR signi?cant shifts ÏÔÖø±ä»¯ APAC Countries - Occ, ADR % Chg ÑÇÌ«Ö÷Òª¹ú¼Ò
- 11. CHAT - ? 2014 STR Global www.strglobal.com Öйú China
- 12. CHAT - ? 2014 STR Global www.strglobal.com China - Öйú CAGR 2007 - 2013 YE (CNY) -7% -6% -5% -4% -3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7% Occupancy ADR RevPAR Supply Demand
- 13. CHAT - ? 2014 STR Global www.strglobal.com China Room Supply/Demand % Change £ Öйú±íÏÖ¸ÅÀÀ 12 months moving avg YE 2010 to Feb 2014 £ ¹ö¶¯12¸ö?Ô¹©¸øÁ¿ºÍÐèÇóÁ¿±ä»¯ÂÊ 0% 5% 10% 15% 20% 25% 30% 2010 2011 2012 2013 2014 Supply % Chg Demand % Chg Demand on the rise? ÐèÇóÁ¿Ôö?³¤»á³ÖÐø±£³ÖÔö?³¤£¿
- 14. CHAT - ? 2014 STR Global www.strglobal.com China £ Öйú By class: YE 2012 and 2013, Occ, ADR with % Chg ¸÷¼¶±ðÊг¡2013Äê·¿¼ÛºÍ?ÈëסÂʱ仯ÂÊ Luxury Upper Upscale Upscale Upper Midscale Midscale & Economy Occ 12 Occ 13 ADR 13 -2.3 -4.0 -0.3 -2.5 -3.2 -0.3 -2.5 -3.2 -0.5 -1.6
- 15. CHAT - ? 2014 STR Global www.strglobal.com China £ Öйú Main Cities RevPAR % growth YE 2012 and 2013 - Ö÷Òª³ÇÊпÉÊÛ·¿ÊÕ?Èëͬ?±È±ä»¯ÂÊ Chengdu! Ningbo! Wuxi! Shenyang! Beijing! Suzhou! Sanya! Xian! Wuhan! Tianjin! Nanjing! Chongqing! Guangzhou! Shanghai! Hangzhou! Xiamen! Shenzhen! -10% to -20% -4% to -10% 0% to -3% +1% to +10%
- 16. CHAT - ? 2014 STR Global www.strglobal.com China £ Öйú RevPAR (Luxury-Upscale) growth and actual Ö÷Òª³ÇÊÐ?¸ß¶Ë¾ÆµêÊг¡Ã¿¼ä¿ÉÊÛ·¿¼°±ä»¯ÂÊ -30% -20% -10% 0% 10% Wuxi Shenyang Tianjin Chongqing Ningbo Xian Suzhou Nanjing Wuhan Chengdu Hangzhou Xiamen Beijing Shanghai Guangzhou Shenzhen Sanya RevPAR Growth RevPAR
- 17. CHAT - ? 2014 STR Global www.strglobal.com -18% -15% -12% -9% -6% -3% 0% 3% 2011 2012 2013 Transient Group Segmentation £ ϸ·ÖÊг¡ RevPAR growth YoY - Beijing, Shanghai, Guangzhou, Shenzhen ÿ¼ä¿ÉÊÛ·¿ÊÕ?Èë±ä»¯ÂÊ£±±¾©£¬ÉϺ££¬??¹ãÖÝ£¬ÉîÛÚ
- 18. CHAT - ? 2014 STR Global www.strglobal.com Revenue Generator Index (RGI) on YE 2008 0.7 0.8 0.9 1 1.1 2008 2009 2010 2011 2012 2013 USA Europe China ÊÕ?ÈëÖ¸Êý±ä»¯Ç÷ÊÆ
- 19. CHAT - ? 2014 STR Global www.strglobal.com Outlook Ç°¾°Õ¹Íû
- 20. CHAT - ? 2014 STR Global www.strglobal.com Branded vs. Unbranded Mega Brand Awesome Family Europe & South America North America 65% - 35% 57% - 43% 47% - 53% 40% - 60% 36% - 64% Middle East Asia Paci?c Africa Æ·ÅƾƵê vs. ?·ÇÆ·ÅƾƵê Å·ÖÞºÍÄÏÃÀ ±±ÃÀ Öж« ÑÇÌ« ?·ÇÖÞ (Batman)(Mr Brand)
- 21. CHAT - ? 2014 STR Global www.strglobal.com Global Pipeline £ È«Çò³ï½¨Ïî??Ä¿¸ÅÀÀ Pipeline % increase # of rooms ·¿¼äÊýÔö?³¤ÂÊ +7% +22% +3% +37% +7% +14%
- 22. CHAT - ? 2014 STR Global www.strglobal.com Pipeline by Class - ¸÷¼¶±ð¾Æµê³ï½¨Ïî??Ä¿¸ÅÀÀ China India Indonesia Malaysia Thailand 14% 51% 33% 10% 8% 8% 12% 19% 12% 2% 49% 22% 34% 43% 40% 29% 16% 14% 35% 50% Luxury & Upper Upscale Upscale & Upper Midscale Midscale & Economy Unaf?liated Chain Scale Active Pipeline 15% ! 25% ! 33% ! 22% ! 9% Top 5 Pipeline countries, Supply increase % of existing Jan 2014 δÀ´ÐÂÔö¹©¸ø×î¶àµÄÇ°Îå?´ó¹ú¼Ò ÓÐЧÐÂÔö¹©¸ø
- 23. CHAT - ? 2014 STR Global www.strglobal.com Pipeline - Growth status ³ï½¨Ïî??Ä¿¸ÅÀÀ China | India | Indonesia - Supply growth Öйú Ó¡¶ÈºÍÓ¡Äá δÀ´¹©¸øÔö?³¤Ç÷ÊÆ 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Indonesia India Ratio China 17% 16% 13% 12% 12% 13% 14% CAGR 3.8% CAGR 11.9% CAGR 10.3%
- 24. CHAT - ? 2014 STR Global www.strglobal.com Occupancy % Change ADR%Change Occupancy & ADR % Change 2013 YE - ·¿¼ÛºÍ?ÈëסÂʱ仯ÂÊ Occupancy - ?ÈëסÂÊ Market Forecast - Êг¡Ô¤²â
- 25. . CHAT - ? 2014 STR Global www.strglobal.com everything is awesome in 2014..? 2014Äê?Ò»Çж¼ºÜÃÀºÃ..?
- 26. CHAT - ? 2014 STR Global www.strglobal.com Market Forecast £Êг¡Ô¤²â Occupancy & ADR % Change 2014 forecast 2014Äê·¿¼ÛºÍ?ÈëסÂʱ仯ÂÊ ADR%Change Occupancy % Change Rates to drive RevPAR - ·¿¼ÛÊÇÇý¶¯ ÿ¼ä¿ÉÊÛ·¿ÊÕ?ÈëÔö?³¤µÄ¶¯Òò
- 27. CHAT - ? 2014 STR Global www.strglobal.com 0% 5% 10% 15% 20% 25% 30% YE2009 YE2010 YE2011 YE2012 YE2013 YE2014f YE2015f YE2016f Demand GDP China Demand vs GDP - ÖйúÐèÇóÁ¿ÓëGDP·¢Õ¹Ç÷ÊÆ
- 28. CHAT - ? 2014 STR Global www.strglobal.com One more thing¡ »¹ÓÐ?Ò»¼þÊ¡
- 29. CHAT - ? 2014 STR Global www.strglobal.com Global P&L 2012 - È«Çò¸÷¸öÇøÓò Regional performance 2012 % Change -9 -6 -3 0 3 6 9 12 Asia Paci?c ($) Americas ($) Europe (€) Middle East & Africa ($) Occupancy ADR RevPAR GOPPAR
- 30. CHAT - ? 2014 STR Global www.strglobal.com P&L 2012 - Öйú¾ÆµêÓ¯ÀûÊý¾Ý China P&L performance 2012 % Change -3% 0% 3% 6% 9% 12% Total Revenue Dept. Expenses Undist. Expenses GOP Net Income Total Payroll +8% +10% +10% +5% +12%-3%
- 31. CHAT - ? 2014 STR Global www.strglobal.com 5 5 things to know ÄãÐèÒªÖªµÀµÄ5¼þÊ In 2013 SEA achieved highest KPI levels after AU/Paci?c 2013Ä궫ÄÏÑǵØÇø¹Ø¼üÖ¸±êÖµ±íÏÖ½ö´ÎÓÚ̫ƽÑóµØÇø China growth in supply outpaced demand in 2013 for the ?rst time since 2009 2013ÄêÖйú¾Æµê¹©¸øÁ¿ÕÇ·ù5Äê¼ä?Ê״γ¬¹ýÐèÇóÁ¿ÕÇ·ù Large RevPAR variations by city in China Upscale hotels Öйú¸÷³ÇÊÐ?¸ß¶Ë¾Æµêÿ¼ä¿ÉÊÛ·¿ÊÕ?ÈëÓкÜ?´ó²îÒì Indonesia pipeline growth - future supply gap decreasing vs China and India Ó¡ÄáδÀ´ÐÂÔö¹©¸ø£Î´À´¹©¸øÓëÖйúºÍÓ¡¶È²î¾àÖð½¥Ëõ?С Beijing, Hong Kong, Singapore, Tokyo and Sydney - all expected to grow RevPAR in 2014 ±±¾©£¬?Ïã¸Û£¬Ð¼ÓÆ£¬¶«¾©ºÍϤÄá2014Äêÿ¼ä¿ÉÊÛ·¿ÊÕ?ÈëÔ¤ÆÚʵÏÖÕýÖµÔö?³¤
- 32. CHAT - ? 2014 STR Global www.strglobal.com Thank You лл Jesper Palmqvist | Fiona He STR Global +86 10 8518 2438 www.strglobal.com STR Global, Ltd is the exclusive owner of all rights in this presentation and its content. Reproduction of all or a portion of this presentation for any purpose without prior approval of STR Global is strictly prohibited. ! This presentation is based on information compiled by STR Global Ltd. No strategic or marketing recommendations or advice are intended or implied. Email us for a copy of this deck ÈôÐèÍêÕûÑݽ²×ÊÁÏ,ÇëÁªÏµÎÒÃÇ apinfo@strglobal.com STR Global ¶Ô´Ë·Ý×ÊÁÏÏíÓжÀ¼Ò°æȨ¡£Ñϸñ½û?Ö¹ÔÚδ¾ÔÊÐíµÄÇé¿ö϶Ô×ÊÁÏÄÚµÄÄÚÈÝ»ò²¿·ÖÄÚÈݽø?Ðи´ÖÆÔÙ°æ¡£! ! ´Ë·Ý×ÊÁÏÄÚÈÝ»ùÓÚSTR Global Ltd.µÄÊý¾ÝÐÅÏ¢£¬²»´øÓÐÈκζÔÓÚ²ßÂÔ»òÊг¡ÇãÏòÐÔ?ÑÔÂÛºÍÒâͼ¡£!