2018 ASEAN Hotel Industry Survey of Operations Calendar Year

Transcription

1 2018 ASEAN Hotel Industry Survey of Operations 2017 Calendar Year

2 TABLE OF CONTENTS SUMMARY OF RESULTS 5 TABLE 2.1 DEPARTMENTAL REVENUES AND EXPENSES (BANGKOK) 9 TABLE 2.2 DEPARTMENTAL REVENUES AND EXPENSES (HCMC/ HANOI) 10 TABLE 2.3 DEPARTMENTAL REVENUES AND EXPENSES (JAKARTA) 11 TABLE 2.4 DEPARTMENTAL REVENUES AND EXPENSES (KUALA LUMPUR) 12 TABLE 2.5 DEPARTMENTAL REVENUES AND EXPENSES (MANILA) 13 TABLE 2.6 DEPARTMENTAL REVENUES AND EXPENSES (SINGAPORE) 14 FOOD & BEVERAGE STATISTICS 15 TABLE 3.1 FOOD AND BEVERAGE STATISTICS (PART 1) 15 TABLE 3.2 FOOD AND BEVERAGE STATISTICS (PART 1) 16 TABLE 3.3 FOOD AND BEVERAGE STATISTICS (PART 2) 17 SPA STATISTICS 18 TABLE 4 SPA STATISTICS 18 LABOUR STATISTICS 19 TABLE 5 LABOUR STATISTICS 19 PRODUCTIVITY ANALYSIS 20 TABLE 6 PRODUCTIVITY ANALYSIS 20 RESERVATION & SALES STATISTICS 21 TABLE 7 RESERVATION AND SALES STATISTICS 21 BUSINESS MIX PROFILE 22 TABLE 8 BUSINESS MIX PROFILE 22 NATIONALITY PROFILE 23 TABLE 9 NATIONALITY PROFILE 23 CHARTS 24 CHART 1 OCCUPANCY, ADR AND REVPAR PERFORMANCE 24 CHART 2 ADR BY MARKET SEGMENT 24 EXPLANATION OF TERMS & BASES USED 25 ABOUT HORWATH HTL ASIA PACIFIC 26 Published: October All data represents calendar year 2017 performance. This report is sold or otherwise made available on an individual basis, and no part may be reproduced or transmitted, in any form or by any means, without the express written consent of Horwath HTL. If and when such permission is granted, the user must always source Horwath HTL, Requests to transmit or republish any of the information contained in the report should be sent to singapore@horwathhtl.com. Disclaimer: The information contained in this report, is based on data provided by participating hotel properties. This data has not been audited or verified by Horwath HTL or any third party as to its accuracy. While every effort has been made to ensure that data obtained is correct, the accuracy of the information presented is not in any way guaranteed by Horwath HTL. Users of this information should not rely solely on this information for commercial and financial decisions; any such reliance is at the user s risk. Horwath HTL will not accept any liability for any loss, financial or otherwise, resulting from decisions made based on the data presented. ASEAN HOTEL INDUSTRY SURVEY

3 FOREWORD BY HORWATH HTL ASIA PACIFIC Dear Industry Partners, Horwath HTL is once again pleased to present the 2018 ASEAN Hotel Industry Survey of Operations. This study presents results gathered from Horwath HTL s Industry Surveys and refers to calendar year In this issue of the ASEAN Hotel Industry Survey, aggregated results of 76 established top-tier hotels with 28,471 rooms in Bangkok, Ho Chi Minh City (HCMC)/Hanoi, Jakarta, Kuala Lumpur, Manila and Singapore are presented as benchmarks. We would like to extend our heartfelt appreciation to the hotel owners and managers participating in this year s study and our Honorary Advisory Board for their support and interest in this study. We would also like to thank the Indonesian Hotel and Restaurant Association, Singapore Hotel Association and Thai Hotels Association for their continuous support. We hope to increase future participation from hotels and resorts in the region, so as to make this publication ever more representative. Finally, we are grateful for any feedback about this publication as well as our services. Please visit our website at and to learn more about the services we offer and the publications we release throughout the region as well as elsewhere around the world. Yours Sincerely, Robert Hecker Managing Director Horwath HTL Pacific Asia ASEAN HOTEL INDUSTRY SURVEY

4 ANNUAL STUDY HONORARY ADVISORY BOARD Patrick Basset Upper Southeast & Northeast Asia Alan Watts President, Asia Pacific Garth Simmons Malaysia, Indonesia and Singapore Vincent Lelay Vice President, Operations Korea Tom Smith Senior Vice President of Operations Asia Pacific, Limited Clarence Tan Managing Director for South East Asia and Korea Des Pugson Managing Director Leanne Harwood Managing Director for Australasia and Japan Pascal Gauvin Managing Director for India, Middle East and Africa David R. Good Vice President, Operations Michael Henssler Asia Arthur Kiong Andrew Jessop Senior Vice President Development Worldwide Rainer Stampfer President, Hotel Operations Asia Pacific Paul Hugentobler Group Director of Operations Choe Peng Sum Dr. Jennifer Cronin President ASEAN HOTEL INDUSTRY SURVEY

5 Craig S. Smith President & Managing Director Asia Pacific Mohd K Rafin Chief Corporate Officer Tan Kim Seng Lothar Nessmann Dillip Rajakarier Minor Hotel Group Minor International Pcl Katerina Giannouka President, Asia Pacific Andrew Langdon Chief Development Officer Neil Jacobs Dean Schreiber Managing Director Frederic F. Simon Asia Douglas Martell President and CEO Barry Robinson President and Managing Director Wyndham Vacation Resorts Asia Pacific Wyndham Hotel Group South East Asia and Pacific Rim ASEAN HOTEL INDUSTRY SURVEY

6 EXPLANATORY NOTES SUMMARY OF RESULTS Room Revenue presented on Profit and Loss Statement for Singapore properties is inclusive of Service Charge, which is regarded as part of the Revenue. While for other cities (Bangkok, HCMC/Hanoi, Jakarta, Kuala Lumpur and Manila), Service Charge is treated as gratuity which is passed on directly to staff, and hence, it is not included in the Revenue. In this survey, we included hotels that recorded average daily rates above a certain level for each city i.e. above USD 109 in Bangkok, above USD 110 in HCMC/Hanoi, above USD 117 in Jakarta, above USD 62 in Kuala Lumpur, above USD 101 in Manila and above USD 202 in Singapore. The various rate levels have been selected to achieve a consistent grouping of hotels relative to quality levels across each market. It should be noted that the results presented in this study will be different than the ones in the individual country studies, given the differences in hotel selections. The Food & Beverage Revenues and percentages may not total between Departmental Revenues and Expenses and Food and Beverage Statistics I & II, given figures presented are weighted averages based on those hotels that provided data for each line item. KEY FINDINGS A total of 76 hotels contributed to this year s ASEAN study, representing 28,386 rooms available per day. In terms of occupancy, Bangkok remained the strongest performer at 82 percent, followed by HCMC/Hanoi (81%) and Singapore (78%). Jakarta had the lowest occupancy of 57 percent. Overall, all cities recorded an improvement in occupancy rate except Singapore. Singapore retained its position as the highest ADR performer, at USD 256, while Kuala Lumpur recorded the lowest ADR of USD 95. Most markets registered negative growth in ADR, with Singapore and Kuala Lumpur experiencing the largest decrease of 7 percent. On the other hand, HCMC/Hanoi achieved the strongest ADR growth of 5 percent. Despite recording a decline in both occupancy and ADR, hotels in Singapore remained the RevPAR leader in the region with a RevPAR of USD 200. Driven by the market s healthy growth in both occupancy and ADR, HCMC/Hanoi overtook Bangkok to come in second place with a RevPAR of USD 115. Similar to 2016, Kuala Lumpur continued to record the lowest RevPAR at USD 67. With the exception of Singapore and Kuala Lumpur, all markets registered improvements in RevPAR compared to This year Total Revenue per available room varied across all markets, comparing the top two to the bottom two markets: the best performing market is Singapore leading at USD 134,456, followed by Jakarta at USD 76,368. The worst performing being Kuala Lumpur at USD 38,957, followed by Manila at USD 63,319. Manila and HCMC/Hanoi recorded the highest growth rates in Total Revenue per available room at 19 and 13 percent, respectively. EBITDA as a percentage of Total Revenue ranged from 19 percent (Manila) to 43 percent (HCMC/Hanoi). ASEAN HOTEL INDUSTRY SURVEY

7 TABLE 1 CITY SUMMARY 2017 VS BANGKOK HCMC / HANOI JAKARTA US Dollar Exchange Rate* , , , , Number of Hotels Number of Rooms Available per Day 5,188 5,261 3,056 3,308 3,402 3,572 Number of Rooms Occupied per Day 4,277 4,301 2,464 2,482 1,948 1,037 Hotel Occupancy 82% 82% 81% 75% 57% 53% Average Daily Room Rate (USD) RevPAR (USD) Total Revenues per Available Room (USD) 68,169 69,304 71,176 62,782 76,368 65,031 Total Expenses per Available Room (USD) 48,774 46,085 39,563 34,792 52,585 48,768 GOP per Available Room (USD)** 22,177 20,946 31,613 23,732 23,804 16,314 GOP As a Percentage of Total Revenue (%) 34% 34% 51% 45% 32% 27% EBITDA per Available Room (USD)** 11,571 8,703 25,116 18,680 15,448 8,614 As a Percentage of Total Revenue (%) 24% 20% 43% 40% 24% 18% KUALA LUMPUR MANILA SINGAPORE US Dollar Exchange Rate* Number of Hotels Number of Rooms Available per Day 5,283 5,521 3,331 2,996 8,126 7,494 Number of Rooms Occupied per Day 3,760 3,741 2,341 2,068 6,349 5,917 Hotel Occupancy 71% 68% 70% 69% 78% 79% Average Daily Room Rate (USD) RevPAR (USD) Total Revenue per Available Room (USD) 38,957 41,522 63,319 53, , ,269 Total Expenses per Available Room (USD) 25,208 27,359 46,758 38,684 83,981 92,476 GOP per Available Room (USD)** 13,749 14,275 16,627 11,304 50,475 55,854 GOP As a Percentage of Total Revenue (%) 37% 34% 27% 29% 38% 38% EBITDA per Available Room (USD)** 5,997 7,182 9,153 3,664 35,515 39,871 As a Percentage of Total Revenue (%) 25% 21% 19% 19% 30% 31% *X-rates.com 2017 Annual Average Rate **GOP = Gross Operating Profit, EBITDA = Earnings Before Interest, Tax, Deprecation and Amortisation ASEAN HOTEL INDUSTRY SURVEY