U.S. dollar constant currency, November 2018 vs. November 2017
Despite a 0.7% decrease in demand (room nights sold) and an overall decline in occupancy, Beijing posted its highest absolute ADR for any November since 2011. STR analysts note that ADR has increased year over year in the market for 19 consecutive months. That has led to consistent growth in RevPAR, which was up 10.6% year to date through November.
November was Seoul’s second-consecutive month of RevPAR growth after a 19-month stretch of declines that were due in part to geopolitical tension with China. Demand was up 11.6% for the month with a 34.6% rise in the Group segment and a 7.6% lift in Transient business. STR analysts attribute that growth to continued increases in international arrivals from key markets such as Japan, Taiwan and Mainland China. Overall, visitor arrivals to South Korea bounced back and increased 31.1% during the first 10 months of the year, according to the Korea Tourism Organization.
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