Travel Trade Gazette (TTG) Asia have published an overview of a recent JLL survey which reports that luxury hotel properties in Jakarta and Bali are seeing stronger RevPAR surpassing pre-pandemic levels.
RevPAR refers to revenue per available room, and is a performance metric in the hotel industry that is calculated by dividing a hotel’s total guestroom revenue by the room count and the number of days in the period being measured.
For the financial year ending June 2023, luxury RevPAR in Jakarta reached IDR 1.4-million, 10 percent higher than in 2019. In Bali, luxury hotels registered a RevPAR of IDR 4.6-million, exceeding pre-pandemic levels by 21.4-percent.
Bali welcomed over 1.8-million international arrivals between January and May this year senior vice president, investment sales hotels and hospitality group, JLL Asia-Pacific, Julien Naouri said Jakarta hotels’ performance was boosted by increasing occupancy and average daily rates (ADR), which have risen along with international arrivals to the city, say TTG.
The latest data from the Central Board of Statistics (BPS) showed that international arrivals to Jakarta between January and May 2023 were at 639,497. In May, Jakarta welcomed about 158,000-international tourists, exceeding pre-pandemic levels for the first time, Naouri added.
Meanwhile, Bali has welcomed 1,863,837-international arrivals between January and May, representing 81-percent of the pre-pandemic levels, according to BPS.
The JLL survey also showed that both destinations will welcome more hotels by the end of 2023. Bali will see six hotel openings that will add 555-rooms to the existing inventory of 45,621 as of June. In Jakarta, two hotels; the 316-key Swiss-Belhotel Kelapa Gading and the 253-key Mövenpick Jakarta Pecenongan will contribute to the existing 58,105-rooms in the market.
Source: Travel Trade Gazette Asia
Stock luxury hotel in Bali image by Paolo Nicolello on Unsplash
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