Sri Lanka Hotel Performance for Q1 2019

According to STR, ADR and RevPAR were up, but occupancy down.

In Q1 2019, Sri Lanka hotel performance was mixed. Hotel occupancy in Sri Lanka was down 5.5 per cent versus Q1 2018, according to data from analytics specialists STR.

Q1 2019 vs. Q1 2018:

  • Occupancy: -5.5% to 69.0%
  • Average daily rate (ADR): +19.6% to Rs 23,836
  • Revenue per available room (RevPAR): 13.0% to Rs 16,438

Occupancy declined with a fall in demand (-5.8%) combined with almost flat supply (-0.3%).

Room rates and revenue were up on the previous year. STR analysts recorded that ADR was up almost 20 per cent to just under Rs 24,000. Revenue was up 12.7 per cent on the first quarter last year.

A solid increase in RevPAR was recorded, up 13 per cent on Q1 2018 to reach almost Rs 16,500.

These figures cover the period for January to March 2019, compared to the same months in 2018. It is expected performance for the next quarter will be significantly down, due to the travel advisories in place following the April terror attack.

In April tourist arrival numbers were down 7.5 per cent. It is anticipated the arrivals in May will be down around 60 per cent on the previous year.

 

Source: STR is a data and analytic specialist founded in 1985. Their data sample in the hotel industry comprises over 64,000 hotels and 8.7 million hotel rooms around the world. Their sample size for Sri Lanka is 147 hotels of ten or more rooms.

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