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May 8, 2015

Asia: Business Travel Demand Drives APAC Room Rates up in 1Q

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Hotel room rates were mostly up across the board in Asia-Pacific as business tourism surged this quarter, according to HRS Hotel Price Radar.

Macau, Sydney and Hong Kong were found to have the highest average hotel room rates, in the Singapore dollar, from January to March.

Room rates in Macau leapt 64 per cent year-on-year to hit S$269 (US$202), likely because Macau has been very proactive in developing MICE and business events to diversify and move away from relying only on gaming and mass Chinese tourism.

Sydney was in second place at S$243 despite a negative 2.3 per cent drop in average rates compared to the same time last year. Hong Kong prices soared by 20 per cent for an average of S$242 per night.

Business capitals in the region such as Singapore, Beijing, Shanghai, Jakarta and Bangkok all saw double-digit growth, indicating increased levels of business travel.

Todd Arthur, managing director Asia-Pacific for HRS, commented in a press release: “Asia-Pacific continues to draw visitors from across the world, and as this quarter’s HRS Hotel Price Radar shows, the business tourism segment in particular is going strong.

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