Accor blames oversupply in Australian market for dip in revPAR

The Australian hotel market has dented figures for Accor’s Asia Pacific revenue per available room (revPAR) this quarter, according to the hotel giant’s latest market release.

Accor’s Australian revPAR fell 1.6 per cent in the three months to March, against a 1.6 per cent increase in group revPAR.

Asia-Pacific revPAR fell 0.6 per cent pulled down by Australia, “where oversupply in major cities and the upcoming general elections affected prices and occupancy rates”.

Australia wasn’t alone in posting a decline, with the markets in Thailand, Vietnam and Malaysia seeing a 3 per cent fall in revPAR over the first quarter driven by weaker Chinese visitor numbers.

Europe was Accor’s star market over the quarter with a “resilient” 3.3 per cent rise in revPAR, while revPAR fell 0.7 per cent in the Middle East & Africa region and dropped 2.1 per cent in North America, Central America & the Caribbean.

“In a turbulent macroeconomic environment, the group’s first-quarter revenue performance highlights the effectiveness of our transformation and the soundness of our strategy,” said Accor global CEO Sebastien Bazin. “Europe remained strong, while South America continued its robust recovery.”