Asia Pacific recorded the largest decline in international tourist arrivals of any region in 2020. The number of visitors fell 84 percent year-over-year (y-o-y), largely due to travel restrictions enforced since March 2020, according to CBRE.
The near total shutdown in international travel during 2020 led to sharp falls in Asia Pacific hotel occupancy and average daily rate (ADR). Regional occupancy declined to 44.7 percent, while ADR fell by 24.5 percent y-o-y to $74.51. Revenue per available room (RevPAR) stood at US$34.0 in 2020, representing a drop of 50.4 percent y-o-y.
The gradual rollout of vaccines is expected to restore some confidence in traveling and lead to the gradual easing of travel restrictions in 2021, although the outlook remains opaque. Governments and industry players continue to implement various policies and partnerships to revive the travel and tourism industries.
Asia Pacific hotel transaction volume reached $6.7 billion in 2020, a fall
