Asia -  Jakarta, Indonesia

In 2015, Jakarta had approximately 1,000 rooms added to the existing hotel supply, of which over 50% were in the upper upscale/luxury space. Since growth in supply for room nights outpaced its demand, the city saw occupancy decline by 6% over the previous year. However, due to a change in the composition of supply because of the addition of hotels in the upper upscale/luxury space, marketwide average rates exhibited 7% increase in Indonesian Rupiah (IDR) terms. The occupancy and average rate dynamics translated into an increase of 1.7% in RevPAR (in IDR terms), however, the same was lower than the inflation rate (6% as per EIU) resulting in a net decline in operating profitability as estimated in the HVI. In light of the same, coupled with a depreciating IDR, hotel values saw an approximate 14% decline in USD terms and 3% in IDR terms.

Change In Value For Market:

Legend
Significant Value Increase: Greater than +10%
Moderate Value Increase: Between +3% and +10%
Stable Values: Between -3% and +3%
Moderate Value Decline: Between -3% and -10%
Significant Value Decline: Less than -10%

Jakarta RevPAR Change

Jakarta RevPAR

Year RevPAR
2013 97.02
2014 92.31
2015 83.38
2016 87.62
2017 (f) 88.65
2018 (f) 92.30

For more information, please contact:

Hok Yean CHEE
hychee@hvs.com
  • +65 6730-6308 (w)
  • +65 9686-6218 (m)
Ho Mei Leng
mlho@hvs.com
  • +65 6730-6300 (w)
  • +65 9620-2511 (m)