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JAKARTA, KOMPAS.com – Hospitality industry is the sector most affected Pandemic Covid-19. Business travel and events have been suspended.
Even though the Covid-19 Pandemic has been going on for eight months, there is performance hospitality industry in the Asia Pacific Region, it was still experiencing a slowdown in the second quarter of 2020.
In its latest report, Colliers International mentions, as a whole hotel occupancy decreased by 33.9 percent, while the daily average rate or average daily rate (ADR) around IDR 890,000.
Colliers noted that the occupancy of most hotels in the Asia Pacific, except for China, Myanmar, the Philippines, Singapore and South Korea, experienced a decline of 40 percent.
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Apart from experiencing a decrease in occupancy, income per available room or revenue per available room (RevPAR) hotels in this area also fell by 69.9 percent year on year.
Looking forward, the global economic outlook is expected to remain weak in the near term given the ongoing uncertainty and risk of a new wave of Covid-19.
Therefore, the prospects for the hotel industry in Asia Pacific are expected to dim in the near future.
However, Executive Director and Head of Hotels & Leisure for Valuation & Advisory Services, Asia, Govinda Singh believes the industry will return especially when activities and travel recover.
Head of Research Colliers International Indonesia Ferry Salanto said, this condition has made hotel management in general minimize operational costs.
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The method taken is by reducing the number of employees, using their property selectively, and temporarily closing their operations.
Ferry said, hotels in Jakarta and Surabaya are likely to take longer to recover.
This is because, the continuity of the hotel business in the two big cities in Indonesia needs to be encouraged by more business activities.
Not only Jakarta and Surabaya, the performance of hotels in Bali is also considered to take a long time to recover.
“Bali is likely to rely on local tourists to encourage the hospitality industry in the current sluggish market situation,” Ferry said in the report quoted. Kompas.com, Friday (21/8/2020).
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