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Hotel occupancy rate exceeds 70% with W Taipei, Le Meridien most expensive
Taiwan News, Staff Writer
2014-08-07 01:29 PM
Taiwan’s aggressive development of tourism to attract foreign tourists has borne fruit and helped boost average hotel guestroom pricing and average occupancy rate. According to Tourism Bureau statistics, the average hotel guestroom rate reached NT$3,669 in the first half of 2014, increasing NT$11 year-on-year. The average occupancy rate for this period was 70.01%, three percentage points better than the 67.11% posted in the same period last year.

In terms of the average occupancy rate among various hotels, Cosmos Hotel Taipei was first with an average occupancy rate of 94.62%, followed by Taipei Garden Hotel at 93.13%, Hotel Royal-Nikko Taipei at 90.20%, First Hotel at 89.56%, and Novotel Taipei Taoyuan International Airport at 89.54%.

In terms of average guestroom rates, the W Taipei’s average guestroom pricing for the top half of the year was NT$9,932, increasing NT$445 year-on-year, and first in average guestroom pricing. The W Taipei’s average occupancy rate of 82% translates into average guestroom earnings of NT$8,277 and the hotel with the best operational efficiency in Taipei. Average guestroom pricing at Le Meridien for the first half of the year was NT$9,736, increasing NT$47 year-on-year.

Even though average guestroom prices at W Taipei and Le Meridien were most expensive, Tourism Bureau analysis shows that business travelers account for 70% of occupancy and are a stable customer base due to their proximity to the Taipei World Trade Center. Further analysis of customer demographics show, U.S. travelers account for the largest number of guests at 23% followed by Taiwan, China, Hong Kong, and Singapore.

It is worth noting, due to renovation, the average occupancy rate of the Shangri-La’s Far Eastern Plaza Hotel Taipei operated by Shangri-La Hotels and Resorts fell significantly year-on-year. However, the hotel’s NT$7,532 average guestroom rate posted the highest increase at NT$773 year-on-year.

In addition, in terms of total revenue, the Regent Taipei was ranked first at NT$270 million for the first half of the year with Grand Hyatt Taipei and Sheraton Grande Taipei Hotel rounding out second and third, respectively. Since internationally renowned Mandarin Oriental Hotel has entered the market and Shangri-La’s Far Eastern Plaza Hotel Taipei and Grand Hyatt Taipei have completed renovations, operations at domestic hotels in the latter half of the year are expected surpass the first half. Average guestroom rates at hotels in the Xinyi District have an opportunity to top NT$10,000.

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