Hotels in the Asia/Pacific region experienced mixed results in the three key performance metrics for January when reported in U.S. dollars, according to data compiled by STR Global.
LONDON—Hotels in the Asia/Pacific region experienced mixed results in the three key performance metrics for January 2012 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy reported a 3.4-percent decrease to 60.0 percent, its average daily rate increased 9.8 percent to US$152.92 and its revenue per available room was up 6.0 percent to US$91.81.
“The region saw a slightly weaker start in the new year, with a small decline in demand (-0.8 percent) reflected in a drop in occupancy (-3.4 percent)”, said Elizabeth Randall, managing director of STR Global. “Average rate growth helped to boost RevPAR in the region. The Maldives, which have been in the news lately, continue to show double-digit demand growth (+11.6 percent) and increases in occupancy and average room rates. Additionally to the perceived stability of the country, currency exchange rates play a key role in the island nation, with average room rates increasing 37.4 percent in local currency but only 15.6 percent in British pounds, the currency of its main source market”.
Highlights from key market performers in January 2012 in local currency (year-over-year comparisons):
• Kuala Lumpur, Malaysia (+10.0 percent to 69.9 percent), and Osaka, Japan (+10.0 percent to 74.7 percent), reported the only double-digit occupancy increases.
• Hong Kong rose 19.2 percent in ADR to HKD1,996.39, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 16.3-percent increase to IDR882,093.23.
• Three markets experienced RevPAR increases of more than 15 percent: Osaka (+18.9 percent to IDR7,832.13); Bali, Indonesia (+16.4 percent to IDR1,169,424.37); and Hong Kong (+15.9 percent to HKD1,591.90).
• New Delhi, India, fell 8.5 percent in RevPAR to INR5,148.10, reporting the largest decrease in that metric.
Performances of key countries in January 2012 (all monetary units in local currency):
*percentages are increases/decreases for 2012 vs. 2011
Highlights from key market performers for January 2012 in U.S. dollars (year-over-year comparisons):
• Hong Kong achieved the largest ADR increase, rising 19.7 percent to US$257.37, followed by Jakarta (+17.9 percent to US$97.82) and Osaka (+15.8 percent to US$136.89).
• New Delhi decreased 15.8 percent in ADR to US$158.25.
• Four markets experienced RevPAR increases of more than 15 percent: Osaka (+27.5 percent to US$102.24); Bali (+18.0 percent to US$129.69); Hong Kong (+16.4 percent to US$205.22); and Jakarta (+16.3 percent to US$60.34).
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