LONDON—Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for August 2010 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy rose 5.8 percent to 67.2 percent, average daily rate increased 10.0 percent to US$129.00, and revenue per available room jumped 16.5 percent to US$86.74.
“The double-digit RevPAR growth across all sub-regions in Asia/Pacific continued in August, underlining the market’s leading position in RevPAR recovery”, said Elizabeth Randall, managing director of STR Global. “The continued strength in economic growth coupled with world events in selected destinations (i.e. the first-ever Youth Olympics in Singapore) brought even more attention to the region in August.
“Where last year pictures of ship upon ship sitting idle in Singapore harbour made the news, this year Singapore presented with Marina Bay Sands new attractions and hotels to the market and with the economy picking up, Singapore saw double-digit monthly improvements in demand this year resulting in occupancy levels of around and over 80% this year”, said Randall. “Not to mention that this demand fuelled improvements in average daily rate”.
Highlights from key market performers for August 2010: (year-over-year comparisons, all currency in U.S. dollars)
• Shanghai, China, reported the largest occupancy increase, rising 40.2 percent to 69.5 percent, followed by Beijing, China, with a 14.4 percent increase to 66.6 percent.
• Four markets reported occupancy decreases: Kuala Lumpur, Malaysia (-9.8 percent to 64.4 percent); Bangkok, Thailand (-8.7-percent to 51.4 percent); Osaka, Japan (-4.2 percent to 79.2 percent); and Phuket, Thailand (-3.3 percent to 56.4 percent).
• Hong Kong, China, achieved the largest ADR increase, rising 31.4 percent to US$180.75, followed by Shanghai (+30.0 percent to US$123.96) and Bali, Indonesia (+17.5 percent to US$169.92).
• Shanghai jumped 82.4 percent in RevPAR to US$86.21, reporting the largest increase in that metric. Four other markets posted RevPAR increases of more than 20 percent: Hong Kong (+34.8 percent to US$145.92); Brisbane, Australia (+23.1 percent to US$134.98); Beijing (+22.1 percent to US$58.78); and Manila, Philippines (+20.4 percent to US$74.51).
• Bangkok reported the largest RevPAR decrease, falling 5.4 percent to US$45.23, followed by Phuket (-1.9 percent to US$45.63) and Osaka (-0.9 percent to US$103.17).
Performances of key countries in August 2010 (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Australia
|
75.3%
|
+5.0%
|
AUD163.28
|
+1.6%
|
AUD123.02
|
+6.7%
|
|
China
|
64.0%
|
+11.7%
|
CNY731.94
|
+14.0%
|
CNY468.23
|
+27.4%
|
|
India
|
56.5%
|
+5.0%
|
INR5762.72
|
+0.4%
|
INR3253.82
|
+5.4%
|
|
Japan
|
79.1%
|
+1.3%
|
JPY14927.72
|
-2.6%
|
JPY11804.58
|
-1.3%
|
|
Singapore
|
83.5%
|
+9.6%
|
SGD267.16
|
+22.7%
|
SGD223.18
|
+34.5%
|
*percentages are increases/decreases for August 2010 vs. August 2009
View Global hotel review for August.
About STR Global:
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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