LONDON—Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for October 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 7.0 percent to 71.4 percent, average daily rate increased 16.4 percent to US$146.26, and revenue per available room jumped 24.5 percent to US$104.49.
“With 10 months gone this year, the Asia/Pacific region continues to recover strongly in October with double-digit ADR and RevPAR growth”, said Elizabeth Randall, managing director of STR Global. “The high demand for hotels was fueled by the region's strong economic recovery”.
Highlights from key market performers for October 2010: (year-over-year comparisons, all currency in U.S. dollars)
• Shanghai, China, achieved the largest occupancy increase, rising 30.0 percent to 74.0 percent, followed by Beijing, China, with a 14.5-percent increase to 72.1 percent.
• Three key markets experienced occupancy decreases: Bangkok, Thailand (-14.0 percent to 54.4 percent); New Delhi, India (-1.6 percent to 73.1 percent); and Sydney, Australia (-1.0 percent to 86.5 percent).
• Three markets reported ADR increases of 20 percent or more: Shanghai (+43.3 percent to US$159.73); Hong Kong, China (+33.9 percent to US$253.35); and Seoul, South Korea (+20.0 percent to US$195.43).
• Shanghai jumped 86.3 percent in RevPAR to US$118.13, reporting the largest increase in that metric. Three other markets experienced RevPAR increases of more than 30 percent: Hong Kong (+39.5 percent to US$213.62); Jakarta, Indonesia (+33.0 percent to US$66.62); and Beijing (+31.9 percent to US$74.81).
• Bangkok was the only market to report a RevPAR decrease, falling 8.0 percent to US$52.87.
Performances of key countries in October 2010 (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Australia
|
79.4%
|
+1.6%
|
AUD176.12
|
+4.5%
|
AUD139.84
|
+6.1%
|
|
China
|
68.2%
|
+13.1%
|
CNY894.10
|
+18.8%
|
CNY609.57
|
+34.3%
|
|
India
|
63.9%
|
+6.0%
|
INR7075.84
|
+3.9%
|
INR4523.29
|
+10.1%
|
|
Japan
|
78.5%
|
+3.7%
|
JPY13048.32
|
+0.1%
|
JPY10245.40
|
+3.8%
|
|
Singapore
|
84.4%
|
+4.4%
|
SGD277.30
|
+20.3%
|
SGD233.94
|
+25.6%
|
*percentages are increases/decreases for October 2010 vs. October 2009
View Global Hotel Review for October 2010.
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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