LONDON—Hotels in the Asia/Pacific region experienced mostly positive results in the three key performance metrics during March 2011 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy fell 3.5 percent to 66.5 percent, average daily rate increased 13.8 percent to US$144.04, and revenue per available room jumped 9.9 percent to US$95.77.
In the first quarter of 2011, the Asia/Pacific region was virtually flat in occupancy, reporting a 0.2-percent decrease to 64.0 percent. ADR was up 13.1 percent to US$143.81, and RevPAR increased 12.8 percent to US$92.03.
“This month we saw the impact of the earthquake, tsunami and its aftermaths on the Japanese hotel market,” said Elizabeth Randall, managing director of STR Global. “Across Japan, occupancy declined 21 percent for the month in addition to a slight drop in average rate. Cities in the southern parts of Japan performed better than cities closer to the affected north-eastern area as people moved farther away from the threat of radiation exposure. Tokyo’s occupancy moved from 83 percent in March 2010 to 55 percent this year, and its average room rate (-4 percent) dropped slightly more than the national average (-0.1 percent) to JPY14,181. Osaka’s occupancy, in comparison, dropped only slightly by 2.8 percent to 81 percent, and its average rate increased 10 percent to JPY12,083. In the city of Sendai, where we usually track the performance of nine hotels, three properties closed and the March performance of six reporting hotels showed a decline of 23 percent in RevPAR.
“Asia/Pacific overall finished the first quarter 2011 with a level occupancy performance and increases in average room rate to gain 13 percent in RevPAR,” Randall continued. “As we saw a strong demand recovery in 2010, we expect to see occupancy performance level out and average room rates grow. Asia/Pacific achieved the highest occupancy (64 percent) of the four world regions in the first quarter”.
Highlights from key market performers for March 2011 in local currency (year-over-year comparisons):
• Bangkok, Thailand, increased 10.0 percent in occupancy to 67.8 percent, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 6.0-percent increase to 71.9 percent.
• Five markets experienced double-digit ADR increases: Hong Kong, China (+28.2 percent to HKD2062.02); Jakarta (+14.5 percent to IDR809282.30); Bali (+12.8 percent to IDR1092414.91); Beijing, China (+10.3 percent to CNY698.32); and Seoul, South Korea (+10.0 percent to KRW193755.16).
• Hong Kong jumped 33.2 percent in RevPAR to HKD1790.77, followed by Jakarta with a 21.4-percent increase to IDR582069.77).
Performances of key countries in March 2011 (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Australia
|
76.1%
|
+1.2%
|
AUD178.72
|
+5.8%
|
AUD135.97
|
+7.1%
|
|
China
|
62.3%
|
-1.1%
|
CNY812.53
|
+8.7%
|
CNY506.08
|
+7.5%
|
|
India
|
65.5%
|
+0.4%
|
INR7023.96
|
+1.4%
|
INR4603.61
|
+1.9%
|
|
Singapore
|
84.5%
|
-1.3%
|
SGD296.95
|
+16.3%
|
SGD250.79
|
+14.9%
|
*percentages are increases/decreases for March 2011 vs. March 2010
Highlights from key market performers for March 2011 (year-over-year comparisons, all currencies in U.S. dollars):
• Hong Kong achieved the largest ADR increase, rising 27.8 percent to US$264.74.
• New Delhi, India, ended the week virtually flat with a 0.8-percent ADR decrease to US$199.10, reporting the only decrease in that metric.
• Four markets experienced RevPAR increases of more than 20 percent: Hong Kong (+32.8 percent to US$229.92); Brisbane, Australia (+27.8 percent to US$167.49); Jakarta (+26.2 percent to US$66.53); and Sydney (+25.0 percent to US$177.48).
View Global Hotel Review for March.
Media contacts
Konstanze Auernheimer
Director of Marketing & Analysis
STR Global
KAuernheimer@strglobal.com
+44 (0)207 922 1961
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
