In year-over-year measurements, the Asia/Pacific region’s occupancy rose 9.6 percent to 67.3 percent, average daily rate increased 11.9 percent to US$124.69, and revenue per available room jumped 22.7 percent to US$83.94.
Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for July 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 9.6 percent to 67.3 percent, average daily rate increased 11.9 percent to US$124.69, and revenue per available room jumped 22.7 percent to US$83.94.
“July was another good month for Asia/Pacific with an increase of more than 20 percent RevPAR, resulting from continued strong demand (+13 percent) with only moderate supply increases (+3 percent)”, said Elizabeth Randall, managing director of STR Global. “Whilst July was the first month this year with occupancy increases below 10 percent, which was influenced by the region’s reporting of lower drops in occupancy levels in July 2009, we would expect to see continuance of the current trend. The year-to-date RevPAR, though, is still below year-to-date 2008 results (US$82 compared to US$93).
“The World Expo sustained Shanghai’s performance and is expected to do so until the end of October”, Randall said. “Jakarta has since recovered from the terrorist attacks on the JW Marriott and Ritz-Carlton in July 2009”.
Highlights from key market performers for July 2010: (year-over-year comparisons, all currency in U.S. dollars)
• Shanghai, China, reported the largest increases in all three key performance metrics. The market’s occupancy rose 40.5 percent to 73.2 percent, ADR was up 31.3 percent to US$125.15, and RevPAR soared 84.5 percent to US$91.66. • Jakarta, Indonesia, followed Shanghai with a 22.2-percent occupancy increase to 77.3 percent. • Two markets reported an occupancy decreases: Bangkok, Thailand (-2.5 percent to 51.8 percent), and Phuket, Thailand (-2.5 percent to 52.5 percent). • Aside from Shanghai, three markets achieved ADR increases of more than 20 percent: Hong Kong, China (+26.4 percent to US$178.93); Kuala Lumpur, Malaysia (+26.3 percent to US$120.44); and Tokyo, Japan (+21.9 percent to US$255.91). • None of the key markets of the region reported ADR decreases for the month. • Three markets, excluding Shanghai, ended the month with RevPAR increases of more than 40 percent: Hong Kong (+46.3 percent to US$145.03); Jakarta (+44.8 percent to US$60.62); and Kuala Lumpur (+42.5 percent to US$100.98). • Bangkok reported the only RevPAR decrease, falling 1.8 percent to US$44.68.
|
Country |
Occupancy |
% change |
ADR |
% change |
RevPAR |
% change |
|
Australia |
75.1% |
+6.5% |
AUD163.25 |
+3.5% |
AUD122.55 |
+10.2% |
|
China |
63.4% |
+15.5% |
CNY713.01 |
+16.1% |
CNY451.74 |
+34.1% |
|
India |
56.2% |
+7.3% |
INR5809.02 |
-0.2% |
INR3265.05 |
+7.1% |
|
Japan |
73.9% |
+3.4% |
JPY13472.24 |
-3.1% |
JPY9951.91 |
+0.3% |
|
Singapore |
87.1% |
+12.5% |
SGD258.48 |
+17.4% |
SGD225.03 |
+32.0% |
*percentages are increases/decreases for July 2010 vs. July 2009
View Global hotel review for July 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 and HotelNewsNow.com. For more information, please visit www.strglobal.com.
