Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for November 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 2.8 percent to 70.0 percent, average daily rate increased 12.0 percent to US$142.47, and revenue per available room jumped 15.2 percent to US$99.70…
Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for November 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 2.8 percent to 70.0 percent, average daily rate increased 12.0 percent to US$142.47, and revenue per available room jumped 15.2 percent to US$99.70.
“Throughout 2010, Asia/Pacific has been leading the RevPAR recovery globally”, said Elizabeth Randall, managing director of STR Global. “It was the powerhouse bouncing back strongly from the downturn last year. RevPAR across the region has grown for 13 months since November 2009. As we saw the first positive RevPAR growth in November 2009, the monthly RevPAR growth this month is the lowest growth rate so far this year (15.2 percent). The year-to-date occupancy topped the year-to-November 2008 occupancy by 0.9 percentage points and average room rates are still US$7.62 behind the year-do-date results in 2008”.
“Looking at key cities across Asia/Pacific, Bangkok is the only one reporting year-to-date RevPAR declines still suffering from the political unrest in April/May”, Randall said. “The World Expo 2010 brought the highest year-on-year RevPAR growth to Shanghai”.
Highlights from key market performers for November 2010: (year-over-year comparisons, all currencies in U.S. dollars)
- Jakarta, Indonesia, reported the only double-digit occupancy increase, rising 14.0 percent to 78.0 percent.
- Mumbai, India, fell 9.7 percent in occupancy to 64.7 percent, experiencing the largest decrease in that metric.
- Four markets achieved ADR increases of more than 20 percent: Hong Kong, China (+27.1 percent to US$239.39); Brisbane, Australia (+26.3 percent to US$196.75); Shanghai, China (+20.4 percent to US$135.46); and Seoul, South Korea (+20.2 percent to US$190.96).
- Three markets reported RevPAR increases of more than 30 percent: Hong Kong (+36.7 percent to US$213.39); Brisbane (+36.4 percent to US$173.32); and Jakarta (+34.4 percent to US$66.31).
- New Delhi, India, RevPAR fell 5.6 percent to US$166.60, reporting the largest decrease in that metric, followed by Mumbai with a 4.9-percent decrease to US$129.49.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
