Asia hotel performance eases in July - STR Global
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The performance of hotels in key Asia cities continued to experience double-digit declines in July, but there signs that the slump is easing. In data provided exclusively to TDA, STR Global’s monthly report showed revenue per available room (revPAR) six of the seven studied cities declining at a slower rate the combined year-to-date figures. In Dubai for example, revPAR dropped just 24.1% in July, compared to a 35.1% decline for the first seven months of the year. In Beijing the decline slowed to 21.9% (-40.9% year-to-date), with the trend continuing in Bangkok, Singapore and Sydney. In Tokyo, revPAR grew 8.5% in July, compared to a 1.1% year-to-date decline. Healthier occupancy levels was the main factor behind the recovery - seven of the eight cities studied saw occupancy levels in July exceeding the seven-month average.
July 2009 vs. July 2008 (US$)
Market
Occupancy
Change (%)
ADR
Change (%)
RevPAR
Change (%)
Bangkok
52.7%
-25.6
87
-13.9
46
-35.9
Beijing
54.3%
12.4
88
-30.5
48
-21.9
Dubai
65.1%
-9.2
164
-16.4
107
-24.1
Hong Kong
69.5%
-15.3
139
-16.6
97
-29.3
Singapore
77.2%
-3.7
157
-27.6
121
-30.3
Sydney
75.9%
-6.1
130
-25.5
99
-30.0
Tokyo
71.6%
-5.2
216
14.5
155
8.5
YTD July 2009 vs. YTD July 2008 (US$)
Market
Occupancy
Change (%)
ADR
Change (%)
RevPAR
Change (%)
Bangkok
50.1%
-29.8
93
-16.7
47
-41.5
Beijing
46.6%
-21.2
94
-25.1
44
-40.9
Dubai
68.9%
-14.6
239
-24.0
165
-35.1
Hong Kong
69.0%
-15.1
160
-15.2
110
-28.0
Singapore
68.8%
-12.9
166
-26.5
114
-36.0
Sydney
75.5%
-5.6
123
-29.4
93
-33.4
Tokyo
67.7%
-10.4
219
10.5
148
-1.1
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