Hotels in the Asia Pacific region ended 2010 with a 21.3% full-year increase in revenu eper available room, compared with 2009. According to the full-year results released by STR Global, the region experienced significant gains in terms of both occupancy and average daily rates (ADR) performance metrics last year when reported in US dollars.
In year-over-year measurements, the Asia Pacific region’s occupancy rose 8.9 percent to 66.0 percent and ADR increased 11.4 percent to US$133, allowing revPAR to jump 21.3 percent to US$88.
“Asia Pacific was the star performer during 2010. It was the only region to report double-digit RevPAR growth at year-end”, said Elizabeth Randall, Managing Director of STR Global. “Demand came back strongly across the region due to better economic conditions and events such as the World Expo in Shanghai. Absolute revPAR now lags 2008 peaks by only US$1.60.”
Highlights from key market performers for year-end 2010:
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