Asian hotel recovery in full-swing
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STR Global has released its December 2009 hotel performance results for key Asian cities, with evidence that the industry’s recovery is now in full-swing. According to the data - provided exclusively to TDA - revenue per available room (revPAR) for December outperformed the full-year average in six out of the seven studied markets. Only a wintery Beijing saw revPAR drop slightly last month compared to the full-year average, but the Chinese capital’s December 2009 result was still 13.9% higher than the corresponding month in 2008. Likewise occupancy levels were higher in December in the same six markets, while average daily rate (ADR) closed 2009 at higher levels than the combined 12 month average in five of the seven markets. For the full-year 2009 however, only Tokyo saw a year-on-year rise in revPAR, climbing 3.2%. All of the other markets experienced double-digit declines, indicative of the tough operating conditions of the past 12 months.
December 2009 vs. December 2008 (US$)
Market
Occupancy
% Change
ADR
% Change
RevPAR
% Change
Bangkok
62.4%
64.3
101
-1.3
63
62.1
Beijing
49.9%
23.1
89
-7.5
45
13.9
Dubai
71.9%
11.9
244
-24.6
176
-15.6
Hong Kong
85.6%
2.4
185
4.8
158
7.3
Singapore
76.8%
12.6
164
-11.9
126
-0.8
Sydney
80.5%
10.0
168
24.7
135
37.1
Tokyo
72.6%
3.0
262
5.8
190
9.0
YTD December 2009 vs. YTD December 2008
Market
Occupancy
% Change
ADR
% Change
RevPAR
% Change
Bangkok
54.4%
-16.4
93
-14.0
51
-28.0
Beijing
51.6%
-7.7
93
-37.8
48
-42.6
Dubai
69.4%
-10.2
235
-23.7
163
-31.4
Hong Kong
73.5%
-9.4
168
-11.4
123
-19.8
Singapore
73.0%
-5.3
167
-23.3
122
-27.4
Sydney
78.5%
-0.2
137
-13.9
107
-14.1
Tokyo
70.6%
-6.5
229
10.4
162
3.2
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