Hotels in the Asia Pacific region experienced increases in all three key performance metrics during February 2011 when reported in US dollars, according to data compiled by STR Global.
In year-on-year measurements, the Asia Pacific region’s occupancy rose 3.3 percent to 63.5 percent, average daily rate (ADR) increased 13.9 percent to US$147, and revenue per available room (revPAR) jumped 17.7 percent to US$93.
“The devastating natural disasters and the tragic losses of life and livelihoods currently dominate the region”, said Elizabeth Randall, Managing Director of STR Global. “In local currency, Australia’s hotels reported just a 0.1 percent revPAR increase for February and a 1.5 percent increase for the first two months 2011. New Zealand reported a 2.4 percent revPAR increase for the month and 0.8 percent year-to-date. Both countries saw drops in occupancy with slight average rate growth for the month and year-to-date. Japan, prior the tragic events in March, reported a 6.8 percent revPAR increase for February and a 4.8 percent increase for the first two months this year, driven by improvements in occupancy and average rate.”
Beijing experienced the largest occupancy increase, rising 13.8 percent to 45.8 percent, followed by Shanghai with an 11.3-percent increase to 40.0 percent. Seoul fell 4.9 percent in occupancy to 72.4 percent, reporting the largest decrease in that metric. Two markets experienced ADR increases of more than 20 percent, in US dollar terms. These were Jakarta (+23.1 percent to US$91) and Hong Kong (+23.0 percent to US$216). New Delhi was the only market to report an ADR decrease, falling 1.2 percent to US$219.
Three markets ended the month with revPAR increases of more than 30 percent: Jakarta (+33.6 percent to US$61), Shanghai (+31.4 percent to US$46), and Beijing (+30.8 percent to US$41). None of the region’s key markets reported revPAR decreases for the month.
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