Crumbs of comfort for Asian hotel sector - STR Global
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
The latest data for select Asian cities, providedexclusively to TDA by STR Global, the world’s leading hotel benchmarkingcompany, has shown some small signs of recovery for the region’s hotelindustry. Five out of the seven cities showed a slower rate of decline in termsof revenue per available room (revPAR), compared to the average drops seen inthe first six months of 2009.
Beijing in particular saw a marked improvement in June 2009, with revPARdeclining just 34.5% year-on-year, compared to a 44.2% year-to-date drop.However this may be due to the tightening of security and visa regulationsprior to the Olympics, which began in June 2008. Sydney meanwhile saw its year-on-year revPARdecline slow to just 22.4% last month, compared to a 33.9% first half decline.The result was boosted by improving occupancy levels, which dropped just 1.3%year-on-year.
Bangkok, Dubai and Singapore also saw monthly revPAR declineseasing, which Hong Kong and Tokyoexperienced slightly increased downturns.
June 2009 vs. June 2008 (US$)
Market
Occupancy (%)
Occupancy change
ADR
ADR change
RevPAR
RevPAR change
Bangkok
46.3
-31.6%
90
-14.1%
42
-41.3%
Beijing
49.1
-13.4%
94
-24.4%
46
-34.5%
Dubai
64.6
-14.8%
166
-22.4%
107
-33.9%
Hong Kong
59.7
-24.8%
149
-15.2%
89
-36.2%
Singapore
72.9
-5.3%
158
-31.0%
115
-34.7%
Sydney
70.3
-1.3%
130
-21.4%
92
-22.4%
Tokyo
65.2
-9.8%
211
7.4%
137
-3.1%
Year-to-date June 2009 vs. June 2008
Market
Occupancy (%)
Occupancy change
ADR
ADR change
RevPAR
RevPAR change
Bangkok
49.7
-30.4%
94
-17.1%
47
-42.3%
Beijing
45.3
-26.5%
96
-24.1%
43
-44.2%
Dubai
69.9
-15.5%
253
-24.1%
177
-35.9%
Hong Kong
68.9
-15.1%
163
-14.9%
112
-27.7%
Singapore
67.4
-14.5%
167
-26.3%
113
-37.0%
Sydney
75.5
-5.6%
122
-30.0%
92
-33.9%
Tokyo
67.1
-11.2%
220
10.1%
148
-2.3%
Comments are closed.