Double-digit revPAR declines hit Asia and Middle East – STR Global
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
The Asia Pacific and Middle East & Africa regions both significant declines in the hotel sector in May 2009, according to the latest figures released by STR Global. In terms of revenue per available room (revPAR), both regions saw double-digit year-on-year declines; Asia Pacific dropping 27.9% and Middle East & Africa falling by 17.0%.
The Asia Pacific region in May was hit by double-digit declines in both occupancy and average daily rate (ADR). Occupancy dropped 14.9% to 55.4%, while ADR fell 15.2% to US$118, dragging revPAR down to just US$65. The Middle East & Africa region fared slightly better, but region’s occupancy suffered an 11.5% decline to 63.1%, Compounded by a 6.1% fall in ADR; the region’s revPAR dropped to US$92.
STR Global’s Managing Director, James Chappell, said that occupancy levels in the Asia Pacific were of particular concern. “Occupancy levels dropped the most within the Asia Pacific region for the month of May
Comments are closed.