Rising room rates helped boost hotels in the Asia Pacific region in June 2011. According to the latest data from STR Global, average daily rates (ADR) increased 13.3% year-on-year to US$134, while occupancy saw a slight 0.6% rise to 65.2%. This caused revenue per available room (revPAR) to expand 13.9% to US$87.
“Asia Pacific will be an interesting region to watch during the coming months”, said Elizabeth Randall, Managing Director of STR Global. “Only two out of the six months so far this year reported occupancy increases against the corresponding month in 2010. Whilst the demand across the region continued to grow (2%for the first half of the year), the new supply entering the region (3% for the same timeframe) kept the occupancy levels under pressure. Added to that is the reduced demand due to the earthquake and tsunami in Japan and key events like the World Expo in Shanghai last year.”
In terms of occupancy Bangkok jumped 78.0% to 62.8%, reporting the largest increase in that metric. Phuket was the only other market to report a double-digit occupancy increase, rising 38.7% to 54.6%. These results marked a rebound from a poor June 2010 when Thailand was recovering from months of political protests. Shanghai, suffering from a World Expo hangover, reported the largest occupancy decline, falling 27.6% to 58.5%.
Five markets achieved ADR increases in excess of 20%: Brisbane (+30.8% to US$194), Melbourne (+30.8% to US$184), Sydney (+27.5% to US$181), Hong Kong (+24.6% to US$219), and Seoul (+23.7% to US$180).
In terms of revPAR, Bangkok jumped 108.3% to US$58, reporting the largest increase in that metric. Three other markets posted revPAR growth of more than 30%: Phuket (+55.0% to US$50), Melbourne (+39.8% to US$134), and Brisbane (+35.2% to US$164).
Comments are closed.