2011 good news in RevPAR stakes
Hotels in the Asia/Pacific region experienced positive results in the three key performance metrics in 2011 when reported in US dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy ended the year virtually flat with a 0.2% increase to 66.8%, its average daily rate increased 9.5% to US$140.44 and its revenue per available room was up 9.8% to US$93.84.
“Despite the impact of natural disasters, Asia/Pacific reported the highest RevPAR (US$94) and highest average room rate (US$140) in 2011 for the last seven years,” said Elizabeth Randall, managing director of STR Global. “Occupancy levels were on par with last year and lower than 2007 levels reflecting the increasing room stock across the region. Room supply grew by 3.3% compound annual growth rate between 2005 and 2010, supply growth fell below the 3% mark in 2011. We are expecting to see performance rebounds in 2012 depending on the avoidance of a wider cooling of the world economy. Our latest Market Forecast, released in November, predicts the performance of Beijing, Hong Kong, Singapore and Sydney. For all four cities we currently expect RevPAR in local currency to increase between 2.8% (Sydney) and 9% (Singapore).”
Highlights from key market performers for 2011 in U.S. dollars (year-over-year comparisons):
• Hong Kong experienced the largest ADR increase, rising 22.8% to US$245.30, followed by Brisbane with a 20.8% increase to US$190.91.
• New Delhi (-7.6% to US$174.21) and Mumbai, India (-4.9% to US$177.32), ended the year with the largest ADR decreases.
• Five markets achieved RevPAR increases of more than 20%: Hong Kong (+25.8 % to US$205.71); Jakarta (+23.5% to US$64.56); Bangkok (+23.0% to US$61.28); Brisbane (+21.2% to US$153.40); and Beijing (+20.1% to US$68.87).
In December 2011, the Asia/Pacific region reported a 1.2% increase in occupancy to 65.1%, it rose 3.4 % in ADR to US$145.96, and it was up 4.6% in RevPAR to US$95.07.
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