Hotels in Asia Report Double-Digit Decreases in January 2009

Hotels in the Asia Pacific region reported double-digit decreases when reported in US dollars for all three key performance metrics for January 2009, according to data compiled by STR Global.

Occupancy in the Asia Pacific region dropped 18.3% to 54.3%; ADR declined 12.2% to US$125.31; and RevPAR fell 28.3% to US$68.09.

Highlights from key individual markets in the Asia Pacific region include (percentages are January 2009 vs. January 2008, data in US dollars):

• Three key markets posted increases in ADR and RevPAR: Tokyo rose 25.9% to US$238.91 in ADR and 12.4% to US$144.19 in RevPAR; Bali rose 28% to US$142.65 in ADR and 17.5% to US$105.87 in RevPAR; and Osaka, Japan, reported a 16.4% increase in ADR and an 11.6% rise in RevPAR.

• Seoul, South Korea, reported an increase in occupancy, rising 5.2% to 73.6%.

• Four markets reported decreases in occupancy of less than 5%. Those markets include: Brisbane, Australia (-3.9%); Osaka, Japan (-4.1%); Sydney, Australia (-4.2%); and Melbourne, Australia (-4.3%).

• Three markets posted large decreases in ADR for the month: Seoul (-33.4%); New Dehli, India (-34.2%); and Mumbai, India (-37.7%).

Performances of Key Countries in January 2009 (all monetary units in local currency. Source STR Global):

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