According to data compiled by STR Global, hotels
in the Asia Pacific region experienced increases in all three key
performance metrics for October 2010 when reported in U.S.
In year-on-year measurements, the Asia Pacific
region's OR rose 7% to 71.4%, ADR increased 16.4% to US$146.26,
and RevPAR jumped 24.5% to US$104.49.
"With 10 months gone this year, the Asia Pacific
region continues to recover strongly in October with double-digit
ADR and RevPAR growth," said Elizabeth Randall, managing director
of STR Global. "The high demand for hotels was fueled by the
region's strong economic recovery."
Highlights from key market performers for
October 2010: (year-on-year comparisons, all currency in U.S.
Shanghai, China, achieved the largest
occupancy increase, rising 30% to 74%, followed by Beijing, China,
with a 14.5% increase to 72.1%.
Three key markets experienced occupancy
decreases: Bangkok, Thailand (-14% to 54.4%); New Delhi, India
(-1.6% to 73.1%); and Sydney, Australia (-1% to 86.5%).
Three markets reported ADR increases of 20% or
more: Shanghai (+43.3% to US$159.73); Hong Kong, China (+33.9% to
US$253.35); and Seoul, South Korea (+20% to US$195.43).
Shanghai jumped 86.3% in RevPAR to US$118.13,
reporting the largest increase in that metric. Three other markets
experienced RevPAR increases of more than 30%: Hong Kong (+39.5%
to US$213.62); Jakarta, Indonesia (+33% to US$66.62); and Beijing
(+31.9% to US$74.81).
Bangkok was the only market to report a RevPAR
decrease, falling 8% to US$52.87.
The Americas region recorded positive results in
the three key performance metrics when reported in U.S. dollars
for October 2010.
The region's OR rose 6.7% to 61.3%, ADR went up 1.5% to US$102.38, and
RevPAR increased 8.2% to US$62.80.
Among the key markets,
Mexico City, Mexico, was the only market to experience a
double-digit occupancy increase, rising 15.1% to 68.1%.
Manitoba/Saskatchewan, Canada (-0.4% to 72.2%), and Rio de
Janeiro, Brazil (-0.4% to 73.7%), were the only two markets to
report occupancy decreases.
Vancouver, Canada, experienced
the largest ADR increase, rising 18.3% to US$143.37, followed by
Rio de Janeiro with a 14.1% increase to US$184.60. Three
key markets posted ADR decreases: Buenos Aires, Argentina (-7%
to US$145.56); San Juan, Puerto Rico (-4.6% to US$135.87); and San
Francisco, California (-1.5% to US$157.77).
achieved RevPAR increases of more than 15%: Vancouver (29.5% to
US$99.16); Mexico City (+23.3% to US$79.02); Toronto, Canada
(+17.2% to US$99.66); and Santiago, Chile (+16.1% to US$110.77).
The European hotel industry posted positive results in
year-on-year metrics when reported in U.S. dollars, euros and
British pounds for October 2010.
"Europe's recovery continued to stabilise in
October, reporting more than 10% RevPAR growth," said
Ms. Randall. "Recent
bail-outs for Ireland, the potential implications for other
Euro-zone countries, and the consequences for the wider economic
and hotel markets continue to highlight the risks to the RevPAR
Prague, Czech Republic, achieved the highest
occupancy increase, rising 20.2% to 78.5%. Barcelona, Spain
reported a 17.3% increase to 80.5%.
Cardiff, Wales, reported the largest occupancy decrease, falling
8.1% to 73.8%, followed by Geneva, Switzerland with a 7.2%
decrease to 63.6%.
Two markets posted ADR increases of more
than 30%: Dusseldorf, Germany (+42.6% to EUR140.67), and
Gothenburg, Sweden (+37.4% to EUR124.99).
fell 15.5% to EUR172.01 in ADR, reporting the largest decrease in
fell 14.9% in RevPAR to EUR134.99, reporting the largest decrease
among the key markets.
Middle East / Africa
The Middle East / Africa region reported
increases in all three key performance measurements for October
2010 when reported in U.S. dollars.
The region's OR ended the month with a 0.5% increase
to 67.2%, ADR rose 0.8% to US$162.54, and RevPAR went up 1.3% to US$109.20.
growth across the region has been driven through average rate
improvements in the Africa subregion and boosts in occupancy in
the Middle East and Northern Africa subregions," said Ms.
Randall. "The Middle East subregion saw average rates decline in October, resulting in a
RevPAR decline. The subregion finds it harder to convert the
improving demand into RevPAR growth as new supply still enters the
Amman, Jordan, achieved the largest occupancy
increase, rising 13.7% to 83.2%.
Beirut, Lebanon, fell 19.9%
in occupancy to 67.4%, reporting the largest decrease in that
metric, followed by Cape Town, South Africa, with a 16%
decrease to 58%.
Three markets experienced double-digit ADR
increases: Johannesburg, South Africa (+18.4% to US$110.05); Amman
(+12.4% to US$158.95); and Beirut (+11.1% to US$207.38).
Dhabi, United Arab Emirates, fell 42.4% in ADR to US$193.18,
reporting the only double-digit decrease in that metric.
Amman reported the only double-digit RevPAR increase, rising 27.8%
Abu Dhabi experienced the largest RevPAR
decrease, falling 43% to US$133.07.
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