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STR Reports Global Hotel Statistics for October 2010

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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. dollars.

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. dollars)

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

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).

Four markets 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).

Europe

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 recovery."

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).

 Istanbul, Turkey, fell 15.5% to EUR172.01 in ADR, reporting the largest decrease in that metric.

 Geneva 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.

"The positive 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 markets."

 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).

 Abu 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% to US$132.25.

 Abu Dhabi experienced the largest RevPAR decrease, falling 43% to US$133.07.

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