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STR Reports Global Hotel Statistics for July 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 July 2010 when reported in U.S. dollars.

In year-on-year measurements, the region's OR rose 9.6% to 67.3%, ADR increased 11.9% to US$124.69, and RevPAR jumped 22.7% to US$83.94.

"July was another good month for Asia Pacific with an increase of more than 20% in RevPAR, resulting from continued strong demand (+13%) with only moderate supply increases (+3%)," said Elizabeth Randall, managing director of STR Global. "Whilst July was the first month this year with occupancy increases below 10%, which was influenced by the region's reporting of lower drops in occupancy levels in July 2009, we would expect to see continuance of the current trend. The year-to-date RevPAR, though, is still below year-to-date 2008 results (US$82 compared to US$93)."

Highlights from key market performers for July 2010: (year-on-year comparisons, all currency in U.S. dollars)

- Shanghai, China, reported the largest increases in all three key performance metrics. The market's OR rose 40.5% to 73.2%, ADR was up 31.3% to US$125.15, and RevPAR soared 84.5% to US$91.66.
- Jakarta, Indonesia, followed Shanghai with a 22.2% OR increase to 77.3%.
- Two markets reported occupancy decreases: Bangkok, Thailand (-2.5% to 51.8%), and Phuket, Thailand (-2.5% to 52.5%).
- Aside from Shanghai, three markets achieved ADR increases of more than 20%. Hong Kong, China (+26.4% to US$178.93); Kuala Lumpur, Malaysia (+26.3% to US$120.44); and Tokyo, Japan (+21.9% to US$255.91).
- None of the key markets of the region reported ADR decreases for the month.
- Three markets, excluding Shanghai, ended the month with RevPAR increases of more than 40%: Hong Kong (+46.3% to US$145.03); Jakarta (+44.8% to US$60.62); and Kuala Lumpur (+42.5% to US$100.98).
- Bangkok reported the only RevPAR decrease, falling 1.8% to US$44.68.

Americas

The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for July 2010. The region's OR rose 6.9% to 67.9%, ADR went up 1.7% to US$100.93, and RevPAR increased 8.8% to US$68.53.

Among the key markets in the region, Buenos Aries, Argentina, reported the largest OR increase, jumping 87.3% to 62.5%, followed by Santiago, Chile, with a 28.5% increase to 65.6%. Manitoba/Saskatchewan, Canada, ended the week virtually flat with a 0.2% decrease to 71.2%, and was the only occupancy decrease.

Three markets experienced ADR increases of more than 15%, Rio de Janeiro, Brazil (+20% to US$155.18); Sao Paulo, Brazil (+17.6% to US$104.74); and Buenos Aires (+15.8% to US$134.48). San Juan, Puerto Rico, posted the only ADR decrease, falling 3.7% to US$144.

Buenos Aires led the RevPAR increases, rising 116.9% to US$83.99, followed by Santiago (+38.3% to US$86.37) and Toronto, Canada (+28.2% to US$89.53). San Juan fell 1.5% in RevPAR to US$113.65, reporting the only decrease in that metric.

Europe

The European hotel industry posted mixed results in year-on-year metrics when reported in U.S. dollars, euros and British pounds for July 2010.

"Europe continued to report solid results with growth in all performance indicators," said Elizabeth Randall. "Only Southern Europe's ADR remains sluggish. After reporting growth in June, ADR was just down 0.7% compared to July 2009. Out of the global regions, Europe achieved the highest occupancy with 71% for the month, resulting out of good performances in Northern and Western Europe. We have now seen eight months of occupancy improvements (since December 2009) and five months of ADR picking up (since 10 March)."

Highlights from key market performers for July include (year-over-year comparisons, all currency in euros):

- Three key markets experienced occupancy increases of more than 20%, Istanbul, Turkey (+27.6% to 84.3%); Helsinki, Finland (+21.9% to 66%); and Cologne, Germany (+20.2% to 61%).
- Oslo, Norway, posted the largest occupancy decrease, falling 8.3% to 52.6%, followed by Malmo, Sweden, with a 7.2% decrease to 72%.
- Stockholm, Sweden, rose 23.6% in ADR to EUR89.77, reporting the largest increase in that metric. Three other markets also reported ADR increases of more than 20%: Gothenburg, Sweden (+23.4% to EUR95.36); Munich, Germany (+22.9% to EUR106.46); and London, England (+22.8% to EUR172.80).
- Dublin, Ireland, reported the largest ADR decrease, falling 13.4% to EUR77.15, followed by Budapest, Hungary, with an 11.5% decrease to EUR64.57.
- Five markets achieved RevPAR increases of more than 30%: Istanbul (+42.6% to EUR130.06); Vienna, Austria (+38.7% to EUR82.18); Munich (+37.3% to EUR90.30); Dusseldorf, Germany (+33.6% to EUR54.12); and Cologne (+33% to EUR46.56).
- Athens fell 14.5% in RevPAR to EUR60.23, reporting the largest decrease in that metric.

 Middle East / Africa

The Middle East / Africa region reported favourable results in the three key performance measurements for July 2010 when reported in U.S. dollars. The region's occupancy ended the month virtually flat with a 0.1% increase to 61.3%, ADR increased 11.8% to US$145, and RevPAR grew 11.8% to US$88.82.

"The good news for the Middle East is that demand showed continued growth against last year, and the sub region still recorded one of the highest ADRs (US$162) only beaten by the strong ADR in Southern Africa (US$175) due to the FIFA World Cup, which ended mid-July," said Ms. Randall. "However, the Middle East was the only sub region reporting RevPAR declines in July. It will be interesting to see if the slowing decline will continue during the coming months. Northern and Southern Africa continued on their RevPAR recovery path, and the smooth running of a joyful World Cup will bring additional interest to the region."

Highlights among the region's key markets for July include (year-over-year comparisons, all currency in U.S. dollars):

- Amman, Jordan, achieved the largest and only double-digit occupancy increase, rising 14% to 68.3%.
- Abu Dhabi, United Arab Emirates, reported the largest occupancy decrease, falling 23% to 51.6%. The market also reported the largest decreases in ADR (-28.1% to US$141.54) and RevPAR (-44.7% to US$73.10).
- Cape Town, South Africa, rose 99.4% in ADR to US$220.76, followed by Johannesburg, South Africa, with a 63.5% ncrease to US$151.20.
- Two markets reported RevPAR increases of more than 70%: Cape Town (+80.4% to US$103.32) and Johannesburg (+70.8% to US$98.26).
- Dubai, UAE, was the only market, excluding Abu Dhabi, to report a RevPAR decrease, falling 1.3% to US$105.53. Riyadh ended the month virtually flat with a 0.3% decrease to US$113.67.

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