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STR Reports Global Hotel Performance for October 2011

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According to data compiled by STR Global, hotels in the Asia Pacific region experienced mostly positive results in the three key performance metrics during October 2011 when reported in U.S. dollars.

In year-on-year measurements, the Asia Pacific region's occupancy fell 2% to 70%, its ADR increased 8.4% to US$150.60, and its RevPAR was up 6.2% to US$105.41.

"October was another fantastic month for New Zealand as it continued to host the Rugby World Cup, resulting in a 110.5% increase in RevPAR (in local currency)," said Elizabeth Randall, managing director of STR Global. "Despite the floods affecting parts of Thailand, the country reported a 10.9% RevPAR increase for the month showing its resilience. Hong Kong is top of the city league table with 20.2% RevPAR increase for the month, benefiting from its position as a strategic gateway into China and as an international financial and business centre."

Highlights from key market performers for October 2011 in local currency (year-on-year comparisons):

- Phuket, Thailand, reported the largest occupancy increase, rising 8.9% to 70.2%, followed by Bangkok, Thailand, with a 6.4% increase to 57.7%.

- Two markets posted double-digit occupancy decreases: Shanghai, China (-14.9% to 63.3%), and New Delhi, India (-13.9% to 63.2%).

- Three markets achieved ADR increases of more than 15%: Hong Kong (+20% to HK$ 2,273.32); Bali, Indonesia (+18.3% to IDR 1,349,463.03); and Jakarta, Indonesia (+16.2% to IDR 836,885.65).

- Shanghai (-15.3% to CNY 834.24) and New Delhi (-10.8% to INR9,122.99) reported the largest ADR decreases for the month.

- Hong Kong jumped 20.2% in RevPAR to HK$ 1,944.77, reporting the largest increase in that metric, followed by Jakarta with an 18.3% increase to IDR 662,763.39.

- Two markets posted RevPAR decreases of more than 20%: Shanghai (-27.8% to CNY 528.49) and New Delhi (-23.2% to INR 5,767.42).

Highlights from key market performers for October 2011 in U.S. dollars (year-on-year comparisons):

- Hong Kong ended the month with the largest ADR increase, rising 19.8% to US$292.74, followed by Bali with a 19.4% increase to US$153.03.

- New Delhi fell 18.4% in ADR to US$184.47, posting the largest decrease in that metric.

- Five markets experienced RevPAR increases of more than 15%: Brisbane, Australia (+20.2% to US$ 171.95); Hong Kong (+20% to US$ 250.43); Jakarta (+19.4% to US$ 75.16); Beijing (+18.2% to US$ 84.18); and Bali (+15.1% to US$ 119.26).

- New Delhi fell 29.7% in RevPAR to US$ 116.62, reporting the largest decrease in that metric, followed by Shanghai (-24.5% to US$ 82.89) and Mumbai (-20.4% to US$ 99.10).

The Americas

The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for October 2011.

The Americas region ended October with a 2.8% increase in occupancy to 62.9%, a 4% gain in ADR to US$106.69, and a 6.9% jump in RevPAR to US$67.14.

Among the key markets in the region, Miami, Florida, rose 9.3% in occupancy to 74.8%, reporting the largest increase in that metric, followed by Alberta, Canada (+8.2% to 64.1%), and Rio de Janeiro, Brazil (+7.4% to 79.2%). Buenos Aires, Argentina, posted the largest occupancy decrease, falling 10.0% to 67.4%, followed by Vancouver, Canada, with a 9.4% decrease to 62.6%.

Two markets experienced ADR increases of more than 15%: Sao Paulo, Brazil (+21.2% to US$147.38), and San Francisco, California (+19.4% to US$188.24). Vancouver (-5.4% to US$132.43) and Washington, D.C. (-0.5% to US$158.80), ended the month with the largest ADR decreases.

Four markets achieved RevPAR increases of more than 15%: Miami (+22.4% to US$105.71); Sao Paulo (+21.3% to US$102.30); San Francisco (+20.4% to US$161.27); and Rio de Janeiro (+18.2% to US$160.99). Vancouver fell 14.3% in RevPAR to US$82.86, reporting the largest decrease in that metric.

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 2011.

"Despite the economic news across Europe, the hotel market continued to report demand, occupancy and average-room-rate growth," said Ms. Randall. "Cities with higher declines in local RevPAR missed key events from last year: Cardiff (U.K.) benefited from the Ryder Cup last year and Gothenburg (Sweden) from a medical congress. Stockholm (Sweden) and Cologne (German) reported increases of more than 20% in RevPAR due to a medical congress and the Anuga trade fair, respectively."

Highlights from key market performers for October 2011 include (year-on-year comparisons, all currency in euros):

- Venice, Italy, rose 12% in occupancy to 85.2%, reporting the largest increase in that metric. Manchester, United Kingdom, followed with a 9.4% increase in occupancy to 82.9%.

- Occupancy in Malmo, Sweden fell 14.7% to 59.8% while Athens, Greece fell 12.8% to 60.5%.

- Three markets experienced ADR increases of more than 15%: Stockholm (+23.3% to EUR150.29); Cologne (+18.7% to EUR135.58); and Lisbon, Portugal (+18.2% to EUR99.14).

- Cardiff fell 20.2% in ADR to EUR63.29, posting the largest decrease in that metric.

- Three markets ended the month with RevPAR increases of more than 20%: Venice (+25.6% to EUR257.15); Stockholm (+23.7% to EUR114.07); and Cologne (+22.2% to EUR101.31).

- Gothenburg (-22.7% to EUR71.21), and Cardiff (-21.1% to EUR45.69) reported the largest RevPAR decreases.

 Middle East/Africa

The region ended the month with a 3.4% decrease in occupancy to 63.4%, a 7.3% rise in ADR to US$169.42, and a 3.6% increase in RevPAR to US$107.37.

"Across the Middle East, demand continued to improve with a 12% growth against October 2010, while supply growth remained around the 5% mark. The favourable dynamic between the two provided the subregion with its first double-digit RevPAR growth of the year," said Ms. Randall. "Northern Africa's trading continued to be difficult with declining demand resulting in declining occupancy and average room rates. Southern Africa, on the contrary, reported demand, occupancy and RevPAR growth."

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

- Sandton, South Africa, and the surrounding areas, reported the largest occupancy increase, rising 13.4% to 60.8%, followed by Abu Dhabi, United Arab Emirates, with a 10.5% increase to 76%.

- Cairo, Egypt, posted the largest occupancy decrease, falling 38.4% to 46.4%, followed by Amman, Jordan, with a 22.6% decrease to 65.1%.

- Riyadh, Saudi Arabia, rose 9.2% in ADR to US$294.70, reporting the largest increase in that metric, followed by Jeddah, Saudi Arabia, with an 8.7% increase to US$188.61.

- Abu Dhabi (-13.1% to US$166.97) and Cairo (-13% to US$111.44) ended the month with the largest ADR decreases.

- Three markets achieved double-digit RevPAR increases: Jeddah (+14.5% to US$146.77); Dubai, UAE (+13.5% to US$194.05); and Muscat, Oman (+10.2% to US$180.43).

- Cairo fell 46.4% in RevPAR to US$51.76, reporting the largest decrease in that metric.

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