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STR Reports Global Hotel Performance in April 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 April 2011 when reported in U.S. dollars.

In year-on-year measurements, the Asia Pacific region's occupancy fell 2.1% to 64.7%, ADR increased 14.6% to US$143.99, and RevPAR jumped 12.2% to US$93.19.

"Asia Pacific's overall RevPAR performance continues to be driven by improvements in average room rates," said Elizabeth Randall, managing director of STR Global. "Out of the 15 countries tracked in our Asia Pacific Hotel Review, only Japan, following the devastating March earthquake and tsunami, reported a decline in average room rates. Occupancy levels across the region, following a strong re-bounce last year, declined slightly compared to last year. Tokyo's demand continued to drop, reporting a 43% decline to 1.05 million occupied rooms for April. Osaka's demand dropped 15% to 725,000 occupied rooms."

"Bangkok reported a strong bounce in occupancy this month as anti-government demonstrations had started in the Thai capital in April 2010," Randall added. "The next couple of months are expected to show a continuing recovery as May and June were the most impacted months last year. In the second-quarter 2010, Bangkok dropped 31% in RevPAR compared to the second-quarter 2009."

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

- Bangkok, Thailand, experienced the largest occupancy increase, rising 36.9% to 59.3%, followed by Mumbai, India, with a 16.5% increase to 66.5%.

- Tokyo, Japan, fell 42.8% in occupancy to 46.4%, posting the largest decrease in that metric, followed by Osaka, Japan, which reported a 15.4% drop to 69.1%.

- Hong Kong, China, rose 26.4% in ADR to HK$2061.39, reporting the largest increase in that metric.

- Three markets achieved RevPAR increases of more than 20%: Bangkok (+42.3% to THB1805.12); Hong Kong (+27.4% to HK$1668.12); and Jakarta, Indonesia (+21.7% to IDR558290.50).

Highlights from key market performers for April 2011 (year-on-year comparisons, all currencies in U.S. dollars):

- Osaka, Japan, rose 33% in ADR to US$143.96, followed by Brisbane, Australia, which rose 32.4% in ADR to US$194.73; Hong Kong (+26.4% to US$265.32); Sydney, Australia (+25.4% to US$194.96); and Jakarta (+20.4% to US$91.79).

- Five markets achieved RevPAR increases of more than 25%: Bangkok (+53.6% to US$60.19); Brisbane (+30.7% to US$141.14); Hong Kong (+27.4% to US$214.70); Jakarta (+27.3% to US$64.71); and Sydney (+25.2% to US$158.53).

The Americas

The Americas region ended April with a 4.7% increase in occupancy to 61.2%, ADR was up 3.3% to US$103.53, and RevPAR rose 8.1% for the month to US$63.35.

Among the key markets in the region, Rio de Janeiro, Brazil, achieved the largest occupancy increase, rising 13.1% to 77.4%, followed by Miami-Hialeah, Florida, with a 9.5% increase to 79.8%. Two markets posted occupancy decreases of more than 5%: Toronto, Canada (-8% to 63.4%), and Washington, D.C. (-6% to 73.7%).

Sao Paulo, Brazil, jumped 28.4% in ADR to US$147.95, reporting the largest increase in that metric. Rio de Janeiro (+15.4% to US$207.33) and Miami-Hialeah (+13.1% to US$170.73), followed Sao Paulo with the only other double-digit ADR increases. Washington, D.C. (-2.9% to US$151.28), and Toronto (-0.4% to US$138.37) reported the only ADR decreases for the month.

Three markets experienced RevPAR increases of more than 20%: Sao Paulo (+34.4% to US$103.46); Rio de Janeiro (+30.6% to US$160.48); and Miami-Hialeah (+23.8% to US$136.25). Two markets posted RevPAR decreases: Washington, D.C (-8.8% to US$111.55), and Toronto (-8.4% to US$87.78).

 Europe

"Europe's April performance was impacted by Easter, which took place in mid-April this year compared to beginning of April 2010", said Elizabeth Randall. "The region's monthly performance also was affected by the volcanic eruption in April 2010 and its ash cloud closing European air space for parts of the month. These counter-forces on the monthly performance make April a difficult month to judge in isolation. Looking on the longer-term trend, Europe has produced a steadily improving occupancy and average room rate performance since March 2010."

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

- Four markets achieved occupancy increases of more than 20%: Venice, Italy (+33.2% to 79.0%); Budapest, Hungary (+24.3% to 69.1%); Prague, Czech Republic (+22.7% to 75.5%); and Florence, Italy (+21.2% to 76.6).

- Frankfurt, Germany, posted the only double-digit occupancy decrease, falling 11.8% to 57.9%.

- Salzburg, Austria (+25.8% to EUR97.68), and Paris, France (+16.7% to EUR219.91), reported the largest ADR increases for the month.

- Munich, Germany, fell 34% in ADR to EUR93.08, reporting the largest decrease in that metric, followed by Dusseldorf, Germany, with a 21.7% decrease to EUR89.10.

- Four markets experienced RevPAR increases of more than 25%: Venice (+45.6% to EUR203.88); Florence (+32.6% to EUR110.15); Paris(+28.5% to EUR181.29); Salzburg (+27.0% to EUR59.38).

- Three markets reported RevPAR decreases of more than 20%: Munich (-36.3% to EUR60.99); Dusseldorf (-23.7% to EUR46.40); and Frankfurt (-22.5% to EUR65.11).

 Middle East / Africa

The Middle East/Africa region's occupancy ended the month with a 9.7% decrease to 59%, its ADR rose 10.8% to US$176.82, and its RevPAR ended the month virtually flat with a 0.1% increase to US$104.25.

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

- Two markets ended the month with double-digit occupancy increases: Riyadh, Saudi Arabia (+17% to 73.8%), and Abu Dhabi, United Arab Emirates (+15.7% to 69.3%).

- Cairo, Egypt, dropped 52.1% in occupancy to 33%, reporting the largest decrease in that metric, followed by Johannesburg, South Africa (-22.1% to 46.3%), and Muscat, Oman (-20.3% to 53.1%).

- Johannesburg (+21.6% to US$118.06), and Cape Town, South Africa (+15.7% to US$153.09), reported the largest ADR increases.

- Three markets experienced double-digit ADR decreases: Abu Dhabi (-20.3% to US$164.97); Beirut, Lebanon (-16.8% to US$195.19); and Cairo (-12.2% to US$114.93).

- Four markets achieved RevPAR increases of more than 10%: Riyadh (+27.5% to US$210.51); Cape Town (+25.1% to US$84.94); Dubai, United Arab Emirates (+13.3% to US$216.67); and Jeddah, Saudi Arabia (+13.0% to US$150.70).

- Cairo fell 57.9% in RevPAR to US$37.93, reporting the largest decrease in that metric.

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