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

In year-on-year measurements, the Asia Pacific region's occupancy rose 1.4% to 69.3%, ADR increased 13.9% to US$139.80, and RevPAR jumped 15.4% to US$96.94.

"Occupancy across the Asia Pacific region picked up again for July, reporting the highest monthly occupancy of the year so far," said Elizabeth Randall, managing director of STR Global. "The highest increases were reported by the Thai markets of Bangkok and Phuket, which are still recovering from the political turmoil of last year."

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

 Phuket, Thailand, rose 30.1% in occupancy to 71%, reporting the largest increase in that metric, followed by Bangkok, Thailand, with a 29.8% increase to 67.9%.

Two key markets posted double-digit occupancy decreases: Shanghai, China (-19.2% to 61%), and New Delhi, India (-13.1% to 56.2%).

 Hong Kong (+26.4% to HK$1,714.70) and Jakarta, Indonesia (+16.9% to IDR799,573.67), experienced the largest ADR increases for the month.

 Shanghai fell 11.1% in ADR to CNY729.24, reporting the largest decrease in that metric, followed by Tokyo, Japan, with a 9.2% decrease to JPY13,067.26.

 Three key markets achieved RevPAR increases of more than 30%: Bangkok (+38.8% to THB1,989.11); Phuket (+37.7% to THB2,035.58)and Hong Kong (+31.9% to HK$1,465.44).

 Shanghai reported the largest RevPAR decrease, falling 28.2% to CNY445.07.

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

 Brisbane, Australia, reported the largest ADR increase, rising 37.2% to US$207.80, followed by Sydney, Australia, with a 27.8% increase to US$190.79.

 None of the region's key markets reported ADR decreases.

 Three markets achieved RevPAR increases of more than 40%: Bangkok (+48.5% to US$65.69); Phuket (+47.4% to US$67.23); and Brisbane (+41.8% to US$180.33).

 Two markets experienced double-digit RevPAR decreases: Shanghai (-24.5% to US$68.93) and New Delhi (-11.6% to US$85.77).

The Americas

The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for July 2011, according to data compiled by STR and STR Global.

The Americas region ended July with a 2.9% increase in occupancy to 69.9%, ADR was up 4.5% to US$105.68, and RevPAR rose 7.5% for the month to US$73.82.

Among the key markets in the region, Santiago, Chile, reported the largest occupancy increase, rising 12.2% to 73.6%. Three other markets also reported double-digit occupancy increases: Montreal, Canada (+11.7% to 77%); Miami, Florida (+11.4% to 75.8%); and Rio de Janeiro, Brazil (+10.7% to 72.1%). Toronto, Canada (-0.9% to 73.3%), and Washington, D.C. (-0.7% to 76.2%), posted the only occupancy decreases for the month.

Sao Paulo, Brazil, jumped 33.8% in ADR to US$143.20, experiencing the largest increase in that metric, followed by Rio de Janeiro (+24.8% US$198.97).

Washington, D.C., was the only market to report decreases in both ADR (-0.6% to US$129.83) and RevPAR (-1.2% to US$98.88).

Four markets achieved RevPAR increases of more than 25%: Sao Paulo (+39.8% to US$97.39); Rio de Janeiro (+38.1% to US$143.48); Santiago (+29.9% to US$111.52); and Montreal (+26.1% to US$109.07).

Europe

The European hotel industry posted positive results in year-on-year metrics when reported in U.S. dollars, euros and British pounds for July 2011.

"European hotels continued to improve on last year with increased demand driving occupancy and ADR growth. The gains provided a welcomed contrast to more subdued economic news that made headlines recently," said Ms. Randall. "However, the slower GDP growth rates in selected key European markets make the outlook for the region a bit more challenging than it was a few months ago."

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

 Venice, Italy, rose 13.1% in occupancy to 85.7%, which was the largest increase in that metric. Venice was followed by Florence, Italy (+12.2% to 83.9%), and Manchester, United Kingdom (+12.1% to 82%).

 Malmo, Sweden, posted the largest occupancy decrease, falling 9.7% to 65%, followed by Vienna, Austria, with a 7.9% decrease to 76%.

 Three markets experienced ADR increases of more than 15%: Zurich, Switzerland (+20.6% to EUR207.93); Amsterdam, Netherlands(+20% to EUR134.61); and Stockholm, Sweden (+19.9% to EUR106.35).

 Cardiff, U.K., dropped 15% in ADR to EUR60.55, reporting the largest decrease in that metric, followed by Vienna with a 12.6% decrease to EUR85.22.

 Venice achieved the largest RevPAR increase, rising 28.1% to EUR242.18, followed by Dublin, Ireland (+19.9% to EUR67.09), and Florence (+19.4% to EUR130.52).

 Two markets posted double-digit RevPAR decreases: Vienna (-19.4% to EUR64.78) and Cardiff (-11.5% to EUR46.68).

 Middle East / Africa

The Middle East / Africa region reported decreases in all three key performance metrics during July 2011 when reported in U.S. dollars.

The region ended the month with a 1.2% decrease in occupancy to 60%, a 1% fall in ADR to US$139.89, and a 2.2% decline in RevPAR to US$83.98.

"The FIFA World Cup, which attracted extra demand and room supply during June/July 2010 across South Africa, made from a tough comparable this month throughout the country," Ms. Randall said. "Meanwhile, the consequences of the Arab Spring continue to impact the results for Northern Africa. Dubai and Jeddah, on the other hand, continue to improve on last year's performance, both reporting double-digit RevPAR growth."

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

 Three markets reported double-digit occupancy increases: Dubai, United Arab Emirates (+17.6% to 77.9%); Jeddah, Saudi Arabia (+16.1% to 78.3%); and Abu Dhabi, UAE (+14.5% to 59.3%).

 Cairo, Egypt (-36.7% to 40.9%), and Sandton, South Africa, and the surrounding areas (-17.2% to 55.9%) posted the largest occupancy decreases for the month.

 Dubai rose 4.5% in ADR to US$162.18, reporting the largest increase in that metric, followed by Jeddah with a 4% increase to US$210.62.

 Two markets reported ADR decreases of more than 35%: Cape Town (-39.2% to US$117.74) and Sandton and the surrounding areas (-39% to US$138.52).

 Dubai jumped 22.8% in RevPAR to US$126.41, achieving the largest increase in that metric, followed by Jeddah (+20.8% to US$164.95).

 Sandton and the surrounding areas fell 49.5% in RevPAR to US$77.38, reporting the largest decrease in that metric.

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