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STR Reports Latest Global Hotel Performance

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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 June 2011 when reported in U.S. dollars.

In year-on-year measurements, the Asia Pacific region's occupancy ended the month virtually flat with a 0.6% increase to 65.2%, ADR increased 13.3% to US$133.79, and RevPAR jumped 13.9% to US$87.22.

"Asia Pacific will be an interesting region to watch during the coming months," said Elizabeth Randall, managing director of STR Global. "Only two out of the six months so far this year reported occupancy increases against the corresponding month in 2010. Whilst the demand across the region continued to grow (2% for the first half of the year), the new supply entering the region (3% for the same timeframe) kept the occupancy levels under pressure. Added to that is the reduced demand due to the earthquake and tsunami in Japan and key events like the World Expo in Shanghai last year."

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

- Bangkok, Thailand, jumped 78% in occupancy to 62.8%, reporting the largest increase in that metric. Phuket, Thailand, was the only other market to report a double-digit occupancy increase, rising 38.7% to 54.6%.

- Shanghai, China, reported the largest decrease in all three key performance metrics: Occupancy fell 27.6% to 58.5%, ADR was down 11.5% to CNY788.14, and RevPAR decreased 35.9% to CNY461.11.

- Three markets reported double-digit ADR increases: Hong Kong (+24.6% to HKD1,704.31); Bangkok (+11.1% to THB2,869.04); and Jakarta, Indonesia (+10.6% to IDR789,407.11).

- Bangkok rose 97.7% in RevPAR to THB1,800.34, reporting the largest increase in that metric.

Five markets achieved ADR increases of more than 20%: Brisbane, Australia (+30.8% to US$193.94); Melbourne, Australia (+30.8% to US$183.76); Sydney, Australia (+27.5% to US$180.83); Hong Kong (+24.6% to US$218.96); and Seoul, South Korea (+23.7% to US$180.09).
* Bangkok jumped 108.3% in RevPAR to US$58.26, reporting the largest increase in that metric. Three other markets posted RevPAR increases of more than 30%: Phuket (+55% to US$49.61); Melbourne (+39.8% to US$134.05); and Brisbane (+35.2% to US$164.44).

 Europe

"Europe continued with its solid performance for the first six months of this year," said Elizabeth Randall, managing director at STR Global. "Across the region we saw equal increases in occupancy and ADR, resulting in a 9% RevPAR increase. Despite the reoccurring uncertainties in the wider economic environment, European hoteliers benefitted from the continued improvement in business, MICE and leisure demand."

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

- Venice, Italy (+20.5% to 81.1%), and Lisbon, Portugal (+20.0% to 77.7%), reported the largest occupancy increases.

- Malmo, Sweden, reported the largest occupancy decrease, falling 10.1% to 58.6%.

 - Five markets experienced ADR increases of more than 15%: Venice (+36.2% to EUR392.74); Paris, France (+22.9% to EUR288.39);

- Prague, Czech Republic (+18.3% to EUR90.15); Dusseldorf, Germany (+18.1% to EUR107.27); and Amsterdam, Netherlands (+16% to EUR152.27).

- Glasgow, Scotland, reported the largest ADR decrease, falling 16% to EUR69.59, followed by Oslo, Norway, with a 13.4% decrease to EUR113.84.

- Venice jumped 64% in RevPAR to EUR318.44, reporting the largest increase in that metric. Three other markets reported RevPAR increases of more than 30%: Prague (+39.8% to EUR70.76); Lisbon (+33.3% to EUR73.34); and Milan, Italy (+32.2% to EUR97.72).

- Oslo fell 21.9% in RevPAR to EUR80.22, reporting the largest decrease in that metric, followed by Glasgow with an 18.9% decrease to EUR56.07.

 Middle East / Africa

The region ended the month with a 9.7% decrease in occupancy to 54.1%, ADR fell 4.3% to US$141.10, and RevPAR ended the month with a 13.6% decrease to US$76.32.

"As South Africa hosted the FIFA World Cup in June and July 2010, the results for June this year consequently are showing declines against last year", said Elizabeth Randall, managing director of STR Global. "Southern Africa reports a 35% RevPAR decrease, followed by Northern Africa with a 26% RevPAR decrease for the month. The Middle East (excluding Egypt) continued to report occupancy improvements with stable ADR results highlighting the strengthening of recovery across the region."

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

- Two markets reported double-digit occupancy increases: Jeddah, Saudi Arabia (+12.8% to 78.2%), and Dubai, United Arab Emirates(+12% to 70%).

- Sandton, South Africa, and the surrounding areas, reported the largest decreases in all three key performance metrics. Occupancy fell 35% to 55.7%, ADR dropped 48.2% to US$140.85, and RevPAR decreased 66.3% to US$78.50.

- Jeddah reported the largest increases in ADR (+12% to US$214.83) and RevPAR (+26.4% to US$168.06).

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