STR Reports Global Hotel Statistics for 2010

According to data compiled by STR Global, hotels in the Asia Pacific region experienced increases in all three key performance metrics for year-end 2010 when reported in U.S. dollars.

In year-over-year measurements, the Asia Pacific region's occupancy rose 8.9% to 66%, ADR increased 11.4% to US$132.80, and RevPAR jumped 21.3% to US$87.69.

"Asia Pacific was the star performer during 2010. It was the only region to report double-digit RevPAR growth at year-end," said Elizabeth Randall, managing director of STR Global. "Demand came back strongly across the region due to better economic conditions and events such as the World Expo in Shanghai. Absolute RevPAR now lags 2008 peaks by only US$1.60."

Highlights from key market performers for year-end 2010: (year-over-year comparisons, all currencies in U.S. dollars)

- Shanghai, China, experienced the largest occupancy increase, rising 27.7% to 63.4%, followed by Beijing, China, with a 21.5% increase to 63.1%.

- Perhaps not surprisingly, Bangkok, Thailand, posted the only occupancy decrease for the year, falling 2.7% to 53.3%.

- Four markets reported ADR increases of more than 20%: Sydney, Australia (+22.5% to US$165.95); Hong Kong, China (+22.3% to US$205.34); Shanghai (+21% to US$128.77); and Brisbane, Australia (20.5% to US$159.94).

- Shanghai jumped 54.6% in RevPAR to US$81.70, reporting the largest increase in that metric, followed by Hong Kong (+34.9% to US$166.87) and Sydney (+31.1% to US$138.60).

- Bangkok ended the year virtually flat in RevPAR with a 0.3% decrease to US$50.26.

Hotels in Asia Pacific - December 2010

Overall in December, the Asia Pacific region's occupancy increased 2.4% to 63.9%, ADR was up 15% to US$146.87, and RevPAR jumped 17.8% to US$93.91.

Among the key markets, Beijing posted the largest occupancy increase, rising 13.2% to 58.3%, followed by Jakarta, Indonesia, with a 10.7% decrease to 70.5%. Shanghai fell 8.3% in occupancy to 44.9%, reporting the largest decrease in that metric.

Two markets reported ADR increases of more than 25%: Hong Kong (+27.3% to US$233.66) and Sydney (+26.5% to US$211.53).

Sydney jumped 29% in RevPAR to US$172.62, reporting the largest increase in that metric.

None of the region's key markets experienced decreases in ADR or RevPAR.

The Americas

The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for year-end 2010 and December 2010.

The Americas region ended the year with a 5.6% increase in occupancy to 57.8%, ADR finished virtually flat with a 0.6% increase to US$100.32, and RevPAR was up 6.2% for the year to US$57.99.

Among the key markets in the region, Buenos Aires, Argentina, experienced the largest occupancy increase, rising 20.6% to 66.6%, followed by Mexico City, Mexico, with a 17.4% increase to 58.5%. Alberta, Canada (-0.6% to 58.4%), and Manitoba/Saskatchewan, Canada (-0.3% to 67.0%) both reported minimal occupancy decreases for the year.

Three markets achieved ADR increases of more than 20%: Sao Paulo, Brazil (+22.4% to US$114.08); Rio de Janeiro, Brazil (+21.9% to US$182.56); and Vancouver, Canada (+21.2% to US$146.39). San Juan, Puerto Rico, fell 5.1% in ADR to US$160.11, reporting the largest decrease in that metric.

Three markets experienced RevPAR increases of more than 25%: Sao Paulo (+37% to US$75.22); Vancouver (+27.9% to US$99.12); and Rio de Janeiro (+27.8% to US$128.97).

The Americas - December 2010

During December 2010, the Americas region's occupancy rose 5.2% to 46.3%, ADR went up 2.1% to US$99.69, and RevPAR increased 7.5% to US$46.18.

Among the region's key markets, Montreal, Canada, posted the only double-digit occupancy increase, rising 12.8% to 48.1%. Manitoba/Saskatchewan reported the largest occupancy decrease, falling 3.5% to 51.9%.

Three markets achieved ADR increases of more than 10%: Sao Paulo (+17.8% to US$120.80); Santiago, Chile (+16.1% to US$150.97); and San Francisco, California (+11% to US$130.52). San Juan was the only market to post an ADR decrease, falling 5.1% to US$174.21.

Sao Paulo jumped 28.1% in RevPAR to US$68.46, reporting the largest increase in that metric. Santiago followed with a 27.1% increase to 97.49. None of the region's key markets reported RevPAR decreases.

Europe

The European hotel industry posted mostly positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for year-end 2010.

"Recovery took hold over most of Europe during 2010," said Ms. Randall. "Demand returned, and with limited supply increases overall, most hotel markets boosted their occupancy levels and were able to build their average rates. Whilst we have seen great percentage change growth, we need to highlight that in most cases the peak-levels of 2008 have not yet been reached. As RevPAR continued to show similar growth levels in the last quarter of 2010 as in the third and second quarter, it makes us optimistic about a continued recovery in 2011."

Highlights from key market performers for year-end 2010 include (year-over-year comparisons, all currency in euros):

- Istanbul, Turkey, reported a 14.2% occupancy increase to 72.7%.

- Malmo, Sweden, fell 5.7% in occupancy to 63.5%, reporting the largest decrease in that metric.

- Stockholm, Sweden (+19.1% to EUR118.46), and Munich, Germany (+18.5% to EUR113.18), experienced the largest ADR increases for the year.

- Munich reported a RevPAR increase of 31.1% to EUR81.56.

- Copenhagen, Denmark, reported the largest ADR (-14.8% to EUR96.33) and RevPAR (-12.4% to EUR62.48) decreases for the year.

Europe - December 2010

Overall for December, the Europe region's occupancy rose 1.4% to 52.1%, ADR was up 6.6% to EUR97.36, and RevPAR increased 8.0% to EUR50.68.

Middle East / Africa

The Middle East / Africa region reported increases in all three key performance measurements for year-end 2010 when reported in U.S. dollars.

The region's occupancy ended the year with a 0.8% increase to 61.8%, ADR rose 3.1% to US$156.94, and RevPAR went up 4% to US$97.04.

"The recovery across the Middle East/Africa region was the slowest and smallest of the world regions in 2010," Ms. Randall said. "Still, the year ended with a 4% RevPAR growth, which was boosted mainly by strong performance in Africa. The [FIFA] World Cup held by South Africa in the summer helped to bring additional demand and world attention to the region."

Highlights among the region's key markets for year-end 2010 include (year-on-year comparisons, all currency in U.S. dollars):

- Amman, Jordan, experienced the largest occupancy increase, rising 6.5% to 60.6%, followed by Muscat, Oman, with a 4.8% increase to 55.8%.

- Abu Dhabi, United Arab Emirates, reported the largest decreases in all three key performance metrics. The market's occupancy dropped 13.9% to 58.8%, ADR was down 31.2% to US$198.11, and RevPAR decreased 40.7% to US$116.52.

- Johannesburg, South Africa (+30.5% to US$117.10), and Cape Town, South Africa (+27.4% to US$158.27) posted the largest ADR increases for the year.

- Johannesburg jumped 29.4% in RevPAR to US$70.56, reporting the largest increase in that metric.

Middle East / Africa - December 2010

In December, the Middle East / Africa region's occupancy rose 4.6% to 59.6%, ADR was up 4.7% to US$173.55, and RevPAR increased 9.5% to US$103.51.

Among the key markets, Muscat (+30.8% to 74.8%) and Abu Dhabi (+24% to 63.5%) reported the largest occupancy increases. Two markets reported double-digit occupancy decreases for the month: Beirut, Lebanon (-14.1% to 59%), and Cape Town (-12.1% to 56.1%).

Muscat jumped 16.3% in ADR to US$328.26, reporting the largest increase in that metric. Two markets reported ADR decreases: Abu Dhabi (-27.6% to US$199.72) and Dubai (-1.5% to US$240.35).

Two markets posted RevPAR increases of more than 20%: Muscat (+52.1% to US$245.41) and Riyadh (+22.5% to US$167.50). Beirut reported the largest RevPAR decrease, falling 12.7% to US$141.87.

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