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STR Reports Global Hotel Performance for November 2011

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

 In year-on-year measurements, the Asia Pacific region's occupancy increased 2.1% to 71.9%, its ADR increased 4.7% to US$143.08 and its RevPAR was up 6.9% to US$102.89.

"Natural disasters dominated the news and affected hotel performance in the region over the past 11 months," said Elizabeth Randall, managing director of STR Global. "Despite this, demand across the region (+2.9% YTD) increased each month apart from March (-1.0%). With hotel performance continuing to pick up in November, year-to-date performance showed a 10.4% RevPAR increase to US$93.65."

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

- Mumbai, India, increased 15.6% in occupancy to 75.3%, posting the largest increase in that metric, followed by Shanghai, China, with a 14.2% increase to 65.9%.

- Bangkok, Thailand, fell 16.3% in occupancy to 55.1%, reporting the largest decrease in that metric.

- Hong Kong achieved the largest ADR increase, rising 21.8% to HK$2,180.37, reporting the largest increase in that metric, followed by Jakarta, Indonesia (+19.3% to IDR883,724.37), and Bali, Indonesia (+18.9% to IDR1,339,273.76).

- Two markets posted double-digit ADR decreases: Bangkok (-18.2% to THB2,460.66) and New Delhi (-11.7% to INR9,188.34).

- Three markets experienced RevPAR increases of more than 20%: Bali (+29.0% to IDR986,756.27); Jakarta (+27.3% to IDR731,977.56); and Hong Kong (+23.4% to HK$1,974.25).

- Bangkok (-31.5% to THB1,356.05) and New Delhi (-15.8% to INR6,707.27) posted the largest RevPAR decreases.

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

- Hong Kong rose 21.4% in ADR to US$279.78, reporting the largest increase in that metric, followed by Jakarta (+18.6% to US$96.24) and Bali (+18.1% to US$145.85).

- New Delhi (-22.0% to US$175.81) and Bangkok (-20.9% to US$78.50) ended the month with the largest ADR decreases.

- Four markets achieved RevPAR increases of more than 20%: Bali (+28.2% to US$107.46); Jakarta (+26.4% to US$79.71); Beijing (+23.2% to US$79.99); and Hong Kong (+22.9% to US$253.33).

- Two markets experienced RevPAR decreases of more than 25%: Bangkok (-33.8% to US$43.26) and New Delhi (-25.6% to US$128.34).

The Americas

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

The Americas region ended November with a 4.4% increase in occupancy to 56.2%, a 4.1% gain in ADR to US$102.90, and an 8.6% jump in RevPAR to US$57.87.

Among the key markets in the region, San Juan, Puerto Rico, reported the largest occupancy increase, up 10.1% to 74.0%, followed by San Francisco, California, with a 10.0% increase to 75.0%. Santiago, Chile, fell 6.2% in occupancy to 81.5%, posting the largest decrease in that metric, followed by Sao Paulo, Brazil, with a 4.9% decrease to 72.4%.

San Francisco rose 19.5% in ADR to US$158.42, experiencing the largest increase in that metric, followed by Miami, Florida, with a 13.6% increase to US$151.10. Alberta, Canada, reported the largest ADR decrease, falling 1.4% to US$125.19.

Four markets achieved RevPAR increases of more than 15%: San Francisco (+31.4% to US$118.78); Miami (+22.4% to US$118.58); San Juan (+18.5% to US$114.42); and Boston, Massachusetts (+15.3% to US$101.52). Santiago fell 3.0% in RevPAR to US$140.91, posting 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 November 2011.

"European hotel performance continued to hold on with slight increases in occupancy and average room rate compared to November 2010," said Elizabeth Randall. "Despite a weakening in the wider economic environment, demand is still up, growing 4.4% last month. With the year coming to a close, European hoteliers reported 6.0% RevPAR growth for the 11 months this year when measured in euros, almost equally driven by occupancy and ADR increases. The second half definitely showed softening and weaker year-on-year growth resulting from the stronger growth levels we saw in the latter half of 2010."

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

Performances of key markets in November (all monetary units in euros):

- Aberdeen, United Kingdom, (+8.1% to 81.1%), and Budapest, Hungary (+8.0% to 53.9%), reported the largest occupancy increases for the month.

- Athens, Greece, fell 13.8% in occupancy to 45.0%, posting the largest occupancy decrease.

- Paris, France, achieved the largest ADR increase, up 12.2% to EUR227.32, followed by Florence, Italy, with a 9.2% increase to EUR116.27.

- Two markets experienced double-digit ADR decreases: Cardiff, U.K. (-19.5% to EUR64.00), and Glasgow, U.K. (-14.3% to EUR71.44).

- Paris (+16.4% to EUR179.48) and Budapest (+14.2% to EUR33.61) reported the only double-digit RevPAR increases for the month.

- Cardiff fell 20.7% in RevPAR to EUR44.73, ending the month with the largest decrease in that metric.

 Middle East/Africa

The Middle East/Africa region reported mostly negative performance results during November 2011 when reported in U.S. dollars.

The region ended the month with a 4.3% decrease in occupancy to 65.8%, a 3.5% rise in ADR to US$184.24, and a 1.0% decrease in RevPAR to US$121.28.

"Due to the Arab Spring starting early this year across Northern Africa, the performances between Africa and the Middle East differ greatly," Ms. Randall said. "The month of November saw the continued trend of the past few months. Africa reported declining demand (-7%) and drops in occupancy, average rate and RevPAR. RevPAR only grew in January against the prior year. The Middle East, partly benefiting from the influx of visitors who diverted from Northern Africa, saw strong demand growth and reporting increases in the key indicators for November and year-to-date."

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

- Sandton, South Africa, and the surrounding areas rose 12.7% in occupancy to 66.7%, reporting the largest occupancy increase, followed by Cape Town, South Africa, with an 8.2% increase to 71.9%.

- Two markets reported double-digit occupancy decreases: Cairo, Egypt (-47.4% to 39.2%), and Muscat, Oman (-14.5% to 60.5%).

- Riyadh, Saudi Arabia (+11.7% to US$285.07), and Dubai, United Arab Emirates (+11.3% to US$279.06) posted the largest ADR increases.

- Sandton and the surrounding areas fell 16.6% in ADR to US$116.24, experiencing the largest ADR decrease, followed by Cairo with a 14.4% decrease to US$112.29.

- Two markets achieved double-digit RevPAR increases: Dubai (+19.5% to US$243.56) and Jeddah, Saudi Arabia (+14.3% to US$161.49).

- Cairo fell 55.0% to US$44.00, reporting the largest RevPAR decrease.

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