STR Reports Global Hotel Performances for September 2012

According to data compiled by STR Global, hotels in the Asia Pacific region experienced mixed results in the three key performance metrics for September 2012 when reported in U.S. dollars.

In year-on-year measurements, the Asia Pacific region's occupancy fell 1.1% to 67.5%, its ADR rose 3.7% to US$140.44 and its RevPAR was up 2.5% to US$94.74.

"New Zealand hosted, and won, the Rugby World Cup last year, which took place 9 September to 23 October 2011, explaining the more than 30% decline in ADR and RevPAR results during September," said Elizabeth Randall Winkle, managing director of STR Global. "Ignoring last year's strong event-driving performance, RevPAR for the January to September period year to date is greater than the last peak in 2008. Year-to-September 2012 achieved a RevPAR of NZ$93.68 compared to NZ$92.30 for YTD 2008."

"Jakarta, Indonesia, continued its double-digit ADR growth in local currency for the 15th consecutive month. ADR growth benefited from strong demand increases, as September this year and last year saw the highest growth in monthly demand in the last 21 months," Ms. Randall Winkle added.

Highlights from key market performers in September 2012 in local currency (year-on-year comparisons):

- Jakarta reported the largest occupancy increase, rising 13.9% to 80.0%, followed by Hanoi, Vietnam, with a 13.3% increase to 64.3%.

- Taipei, Taiwan, fell 10.1% in occupancy to 63.7%, posting the largest decrease in that metric.

- Jakarta achieved the largest ADR increase, rising 23.1% to IDR1,001,527.24, followed by Tokyo, Japan, with a 11.4% increase to JPY14,526.98.

- Auckland, New Zealand, experienced the largest ADR (-40.6% to NZ$133.08) and RevPAR (-42.3% to NZ$93.36) decreases for the month.

- Jakarta rose 40.1% in RevPAR to IDR801,622.64, reporting the largest increase in that metric.

The Americas

The Americas region ended the month virtually flat with a 0.4% increase in occupancy to 63.4%, a 3.6% gain in ADR to US$109.26 and a 4.1% increase in RevPAR to US$69.32.

Among the region's key markets, San Juan, Puerto Rico, rose 9.4% in occupancy to 63.5%, reporting the largest increase in that metric, followed by Chicago, Illinois, with an 8.4% increase to 76.3%.

San Francisco posted the largest ADR increase, rising 14.3% to US$194.80, followed by Santiago, Chile (+13.2% to US$162.11), and Rio de Janeiro, Brazil (+12.7% to US$217.25).

Four markets achieved double-digit RevPAR increases: Chicago (+21.5% to US$107.93); San Francisco (+12.9% to US$171.12); Rio de Janeiro (+12.3% to US$162.47); and Mexico City, Mexico (+10.8% to US$87.98).

Panama City, Panama, experienced the largest decreases in all three key performance metrics. The market's occupancy fell 22.8% to 43.1%, its ADR was down 13.4% to US$111.36 and its RevPAR decreased 33.1% to US$48.01.

Europe

Highlights from key market performers for September 2012 include (year-on-year comparisons, all currency in euros):

- Bratislava, Slovakia, rose 23.5% in occupancy to 69.9%, reporting the largest increase in that metric.

- Three markets experienced ADR increases of 15% or more: Vienna (+22.7% to EUR129.20); Prague, Czech Republic (+15.3% to EUR91.03); and Reykjavik, Iceland (+15.0% to EUR103.81).

- Vilnius, Lithuania (-28.9% to EUR51.15), and Athens, Greece (-14.8% to EUR96.01), reported the largest ADR decreases for the month.

- Seven markets achieved RevPAR increases of more than 15%: Dublin (+25.9% to EUR88.84); Vienna (+25.3% to EUR112.26); Bratislava (+18.8% to EUR43.80); Reykjavik (+17.6% to EUR83.50); Berlin (+16.3% to EUR96.26); Prague (+15.6% to EUR75.93); and Manchester, United Kingdom (+15.2% to EUR69.07).

Vilnius fell 30.8% in RevPAR to EUR34.72.

"Increases in average room rate are still the main driver for RevPAR growth across Europe," said Ms. Randall Winkle. "Whilst demand, in terms of occupied rooms, is at historic high levels for September-with 97 million rooms occupied throughout the month and year to date-the growth in demand and occupancy has been stagnating for most of the year. September was a good month for Vienna (Austria) and Dublin (Ireland), with RevPAR increases of more than 20%. Both cities benefited from congresses and convention business."

Middle East / Africa

The region's occupancy increased 5.4% to 60.7% during the month, its ADR fell 1.7% to US$137.76 and its RevPAR grew by 3.6% to US$83.63.

"Beirut, Lebanon, experienced two very different sides to this year," said Ms. Randall Winkle. "The first five months saw double-digit RevPAR increases and the last four months saw falling RevPAR results. September, unfortunately, reported the highest declines so far with RevPAR falling 56.5% compared to September 2011. Recent events and unrests will provide further challenges to the city's residents and guests."

Highlights among the region's key markets for September 2012 include (year-on-year comparisons, all currency in U.S. dollars):

- Cairo, Egypt (+24.6% to 52.3%), and Muscat, Oman (+20.8% to 59.0%), reported the largest occupancy increases.

- Amman, Jordan, reported the only double-digit ADR increase, rising 10.1% to US$156.07.

- Amman (+22.3% to US$105.87) and Sandton, South Africa, and the surrounding areas (+18.2% to US$84.30), reported the largest RevPAR increases.

- Beirut posted the largest decrease in all three key performance metrics. The markets occupancy fell 40.1% to 42.7%, its ADR was down 27.5% to US$166.36 and its RevPAR decreased 56.6% to US$71.11.

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