ASIA Travel Tips.com

STR Reports Global Hotel Performances for March 2012

Search ASIA Travel Tips .com Send to Friend ASIA Travel Tips.com Latest Travel News Tuesday, 24 April 2012
 

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

In year-on-year measurements, the Asia Pacific region's occupancy increased 4.4% to 69.4%, ADR increased 4.8% to US$145.64 and RevPAR was up 9.4% to US$101.01.

"A year has passed since the tragic natural disasters occurred in Japan," said Elizabeth Randall, managing director of STR Global. "The country's hotel performance started to improve over recent months and reported a bounce back with Japan's RevPAR for the month increasing 38% in local currency as compared to March last year. The biggest RevPAR growth was reported by Sendai (118%) and Yokohama (85%), whilst Osaka reported a 7% decline compared to last year."

In the first quarter of the year the region's occupancy rose 1.8% to 65.4%, ADR was up 5.2% to US$147.16 and RevPAR increased 7.1% to US$96.26.

"Looking at the first quarter performance, the majority of countries across the region continue to show improvements in ADR and RevPAR," Randall added. "One exception is India, which reported declining performance for all key indicators. This trend started in the middle of last year and reflects the increases in supply and slow absorption rates across the country."

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

- Tokyo, Japan, achieved the largest occupancy increase, rising 47.6% to 84.7%, followed by Shanghai, China (+11.5% to 64.0%), and Hanoi, Vietnam (+11.0% to 76.9).

- New Delhi, India (-7.4% to 68.8%), and Ho Chi Minh City, Vietnam (-6.5% to 71.7%), reported the largest occupancy decreases.

- Seoul, South Korea, which benefited from the second Nuclear Security Summit in March, jumped 22.1% in ADR to KRW231,577.48, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 18.8% increase to IDR934,968.80.

- Osaka, Japan, fell 9.9% in ADR to JPY10,475.66, posting the largest decrease in that metric.

- Four markets experienced RevPAR increases of more than 20%: Tokyo (+56.9% to JPY12,174.34); Seoul (+25.8% to KRW185,895.42); Taipei, Taiwan (+23.0% to TWD4,798.63); and Jakarta (+20.8% to IDR691,744.20).

- New Delhi fell 12.2% in RevPAR to INR6,044.08, reporting the only double-digit decrease in that metric.

Highlights from key market performers for March 2012 in U.S. dollars (year-on-year comparisons):

- Seoul rose 18.9% in ADR to US$204.02, achieving the largest increase in that metric, followed by Beijing, China, with a 15.2% increase to US$117.39.

- Mumbai fell 17.5% in ADR to US$160.01, posting the largest decrease in that metric.

- Four markets experienced RevPAR increases of more than 20%: Tokyo (+58.0% to US$147.96); Taipei (+22.7% to US$162.34); Seoul (+22.5% to US$163.77); and Beijing (+20.6% to US$87.33).

- New Delhi reported the largest RevPAR decrease, falling 23.5% to US$116.05.

The Americas

 The Americas region reported a 3.8% increase in occupancy to 63.7%, a 3.5% gain in ADR to US$109.06 and a 7.5% jump in RevPAR to US$69.49.

Among the region's key markets, Sao Paulo, Brazil (+6.4% to 70.8%), and Vancouver, British Columbia (+6.4% to 65.0%), reported the largest occupancy increases for the month. Santiago, Chile, fell 1.5% in occupancy to 83.3%, posting the largest decrease in that metric, followed by Mexico City, Mexico, with a 1.0% decrease to 66.6%.

Santiago experienced the largest ADR increase, rising 25.0% to US$211.97. Rio de Janeiro, Brazil, fell 13.5% in ADR to US$227.22, reporting the only double-digit decrease in that metric.

Five markets achieved double-digit RevPAR increases: Santiago (+23.1% to US$176.57); Sao Paulo (+14.1% to US$106.35); San Francisco, California (+11.4% to US$117.82); Chicago, Illinois (+11.1% to US$70.73); and New York, New York (+10.4% to US$176.88). Rio de Janeiro (-8.7% to US$189.39) and Panama City, Panama (-6.0% to US$80.23), reported the largest RevPAR decreases in March.

In first quarter 2012 the region's occupancy rose 3.6% to 57.1%, ADR was up 3.7% to US$106.83, and RevPAR increased 7.5% to US$60.95.

Europe

The European hotel industry posted mostly positive results in year-on-year metrics when reported in U.S. dollars, euros and British pounds for March 2012.

"After several weak months of moderate rate growth in the European hotel market, March reported a 3.0% ADR increase, yet occupancy for the month remained flat," said Ms. Randall. "The recent reprieve in the economic environment across Europe seems to as well apply to the Europe hotel market as we are seeing signs of improvement and subtle growth."

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

- Reykjavik, Iceland, rose 17.9% in occupancy to 66.8%, reporting the largest increase in that metric, followed by Tallinn, Estonia (+17.5% to 52.1%), and Prague, Czech Republic (+12.0% to 60.6%).

- Vienna, Austria, posted the largest occupancy decrease, falling 8.7% to 67.5%.

- Paris experienced double-digit ADR increase of +13.5% to EUR235.22.

- Frankfurt, Germany (-10.7% to EUR117.67), and Vilnius, Lithuania (-10.4% to EUR50.13), reported the largest ADR decreases for the month.

- Three markets achieved RevPAR increases of more than 15%: Tallinn (+28.4% to EUR31.54); Prague (+17.1% to EUR40.11); and Reykjavik (+16.7% to EUR37.99).

- Vienna dropped 17.4% in RevPAR to EUR66.53, reporting the largest decrease in that metric.

In the first quarter of 2012, the region reported a 0.8% increase in occupancy to 57.5%, a 1.7% rise in ADR to EUR97.45 and a 2.5% increase to EUR56.07.

Middle East/Africa

In March 2012, the region's occupancy jumped 14.6% to 65.1%, its ADR increased 3.3% to US$175.33 and its RevPAR jumped 18.4% to US$114.07.

"During March, the hotels across Middle East, Northern and Southern Africa reported improving occupancy levels," Ms. Randall saidl. "We report a 71% increase (19.6%age points) in Northern Africa's occupancy, the absolute occupancy is 47%. The growth in occupancy is influencing RevPAR, however, there is continued pressure on average room rates. In other parts of the region, signs of stabilisation can be seen in the strong RevPAR improvements in Bahrain, Lebanon and Jordan. Additional increases of more than 20% were reported by Saudi Arabia and Oman, as well."

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

- Manama, Bahrain, jumped 112.1% in occupancy to 45.1%, reporting the largest increase in that metric, followed by Cairo, Egypt (+96.9% to 45.7%), and Amman, Jordan (+54.6% to 80.9%).

- Abu Dhabi, United Arab Emirates, reported the largest occupancy decrease, falling 6.9% to 66.2%, followed by Doha, Qatar, with a 6.5% decrease to 62.8%.

- Manama increased 14.6% in ADR to US$217.34, achieving the largest increase in that metric.

- Cape Town, South Africa (-8.5% to US$137.35), and Cairo (-7.9% to US$107.89), posted the largest ADR decreases for the month.

- Three markets achieved RevPAR increases of more than 30%: Manama (+143.1% to US$97.96); Cairo (+81.3% to US$49.26); Amman (+54.7% to US$118.81); and Beirut, Lebanon (+42.1% to US$122.83).

- Abu Dhabi reported the only double-digit RevPAR decrease, falling 11.5% to US$109.02.

In the first quarter of 2012 the region's occupancy rose 8.9% to 60.9%, its ADR was virtually flat with a 0.9% increase to US$175.97 and its RevPAR increased 9.9% to US$107.23.

See other recent news regarding: Airlines, Airline Traffic, Airports, Awards, Flights, Codeshare, FFP, Inflight, Lounges, First Class, Business Class, MICE, GDS, Rewards, Miles, Hotels, Apartments, Promotions, Spas, Yoga, Retreat, New Hotels, Traffic, Visitor Arrivals, Cruises, Free Deals, Interviews, Pictures, Sports Tourism, Videos, STR, March 2012

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Advertising
Advertising
Copyright © 1997-2020 TravelNewsAsia.com