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ADR and RevPAR for Hotels in Asia Pacific Increase 0.7% in August 2012

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

 In year-on-year measurements, the Asia Pacific region's occupancy ended the month virtually flat with a 0.1% decrease to 68.1%, ADR rose 0.7% to US$139.49 and RevPAR was up 0.7% to US$95.01.

"Average room rate growth across the Asia Pacific region slowed down in recent months with a 2% increase for the first eight months this year (YTD) after stronger growth performances last year," said Elizabeth Randall Winkle, managing director at STR Global. "Average rates for YTD are within US$ 4 just below their YTD 2008 performance, reflecting the strong market conditions across most of Asia Pacific."

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

- Phuket, Thailand, reported the largest occupancy increase, rising 10.4% to 76.8%.

- Taipei, China (-9.5% to 62.4%), and Ho Chi Minh City, Vietnam (-9.3% to 56.5%) reported the largest occupancy decreases for the month.

- Two markets experienced ADR increases of more than 15%: Jakarta, Indonesia (+21.2% to IDR899,647.86), and Tokyo, Japan (+16.7% to JPY14,572.61).

- Three markets achieved RevPAR increases of more than 20%: Phuket (+26.6% to THB2,315.92); Jakarta (+24.7% to IDR467,740.71); and Tokyo (+22.7% to JPY11,784.54).

- Delhi, India, reported the largest ADR (-10.1% to INR6,212.22) and RevPAR (-13.4% to INR3145.90) decreases for the month.

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

- Tokyo rose 14.0% in ADR to US$185.33, reporting the largest increase in that metric.

- Delhi (-25.5% to US$111.60) and Mumbai, India (-19.5% to US$132.22), reported the largest ADR decreases for the month.

- Two markets achieved RevPAR increases of more than 15%: Phuket (+20.9% to US$73.55) and Tokyo (+19.8% to US$149.87).

Americas

The Americas region reported a 2.8% increase in occupancy to 67.9%, a 3.8% gain in ADR to US$109.05 and a 6.7% increase in RevPAR to US$74.08.

Among the region's key markets, San Juan, Puerto Rico, rose 6.6% in occupancy to 79.2%, reporting the largest increase in that metric, followed by Los Angeles, California, with a 5.6% increase to 83.0%. Panama City, Panama, fell 15.1% in occupancy to 45.9%, posting the largest decrease in that metric.

San Francisco, California, experienced the only double-digit ADR increase, rising 12.8% to US$180.19. Sao Paulo, Brazil, reported the largest ADR decrease, falling 11.1% to US$133.08.

Two markets achieved RevPAR increases of more than 10%: San Francisco (+12.6% to US$162.96) and Los Angeles (+12.4% to US$112.85). Panama City (-22.3% to US$52.84) and Sao Paulo (-15.7% to US$93.65) ended the month with the largest RevPAR decreases.

Europe

"European hotels reported a bounce in average room rates this August as the Olympics took full effect in London and the U.K., and German cities hosted major trade fairs," Elizabeth Randall Winkle said. "Because the majority of the games took place during August, the event boosted average room rates in London, with the city reporting a 43.7% ADR increase in local currency. Further, average room rates in August 2011 were depressed with a 1% decline, leading to the bounce back. Occupancy managed to increase 0.5% compared to last year, halting a period of three months with declines. However, it remains a factor to watch in the coming months, especially in conjunction with the economic developments in Europe."

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

- Istanbul, Turkey, reported the largest occupancy increase, rising 23.9% to 65.2%, followed by Bratislava, Slovakia, with a 15.7% increase to 55.5%.

- Madrid, Spain, fell 16.3% in occupancy to 47.6%, reporting the only double-digit occupancy decrease for the month.

- London, United Kingdom, increased 60.6% in ADR to EUR199.27, achieving the largest increase in that metric. Geneva, Switzerland, followed with a 19.2% increase to EUR260.61.

- Madrid (-7.8% to EUR67.98) and Zurich, Switzerland (-7.6% to EUR174.20), posted the largest ADR decreases for the month.

- Five markets experienced RevPAR increases of 20% or more: London (+61.2% to EUR163.52); Istanbul (+39.8% to EUR99.76); Geneva (+32.8% to EUR151.77); Berlin, Germany (+20.5% to EUR60.62); and Reykjavik, Iceland (+20.0% to EUR117.37).

- Madrid fell 22.9% in RevPAR to EUR32.36, posting the largest decrease in that metric.

Middle East / Africa

This region's occupancy increased 11.9% to 53.8% during the month, its ADR increased 3.0% to US$154.93 and its RevPAR grew by 15.3% to US$83.37.

"Ramadan ended earlier this August compared to August 2011, and performance metrics were positively impacted because of it, showing a 19.6% RevPAR increase across the Middle East," said Elizabeth Randall Winkle. "Africa's RevPAR grew 5.4% as occupancy continued to recover, but average room rates (in U.S. dollars) remained under pressure."

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

- Cairo, Egypt, reported the largest occupancy increase, rising 69.7% to 37.9%, followed by Amman, Jordan, with a 52.9% increase to 43.2%.

- Riyadh, Saudi Arabia, fell 8.5% in occupancy to 31.0%, reporting the largest decrease in that metric.

- Dubai, United Arab Emirates, increased 23.7% in ADR to US$184.23, posting the largest increase in that metric, followed by Jeddah, Saudi Arabia (+18.1% to US$255.99), and Amman (+17.8% to US$160.00).

- Sandton, South Africa, and its surrounding areas, experienced the largest decrease in ADR, falling 11.6% to US$118.45.

- Six markets achieved RevPAR increases of more than 25%: Amman (+80.1% to US$69.10); Cairo (+66.4% to US$39.81); Dubai (+59.9% to US$109.29); Jeddah (+40.6% to US$202.75); Muscat, Oman (+36.1% to US$61.27); and Manama, Bahrain (+25.8% to US$67.08).

- Beirut, Lebanon, fell 4.9% in RevPAR to US$68.41, posting the largest decrease in that metric.

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