STR Global posts year-end '09, Dec. '09 results for Asia/Pacific

Hotels in the Asia/Pacific region experienced decreases for all three key performance metrics for year-end 2009 when reported in U.S. dollars, according to data compiled by STR Global.

In year-over-year measurements, the Asia/Pacific region’s occupancy fell 6.9 percent to 60.7 percent, average daily rate decreased 13.5 percent to US$119.91, and revenue per available room was down 19.4 percent to US$72.74.

Highlights from key market performers for year-end 2009: (year-over-year comparisons, all currency results in U.S. dollar)

• Seoul, South Korea, reported the only occupancy increase for 2009, up 3.8 percent to 80.9 percent.
• Bangkok, Thailand, experienced the largest occupancy decrease, falling 16.4 percent to 54.4 percent, followed by Phuket, Thailand, with a 12.2-percent decrease to 56.2 percent.
• Tokyo, Japan (+10.4 percent to US$228.76), Bali, Indonesia (+6.8 percent to US$119.56), and Osaka, Japan (+1.4 percent to US$119.81), were the only markets to end the year with ADR increases.
• Jakarta, Indonesia, ended the year virtually flat in ADR with a 0.1-percent increase to US$70.01.
• Three markets posted ADR decreases of more than 30 percent: Beijing, China (-37.8 percent to US$92.63); New Delhi, India (-35.0 percent to US$177.78); and Mumbai, India (-34.5 percent to US$183.20).
• Tokyo was the only market to report a RevPAR increase, up 3.2 percent to US$161.61.
• Beijing experienced the largest drop in RevPAR, which fell 42.6 percent to US$47.82, followed by New Delhi (-40.9 percent to US$113.93).

December 2009

Overall in December, the region’s occupancy increased 9.8 percent to 62.1 percent, ADR was up 0.7 percent to US$129.03, and RevPAR jumped 10.6 percent to US$80.08.

“The Asia/Pacific region is the one to watch at the moment”, said Elizabeth Randall, managing director of STR Global. “The region was the first to report RevPAR increases this year and is up 10.6 percent for December. The recovery of international tourist arrivals and the economic recovery in some of its major economies have boosted hotel performance. Whilst some markets still suffer under oversupply, especially in China, the region looks to be on good path to recover throughout 2010”.

Among the key markets in the region, Mumbai experienced the largest occupancy increase, jumping 92.7 percent to 70.1 percent, in light of favourable year-over-year comparisons after last year’s terrorist attacks. Seoul was the only market to report an occupancy decrease, falling 2.2 percent to 82.0 percent.

Brisbane, Australia, ended the month with the largest ADR increase, rising 28.0 percent to US$143.43. New Delhi reported the largest ADR decrease, falling 14.0 percent to US$182.43, followed by Osaka (-11.8 percent to US$120.17), and Phuket (-11.4 percent to US$172.09).

Mumbai led the RevPAR increases, jumping 75.9 percent to US$132.51, followed by Bangkok with a 62.1-percent increase to US$62.83. Osaka was the only market to experience a RevPAR decrease, falling 8.3 percent to US$95.72.

About STR Global | STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.

STR Global Global hotel review for December 2009 STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, M... Adobe PDF Document (Download Acrobat Reader) File Size: 154 Kb - Wednesday, 27 January 2010