STR Global posts August 2009 results for Asia/Pacific
“With the Summer Olympics, which were held in Beijing, China, from 8-24 August 2008, China reported the largest decreases of the region,” said Elizabeth Randall, managing director of STR Global. “China dropped 50.5 percent in ADR and 47.5 percent in RevPAR for the month. Japan was the only country to report increases in both ADR (+6.0 percent) and RevPAR (+1.8 percent). Among the key markets, Beijing, by far, reported the largest decreases in both ADR (-79.0 percent) and RevPAR (-79.9 percent) due to the Olympics. Hong Kong (-22 percent) and Shanghai (-15.4 percent), which hosted the equestrian and football events, reported ADR and RevPAR declines as well.”
Among the key markets, Shanghai, China, reported the largest occupancy increase, jumping 12.6 percent to 49.6 percent. Seoul, South Korea (+7.2 percent to 83.2 percent) and Sydney, Australia (+1.3 percent to 78.4 percent), also reported occupancy increases for the month. Jakarta, Indonesia, posted the largest drop in occupancy, which fell 22.3 percent to 59.4 percent, followed by Bangkok, Thailand, with a 21.2-percent decrease to 56.0 percent.
Tokyo, Japan, experienced the largest ADR increase, up 20.7 percent to US$227.08. Three other markets also reported ADR increases: Hong Kong, China (+8.7 percent to US$78.70); Osaka, Japan (+6.0 percent to US$130.87); and Bali, Indonesia (+5.4 percent to US$147.72). Beijing led the ADR decreases, falling 79.0 to US$86.95, followed by Mumbai, India (-34.1 percent to US$163.55) and New Delhi, India (-30.9 percent to US$148.43).
Tokyo (+18.1 percent to US$162.23) and Osaka (+4.9 percent to US$104.97) were the only markets to post RevPAR increases. Beijing experienced the largest RevPAR decrease, falling 79.9 percent to US$49.26. Four other markets reported RevPAR decreases of more than 30 percent: New Delhi (-39.8 percent to US$86.84); Mumbai (-36.3 percent to US$89.47); Phuket, Thailand (-34.0 percent to US$41.51); and Bangkok (-32.4 percent to US$48.15).
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