Asia/Pacific region performance results for October 2009
“Coming into the last quarter of 2010, which compares to very weak comparables at the end of 2008, all sub-regions across Asia/Pacific saw occupancy stabilising in the month of October, helping to soften RevPAR decline by only 3.1 percent overall”, said Elizabeth Randall, managing director of STR Global. “However great it is to see monthly improvements, hotels across the region have lost US$22.04 in RevPAR value year-to-date compared to year-to-October 2008. The star performers in terms of monthly RevPAR growth across the region are Australia, Guam, Indonesia, Malaysia, New Zealand and South Korea, which benefited partly due to a weak U.S. Dollar exchange rate”.
Among the key markets in the region, New Delhi, India, reported the largest occupancy increase, up 14.7 percent to 77.5 percent, followed by Kuala Lumpur, Malaysia (+12.4 percent to 74.1 percent), and Sydney, Australia (+11.9 percent to 88.0 percent). Two markets posted double-digit occupancy decreases: Manila, Philippines (-11.3 percent to 63.4 percent), and Bali, Indonesia (-10.8 percent to 77.1 percent).
Melbourne, Australia (+28.5 percent to US$160.78), and Sydney (+28.5 percent to US$161.24) reported the largest ADR increases. Two other markets also reported ADR increases of more than 20 percent: Brisbane, Australia (+23.2 percent to US$153.32), and Seoul, South Korea (+22.7 percent to US$170.59). Phuket, Thailand (-22.8 percent to US$72.72), Shanghai, China (-22.2 percent to US$117.22), and Beijing, China (-22.1 percent to US$95.68), reported the largest ADR decreases.
Sydney experienced the largest RevPAR increase, jumping 43.8 percent to US$141.84. Three markets reported RevPAR decreases of more than 20 percent: Phuket (-28.2 percent to US$42.47); Shanghai (-25.2 percent to US$66.82); and Beijing (-20.5 percent to US$60.56).
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