STR Global posts August 2010 results for Asia/Pacific region
“The double-digit RevPAR growth across all sub-regions in Asia/Pacific continued in August, underlining the market’s leading position in RevPAR recovery”, said Elizabeth Randall, managing director of STR Global. “The continued strength in economic growth coupled with world events in selected destinations (i.e. the first-ever Youth Olympics in Singapore) brought even more attention to the region in August.
“Where last year pictures of ship upon ship sitting idle in Singapore harbour made the news, this year Singapore presented with Marina Bay Sands new attractions and hotels to the market and with the economy picking up, Singapore saw double-digit monthly improvements in demand this year resulting in occupancy levels of around and over 80% this year”, said Randall. “Not to mention that this demand fuelled improvements in average daily rate”.
Highlights from key market performers for August 2010: (year-over-year comparisons, all currency in U.S. dollars)
- Shanghai, China, reported the largest occupancy increase, rising 40.2 percent to 69.5 percent, followed by Beijing, China, with a 14.4 percent increase to 66.6 percent.
- Four markets reported occupancy decreases: Kuala Lumpur, Malaysia (-9.8 percent to 64.4 percent); Bangkok, Thailand (-8.7-percent to 51.4 percent); Osaka, Japan (-4.2 percent to 79.2 percent); and Phuket, Thailand (-3.3 percent to 56.4 percent).
- Hong Kong, China, achieved the largest ADR increase, rising 31.4 percent to US$180.75, followed by Shanghai (+30.0 percent to US$123.96) and Bali, Indonesia (+17.5 percent to US$169.92).
- Shanghai jumped 82.4 percent in RevPAR to US$86.21, reporting the largest increase in that metric. Four other markets posted RevPAR increases of more than 20 percent: Hong Kong (+34.8 percent to US$145.92); Brisbane, Australia (+23.1 percent to US$134.98); Beijing (+22.1 percent to US$58.78); and Manila, Philippines (+20.4 percent to US$74.51).
- Bangkok reported the largest RevPAR decrease, falling 5.4 percent to US$45.23, followed by Phuket (-1.9 percent to US$45.63) and Osaka (-0.9 percent to US$103.17).
Konstanze Auernheimer (STR Global)
Director of Marketing
Phone: +44 (0)207 922 1961
About STR Global
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to thehotel 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, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.