Asian hotels see big drop in sales
Hotels in the Asia Pacific region have reported double-digit decreases for all three key performance metrics for January 2009, according to data compiled by STR Global. Occupancy in the Asia Pacific region dropped 18.3% to 54.3%; ADR declined 12.2% to US$125.31; and RevPAR fell 28.3% to US$68.09.Highlights from key individual markets in the Asia Pacific region include (percentages are January 2009 vs. January 2008, data in US dollars):
? Three key markets posted increases in ADR and RevPAR: Tokyo rose 25.9% to US$238.91 in ADR and 12.4% to US$144.19 in RevPAR; Bali rose 28% to US$142.65 in ADR and 17.5% to US$105.87 in RevPAR; and Osaka, Japan, reported a 16.4% increase in ADR and an 11.6% rise in RevPAR.
? Seoul, South Korea, reported an increase in occupancy, rising 5.2% to 73.6%.
? Four markets reported decreases in occupancy of less than 5%. Those markets include: Brisbane, Australia (-3.9%); Osaka, Japan (-4.1%); Sydney, Australia (-4.2%); and Melbourne, Australia (-4.3%).
? Three markets posted large decreases in ADR for the month: Seoul (-33.4%); New Dehli, India (-34.2%); and Mumbai, India (-37.7%).