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STR Global posts June 2010 results for Asia/Pacific region

STR Global posts June 2010 results for Asia/Pacific region

Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for June 2010 when reported in U.S. dollars, according to data compiled by STR Global.

In year-over-year measurements, the Asia/Pacific region’s occupancy rose 14.5 percent to 63.9 percent, average daily rate increased 10.8 percent to US$121.83, and revenue per available room jumped 27.0 percent to US$77.83.

“Asia Pacific and its sub regions were the winners of the regions across the first half of this year”, said Elizabeth Randall, managing director of STR Global. All its sub regions reported growth in all three performance indicators for the first six months driven by overall improving economic conditions and rising demand.

“The year-to-date demand (occupied rooms) was unsurprisingly up on year-to-date 2009 (+16 percent), but also was up on year-to-date 2008 (+2 percent) and just up on pre-crisis levels of the first six months of 2007 (+0.4 percent). With an overall steady increase of new supply, the recovered demand creates a solid base for the region to continue its RevPAR recovery for the rest of the year”.

Highlights from key market performers for June 2010: (year-over-year comparisons, all currency in U.S. dollars)
* With a boost from the Expo 2010, held 1 May-31 October 2010, Shanghai, China, achieved the largest increases in all three key performance metrics: Occupancy rose 60.3 percent to 78.2 percent, ADR was up 30.5 percent to US$135.51, and RevPAR soared 109.2 percent to US$105.96.
* Three markets, besides Shanghai, reported occupancy increases of more than 20 percent: Beijing, China (+33.5 percent to 66.3 percent); Hong Kong, China (+26.9 percent to 77.2 percent); and Osaka, Japan (+22.0 percent to 72.7 percent).
* Bangkok, Thailand, posted the largest occupancy decrease, falling 25.8 percent to 34.9 percent. Phuket, Thailand, ended the month virtually flat with a 0.2-percent decrease to 36.3 percent.
* Hong Kong (+21.8 percent to US$180.08) and Jakarta, Indonesia (+21.5 percent to US$81.21), reported the largest ADR increases behind Shanghai.
* Bangkok posted the only ADR decrease, falling 7.6 percent to US$82.16.
* Excluding Shanghai, four markets ended the month with RevPAR increases of 30 percent or more: Hong Kong (+54.6 percent to US$139.08); Beijing (+41.2 percent to US$63.52); Osaka (+31.5 percent to US$81.78); and Bali, Indonesia (+30.1 percent to US$103.47).
* Bangkok fell 31.4 percent in RevPAR to US$28.68, reporting the largest decrease in that metric.