Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for March 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 13.7 percent to 67.6 percent, average daily rate increased 13.5 percent to US$130.56, and revenue per available room jumped 29.0 percent to US$88.22.
“The Asia/Pacific region is still leading the way in the global recovery”, said Elizabeth Randall, managing director of STR Global. “It has posted five consecutive months of occupancy, ADR and RevPAR increases, fueling a 23-percent RevPAR jump in the first quarter of 2010.”
Highlights from key market performers for March 2010: (year-over-year comparisons, all currency results in U.S. dollar)
* All of the region’s key markets reported increases in both occupancy and RevPAR for the month.
* Beijing, China, experienced the largest occupancy increase, rising 33.8 percent to 67.1 percent, followed by Phuket, Thailand (+32.4 percent to 77.3 percent), and Shanghai, China (+24.8 percent to 60.4 percent).
* Five markets posted ADR increases of more than 25 percent: Brisbane, Australia (+40.5 percent to US$162.22); Sydney, Australia (+36.6 percent to US$164.78); Seoul, South Korea (+29.3 percent to US$160.95); Hong Kong, China (+28.4 percent to US$216.71); and Melbourne, Australia (+26.2 percent to US$168.68).
* Osaka, Japan, posted the only decrease in any of the three key performance metrics, ending the month virtually flat with a 0.9-percent ADR decrease to US$119.50.
* Four markets reported RevPAR increases of more than 40 percent: Phuket (+55.7 percent to US$103.36); Brisbane (+53.3 percent to US$134.79); Sydney (+46.0 percent to US$140.79); and Hong Kong (+43.9 percent to US$178.76).