Demand For Hotel Rooms Slides in Asia Pacifc

OCCUPANCIES fell byaround 4% but average room rates rose slightly across Australia’s major hotel markets during December, causing RevPAR to slip 1.4%, according to latest research from STR Global. And it was a great result … comparatively speaking, of course. The economic crisis appears to have hit Asia much harder, where demand has slumped dramatically. STR Global says occupancy has fallen by 28% in central and south Asia, 18% in northeast Asia and 19% in southeast Asia. Travel Trends: February 10, 2009

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