Asia Pacific Hotel Rebound Continues

Another strong performance from hotels in most major Asia Pacific markets during October, according to STR Global.  Regional occupancy rose 7% to 71.4%, average daily rate increased 16.4% to US$146.26, and revenue per available room jumped 24.5% to US$104.49.

 “With 10 months gone this year, the Asia/Pacific region continues to recover strongly in October with double-digit ADR and RevPAR growth”, said Elizabeth Randall, managing director of STR Global. “The high demand for hotels was fueled by the region’s strong economic recovery”.  

Highlights from key market performers for October 2010: (year-over-year comparisons, all currency in U.S. dollars)

  • Shanghai, China, achieved the largest occupancy increase, rising 30.0 percent to 74%, followed by Beijing, China, with a 14.5% increase to 72.1%.
  • Three key markets experienced occupancy decreases: Bangkok, Thailand (-14.0% to 54.4%); New Delhi, India (-1.6% to 73.1%); and Sydney, Australia (-1.0 percent to 86.5%).
  • Three markets reported ADR increases of 20%: Shanghai (+43.3% to US$159.73); Hong Kong, China (+33.9% to US$253.35); and Seoul, South Korea (+20% to US$195.43).
  • Shanghai jumped 86.3% in RevPAR to US$118.13, reporting the largest increase in that metric. Three other markets experienced RevPAR increases of more than 30%: Hong Kong (+39.5% to US$213.62); Jakarta, Indonesia (+33% to US$66.62); and Beijing (+31.9% to US$74.81).
  • Bangkok was the only market to report a RevPAR decrease, falling 8% to US$52.87.

 Performances of key countries in October 2010 (all monetary units in local currency):

Country

Occupancy

% change

ADR

% change

RevPAR

% change

Australia

79.4%

+1.6%

AUD176.12

+4.5%

AUD139.84

+6.1%

China

68.2%

+13.1%

CNY894.10

+18.8%

CNY609.57

+34.3%

India

63.9%

+6.0%

INR7075.84

+3.9%

INR4523.29

+10.1%

Japan

78.5%

+3.7%

JPY13048.32

+0.1%

JPY10245.40

+3.8%

Singapore

84.4%

+4.4%

SGD277.30

+20.3%

SGD233.94

+25.6%

*percentages are increases/decreases for October 2010 vs. October 2009

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