Crisis, What Crisis? Maldives Up as AP Demand Down

Demand dropped for hotels across Asia Pacific during January, according to the latest research from STR Global. “The region saw a slightly weaker start in the new year, with a small decline in demand (-0.8%) reflected in a drop in occupancy (-3.4%)”, said STR Managing Director Elizabeth Randall. Remarkably, the strife-torn Maldives grew both occupancy and room rates during the month despite political turmoil and bad publicity.

Ms Randall commented: “The Maldives, which have been in the news lately, continue to show double-digit demand growth (+11.6%) and increases in occupancy and average room rates. Additionally to the perceived stability of the country, currency exchange rates play a key role in the island nation, with average room rates increasing 37.4% in local currency but only 15.6% in British pounds, the currency of its main source market”.

Highlights from key market performers in January 2012 in local currency (year-over-year comparisons):

• Kuala Lumpur, Malaysia (+10.0 percent to 69.9 percent), and Osaka, Japan (+10.0 percent to 74.7 percent), reported the only double-digit occupancy increases.
• Hong Kong rose 19.2 percent in ADR to HKD1,996.39, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 16.3-percent increase to IDR882,093.23.
• Three markets experienced RevPAR increases of more than 15 percent: Osaka (+18.9 percent to IDR7,832.13); Bali, Indonesia (+16.4 percent to IDR1,169,424.37); and Hong Kong (+15.9 percent to HKD1,591.90).
• New Delhi, India, fell 8.5 percent in RevPAR to INR5,148.10, reporting the largest decrease in that metric.

Performances of key countries in January 2012 (all monetary units in local currency):

*percentages are increases/decreases for 2012 vs. 2011

Ends.