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):
Country |
Occupancy |
% change |
ADR |
% change |
RevPAR |
% change |
Australia |
72.3% |
+4.7% |
AUD175.61 |
+0.1% |
AUD126.89 |
+4.8% |
India |
63.0% |
-1.2% |
INR6,885.80 |
-4.2% |
INR4,340.70 |
-5.4% |
Singapore |
80.4% |
+1.5% |
SGD287.92 |
+4.9% |
SGD231.46 |
+6.5% |
*percentages are increases/decreases for 2012 vs. 2011
Ends.
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