The Japanese hotel market is bouncing back from the March tsunami while other Asia Pacific destinations reported steady occupancies and rising room rates during August. “We see almost equal demand and supply growth across Asia Pacific,” said STR Global Managing Director Elizabeth Randall.
“Average room rates continue to improve against the prior year. Looking at Japan, five months post the tragic events in March, hoteliers reported 81% occupancy, matching August 2010 results. Demand is returning month on month and we would expect it to soon grow again against last year”.