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STR Global posts Asia/Pacific region hotel performance report for January 2012

Friday, March 2, 2012, 11:00 Hrs  [IST]

According to data compiled by STR Global, hotels in the Asia/Pacific region experienced mixed results in the three key performance metrics for January 2012 when reported in USD. In year-over-year measurements, the region’s occupancy reported a 3.4 per cent decrease to 60.0 per cent, its average daily rate (ADR) increased 9.8 per cent to USD 152.92 and its revenue per available room (RevPAR) was up 6.0 per cent to USD 91.81.

“The region saw a slightly weaker start in the new year, with a small decline in demand (-0.8 per cent) reflected in a drop in occupancy (-3.4 per cent). Average rate growth helped to boost RevPAR in the region. The Maldives, which have been in the news lately, continue to show double digit demand growth (+11.6 per cent) 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 per cent in local currency but only 15.6 per cent in British pounds, the currency of its main source market,” said Elizabeth Randall, Managing Director, STR Global.  

Highlights from the region's key market performers in January 2012 in local currency (year-over-year comparisons):
  • Kuala Lumpur, Malaysia (+10.0 per cent to 69.9 per cent), and Osaka, Japan (+10.0 per cent to 74.7 per cent), reported the only double-digit occupancy increases.
  • Hong Kong rose 19.2 per cent in ADR to HKD1,996.39, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 16.3 per cent increase to IDR882,093.23.
  • Three markets experienced RevPAR increases of more than 15 per cent, Osaka (+18.9 per cent to IDR7,832.13); Bali, Indonesia (+16.4 per cent to IDR1,169,424.37); and Hong Kong (+15.9 per cent to HKD1,591.90).
  • New Delhi, India, fell 8.5 per cent 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):

% change
% change
% change
INR 4,340.70
SGD 231.46

*percentages are increases/decreases for 2012 vs. 2011

Highlights from key market performers for January 2012 in USD (year-over-year comparisons):
  • Hong Kong achieved the largest ADR increase, rising 19.7 per cent to USD 257.37, followed by Jakarta (+17.9 per cent to USD 97.82) and Osaka (+15.8 per cent to USD136.89).
  • New Delhi decreased 15.8 per cent in ADR to USD 158.25.
  • Four markets experienced RevPAR increases of more than 15 per cent: Osaka (+27.5 per cent to USD 102.24); Bali (+18.0 per cent to USD 129.69); Hong Kong (+16.4 per cent to USD 205.22); and Jakarta (+16.3 per cent to USD 60.34).

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