STR Global posts September 2010 results for Asia/Pacific region
LONDON—Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for September 2010 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy rose 7.4 percent to 66.9 percent, average daily rate increased 11.0 percent to US$135.54, and revenue per available room jumped 19.2 percent to US$90.71.
“The September numbers were eagerly anticipated results as they should give us a good indication how strong the RevPAR recovery across the region really is”, said Elizabeth Randall, managing director of STR Global. “September 2009 was the first month last year in which hoteliers reported only single-digit declines compared to the prior year. Therefore it was interesting to see if the double-digit growth we have seen so far this year would continue this month”.
“September 2010 is now the 10th month with around 20 percent RevPAR growth for Asia/Pacific”, Randall continued. “One particularly strong market is Shanghai, China. The World Expo in Shanghai, which broke previous Expo attendance records and which ends in October, boosted Shanghai’s year-to-date RevPAR performance 64 percent compared to the same timeframe last year”.
Highlights from key market performers for September 2010: (year-over-year comparisons, all currency in U.S. dollars)
• Shanghai achieved the largest increases in all three key performance metrics. The market’s occupancy rose 29.5 percent to 73.3 percent, ADR increased 34.2 percent to US$142.64, and RevPAR jumped 73.8 percent to US$104.50.
• Jakarta, Indonesia, ended the month with a 22.5-percent occupancy increase to 58.2 percent.
• Two markets posted occupancy decreases: Bangkok, Thailand (-1.5 percent to 53.7 percent), and Seoul, South Korea (-0.6 percent to 83.7 percent).
• Two markets, excluding Shanghai, reported ADR increases of more than 20 percent: Kuala Lumpur, Malaysia (+21.7 percent to US$113.24), and New Delhi, India (+20.2 percent to US$186.77).
• Along with Shanghai, Jakarta (+45.5 percent to US$46.96) and Kuala Lumpur (+39.4 percent to US$71.38) reported largest RevPAR increases for the month.
Performances of key countries in September 2010 (all monetary units in local currency):
*percentages are increases/decreases for September 2010 vs. September 2009