LONDON—Hotels in the Asia/Pacific region experienced positive results in the three key performance metrics in 2011 when reported in U.S. dollars, according to data compiled by STR Global.
In year-over-year measurements, the Asia/Pacific region’s occupancy ended the year virtually flat with a 0.2-percent increase to 66.8 percent, its average daily rate increased 9.5 percent to US$140.44 and its revenue per available room was up 9.8 percent to US$93.84.
“Despite the impact of natural disasters, Asia/Pacific reported the highest RevPAR (US$94) and highest average room rate (US$140) in 2011 for the last seven years (since 2005)”, said Elizabeth Randall, managing director of STR Global. “Occupancy levels were on par with last year and lower than 2007 levels reflecting the increasing room stock across the region. Room supply grew by 3.3 percent compound annual growth rate between 2005 and 2010, supply growth fell below the three percent mark in 2011. We are expecting to see performance rebounds in 2012 depending on the avoidance of a wider cooling of the world economy. Our latest Market Forecast, released in November, predicts the performance of Beijing, Hong Kong, Singapore and Sydney. For all four cities we currently expect RevPAR in local currency to increase between 2.8 percent (Sydney) and 9 percent (Singapore)”.
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