LONDON—Hotels in the Asia/Pacific region experienced increases in all three key performance metrics during January 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 month virtually flat with a 0.2-percent increase to 62.0 percent, average daily rate increased 14.6 percent to US$144.85, and revenue per available room jumped 14.9 percent to US$89.74.
“This is the first time we saw a less than 1 percent occupancy increase since October 2009; however, this reflects the strong bounce the region had in 2010 more than any weakness in the market”, said Elizabeth Randall, managing director of STR Global. “Rate growth remained strong in January 2011. Looking at the markets, Australia, despite having still to struggle with unprecedented flooding in January, reported only slight declines in occupancy for the month. Hong Kong had a strong start into the new year; with occupancy levels of around 80 percent, the market’s ADR rose 24 percent in local currency. The weakening of the Hong Kong dollar against other Asian currencies continues to make the destination more attractive to visitors”.
Read the full story at:http://www.hotelnewsnow.com/articles.aspx/5019/STR-Global-Asia-Pacific-January-results