STR Reports Asia Pacific Hotel Statistics for October 2010

Tuesday, 30 November 2010 00:01 - - {{hitsCtrl.values.hits}}

According to data compiled by STR Global, hotels in the Asia Pacific region experienced increases in all three key performance metrics for October 2010 when reported in U.S. dollars.

In year-on-year measurements, the Asia Pacific region’s OR rose 7% to 71.4%, ADR increased 16.4% to US$146.26, and RevPAR jumped 24.5% to US$104.49.

“With 10 months gone this year, the Asia Pacific region continues to recover strongly in October with double-digit ADR and RevPAR growth,” said Elizabeth Randall, managing director of STR Global. “The high demand for hotels was fueled by the region’s strong economic recovery.”

Highlights from key market performers for October 2010: (year-on-year comparisons, all currency in U.S. dollars)

Shanghai, China, achieved the largest occupancy increase, rising 30% to 74%, followed by Beijing, China, with a 14.5% increase to 72.1%.

Three key markets experienced occupancy decreases: Bangkok, Thailand (-14% to 54.4%); New Delhi, India (-1.6% to 73.1%); and Sydney, Australia (-1% to 86.5%).

Three markets reported ADR increases of 20% or more: Shanghai (+43.3% to US$159.73); Hong Kong, China (+33.9% to US$253.35); and Seoul, South Korea (+20% to US$195.43).

Shanghai jumped 86.3% in RevPAR to US$118.13, reporting the largest increase in that metric. Three other markets experienced RevPAR increases of more than 30%: Hong Kong (+39.5% to US$213.62); Jakarta, Indonesia (+33% to US$66.62); and Beijing (+31.9% to US$74.81).

Bangkok was the only market to report a RevPAR decrease, falling 8% to US$52.87.