Hotels in the Asia Pacific region experienced increases in all three key performance metrics during February, according to data compiled by STR Global.
In year-over-year measurements, Asia Pacific occupancy rose 3.3% to 63.5%, while ADR increased 13.9% to US$147.23 and RevPAR jumped 17.7% to US$93.49.
"The devastating natural disasters and the tragic losses of life and livelihoods currently dominate the region," says Elizabeth Randall, managing director of STR Global. "In local currency, Australia's hotels reported just a 0.1% RevPAR increase for February and a 1.5% increase for the first two months 2011. New Zealand reported a 2.4% RevPAR increase for the month and 0.8% year-to-date. Both countries saw drops in occupancy with slight average rate growth for the month and year-to-date. Japan, prior the tragic events in March, reported a 6.8% RevPAR increase for February and a 4.8% increase for the first two months this year, driven by improvements in occupancy and average rate."
Beijing, experienced the region’s largest occupancy increase, rising 13.8% to 45.8%, followed by Shanghai, with an 11.3% increase to 40%.
Seoul fell 4.9% in occupancy to 72.4%, reporting the largest decrease in that metric.
Hong Kong achieved the largest ADR increase, rising 23.5% to HK$1,686.08. New Delhi posted the only ADR decrease for the month, falling 1.2% to 10,073.64 rupees.
Four markets achieved RevPAR increases of more than 25%: Hong Kong (up 29.5% to HK$1,312.70), Shanghai (up 26.5% 302.75 yuan), Jakarta (up 26.4% to 544,064.03 rupiah) and Beijing (up26% to 269.98 yuan). Melbourne fell 2.1% in RevPAR to A$135.74, reporting the largest decrease in that metric.
In year-over-year measurements, Asia Pacific occupancy rose 3.3% to 63.5%, while ADR increased 13.9% to US$147.23 and RevPAR jumped 17.7% to US$93.49.
"The devastating natural disasters and the tragic losses of life and livelihoods currently dominate the region," says Elizabeth Randall, managing director of STR Global. "In local currency, Australia's hotels reported just a 0.1% RevPAR increase for February and a 1.5% increase for the first two months 2011. New Zealand reported a 2.4% RevPAR increase for the month and 0.8% year-to-date. Both countries saw drops in occupancy with slight average rate growth for the month and year-to-date. Japan, prior the tragic events in March, reported a 6.8% RevPAR increase for February and a 4.8% increase for the first two months this year, driven by improvements in occupancy and average rate."
Beijing, experienced the region’s largest occupancy increase, rising 13.8% to 45.8%, followed by Shanghai, with an 11.3% increase to 40%.
Seoul fell 4.9% in occupancy to 72.4%, reporting the largest decrease in that metric.
Hong Kong achieved the largest ADR increase, rising 23.5% to HK$1,686.08. New Delhi posted the only ADR decrease for the month, falling 1.2% to 10,073.64 rupees.
Four markets achieved RevPAR increases of more than 25%: Hong Kong (up 29.5% to HK$1,312.70), Shanghai (up 26.5% 302.75 yuan), Jakarta (up 26.4% to 544,064.03 rupiah) and Beijing (up26% to 269.98 yuan). Melbourne fell 2.1% in RevPAR to A$135.74, reporting the largest decrease in that metric.