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Asia Pacific continues to lead RevPAR recovery

ASIA PACIFIC Hotels in the Asia Pacific region experienced increases in all three key performance metrics for November, according to data from STR Global.

In year-over-year measurements, the Asia Pacific region’s occupancy rose 2.8% to 70%, while ADR increased 12% to US$142.47 and RevPAR jumped 15.2% to US$99.70.

“Throughout 2010, Asia Pacific has been leading the RevPAR recovery globally,” says Elizabeth Randall, managing director of STR Global. “It was the powerhouse bouncing back strongly from the downturn last year. RevPAR across the region has grown for 13 months since November 2009. As we saw the first positive RevPAR growth in November 2009, the monthly RevPAR growth this month is the lowest growth rate so far this year, 15.2%. The year-to-date occupancy topped the year-to-November 2008 occupancy by 0.9 percentage points, and average room rates are still US$7.62 behind the year-do-date results in 2008.

“Looking at key cities across Asia Pacific, Bangkok is the only one reporting year-to-date RevPAR declines, still suffering from the political unrest in April and May,” Randall says. “The World Expo 2010 brought the highest year-on-year RevPAR growth to Shanghai.”

Jakarta reported the region’s only double-digit occupancy increase, rising 14% to 78%. Mumbai fell 9.7% in occupancy to 64.7%, experiencing the largest decrease in that metric.

Four markets achieved ADR increases of more than 20%: Hong Kong (27.1% to US$239.39), Brisbane (26.3% to US$196.75), Shanghai (20.4% to US$135.46) and Seoul (20.2% to US$190.96).

Three markets reported RevPAR increases of more than 30%: Hong Kong (36.7% to US$213.39), Brisbane (36.4 to US$173.32) and Jakarta (34.4% to US$66.31).

In New Delhi, RevPAR fell 5.6% to US$166.60, reporting the largest decrease in that metric, followed by Mumbai, with a 4.9% decrease to US$129.49.

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