While Asia Pacific, the Americas and Europe all saw hotel performance gains in March, those registered for Middle East/Africa were the most dramatic, according to new data from STR Global.
In March 2012, occupancy in Middle East/Africa jumped 14.6% to 65.1%, its ADR increased 3.3% to US$175.33 and its RevPAR jumped 18.4% to US$114.07.
“During March, the hotels across Middle East, Northern Africa and Southern Africa reported improving occupancy levels,” said Elizabeth Randall, managing director of STR Global. “We report a 71% increase to 19.6% in Northern Africa’s occupancy, the absolute occupancy is 47%. The growth in occupancy is influencing RevPAR, however, there is continued pressure on average room rates. In other parts of the region, signs of stabilization can be seen in the strong RevPAR improvements in Bahrain, Lebanon and Jordan. Additional increases of more than 20% were reported by Saudi Arabia and Oman, as well.”
Highlights among the region’s key markets for March 2012 include (year-over-year comparisons, all currency in U.S. dollars):
- Manama, Bahrain, jumped 112.1% in occupancy to 45.1%, reporting the largest increase in that metric, followed by Cairo, up 96.9% to 45.7% and Amman, Jordan, up 54.6% to 80.9%
- Abu Dhabi, United Arab Emirates, reported the largest occupancy decrease, falling 6.9% to 66.2%, followed by Doha, Qatar, with a 6.5% decrease to 62.8%
- Manama increased 14.6% in ADR to US$217.34, achieving the largest increase in that metric
- ADR in Cape Town, South Africa, decreased 8.5% to US$137.35 and in Cairo it decresased 7.9% to US$107.89, the largest ADR decreases for the month
Three markets achieved RevPAR increases of more than 30%: Manama, up 143.1% to US$97.96, Cairo, up 81.3% to US$49.26, Amman, up 54.7% to US$118.81 and Beirut, up 42.1% to US$122.83.
Abu Dhabi reported the only double-digit RevPAR decrease, falling 11.5% to US$109.02.
In the first quarter of 2012 the region’s occupancy rose 8.9% to 60.9%, its ADR was flat with a 0.9% increase to US$175.97 and its RevPAR increased 9.9% to US$107.23.
Asia Pacific
In year-over-year measurements, the Asia Pacific region’s occupancy increased 4.4% to 69.4%, its ADR increased 4.8% to US$145.64 and its RevPAR was up 9.4% to US$101.01.
“A year has passed since the tragic natural disasters occurred in Japan,” said Randall. “The country’s hotel performance started to improve over recent months and reported a bounce back with Japan’s RevPAR for the month increasing 38% in local currency as compared to March last year.”
In the first quarter of the year the region’s occupancy rose 1.8% to 65.4%, its ADR was up 5.2% to US$147.16 and its RevPAR increased 7.1% to US$96.26.
“Looking at the first quarter performance, the majority of countries across the region continue to show improvements in ADR and RevPAR,” said Randall. “One exception is India, which reported declining performance for all key indicators. This trend started in the middle of last year and reflects the increases in supply and slow absorption rates across the country.”
Highlights from key market performers in March 2012 in local currency (year-over-year comparisons):
- Tokyo achieved the largest occupancy increase, rising 47.6% to 84.7%, followed by Shanghai, up 11.5% to 64% and Hanoi, Vietnam (+11.0% to 76.9)
- New Delhi, down 7.4% to 68.8% and Ho Chi Minh City, Vietnam, down 6.5% to 71.7% reported the largest occupancy decreases
- Seoul, South Korea, which benefited from the second Nuclear Security Summit in March, jumped 22.1% in ADR to 231,577.48 won (US$202.56), reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 18.8% increase to 934,968.80 rupiah (US$101.33)
- Osaka, Japan, fell 9.9% in ADR to ¥10,475.66 (US$128.56), posting the largest decrease in that metric
Four markets experienced RevPAR increases of more than 20%: Tokyo, up 56.9% to ¥12,174.34 (US$149.40), Seoul, up 25.8% to 185,895.42 won (US$162.60), Taipei, Taiwan, up 23.0% to T$4,798.63 (US$162.02) and Jakarta, up 20.8% to 691,744.20 rupiah (US$74.97).
New Delhi fell 12.2% in RevPAR to Rs6,044.08 (US$114.43), reporting the only double-digit decrease in that metric.
Highlights from key market performers for March 2012 in U.S. dollars (year-over-year comparisons):
- Seoul rose 18.9% in ADR to US$204.02, achieving the largest increase in that metric, followed by Beijing with a 15.2% increase to US$117.39
- Mumbai fell 17.5% in ADR to US$160.01, posting the largest decrease in that metric
Four markets experienced RevPAR increases of more than 20%: Tokyo, up 58.0% to US$147.96, Taipei, up 22.7% to US$162.34, Seoul, up 22.5% to US$163.77 and Beijing, up 20.6% to US$87.33.
New Delhi reported the largest RevPAR decrease, falling 23.5% to US$116.05.
Americas
The Americas region reported a 3.8% increase in occupancy to 63.7%, a 3.5% gain in average daily rate to US$109.06 and a 7.5% jump in revenue per available room to US$69.49.
Among the region’s key markets, São Paulo, up 6.4% to 70.8% and Vancouver, British Columbia, up 6.4% to 65% reported the largest occupancy increases for the month. Santiago, Chile, fell 1.5% in occupancy to 83.3%, posting the largest decrease in that metric, followed by Mexico City with a 1% decrease to 66.6%.
Santiago experienced the largest ADR increase, rising 25.0% to US$211.97. Rio de Janeiro, Brazil, fell 13.5% in ADR to US$227.22, reporting the only double-digit decrease in that metric.
Five markets achieved double-digit RevPAR increases: Santiago, up 23.1% to US$176.57, São Paulo, up 14.1% to US$106.35, San Francisco, up 11.4% to US$117.82, Chicago, up 11.1% to US$70.73 and New York City, up 10.4% to US$176.88. Rio de Janeiro, down 8.7% to US$189.39 and Panama City, down 6% to US$80.23 reported the largest RevPAR decreases in March.
In first quarter 2012 the region’s occupancy rose 3.6% to 57.1%, its ADR was up 3.7% to US$106.83, and its RevPAR increased 7.5% to US$60.95.
Europe
The European hotel industry posted mostly positive results in year-over-year metrics.
“After several weak months of moderate rate growth in the European hotel market, March reported a 3.0% ADR increase, yet occupancy for the month remained flat,” said Randall. “The recent reprieve in the economic environment across Europe seems to as well apply to the Europe hotel market as we are seeing signs of improvement and subtle growth.”
Highlights from key market performers for March 2012 include (year-over-year comparisons:
- Reykjavik, Iceland, rose 17.9% in occupancy to 66.8%, reporting the largest increase in that metric, followed by Tallinn, Estonia, up 17.5% to 52.1%, and Prague, up 12% to 60.6%
- Vienna, Austria, posted the largest occupancy decrease, falling 8.7% to 67.5%
Two markets experienced double-digit ADR increases: Tel Aviv, Israel, up 16.4% to €183.12 (US$241), and Paris, up 13.5% to €235.22 (US$309.57).
Frankfurt, Germany, down 10.7% to €117.67 (US$154.87) and Vilnius, Lithuania, down 10.4% to €50.13 (US$65.98), reported the largest ADR decreases for the month.
Three markets achieved RevPAR increases of more than 15%: Tallinn, up 28.4% to €31.54 (US$41.51), Prague, up 17.1% to €40.11(US$52.79) and Reykjavik, up 16.7% to €37.99 (US$50).
Vienna dropped 17.4% in RevPAR to €66.53 (US$87.56), reporting the largest decrease in that metric.
In the first quarter of 2012, the region reported a 0.8% increase in occupancy to 57.5%, a 1.7% rise in ADR to €97.45 (US$128.25) and a 2.5% increase to €56.07 (US$73.79).