Asia Pacific hotel enjoy positive results in March
According to data compiled by STR Global, hotels in the Asia Pacific region experienced positive results in the three key performance metrics for March 2012 when reported in US dollars.
In year-on-year measurements, the Asia Pacific region’s occupancy increased 4.4% to 69.4%, ADR increased 4.8% to US$ 145.64 and RevPAR was up 9.4% to US$ 101.01.
“A year has passed since the tragic natural disasters occurred in Japan,” said STR Global Managing Director Elizabeth Randall, adding, “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. The biggest RevPAR growth was reported by Sendai (118%) and Yokohama (85%), whilst Osaka reported a 7% decline compared to last year.” In the first quarter of the year the region’s occupancy rose 1.8% to 65.4%, ADR was up 5.2% to US$ 147.16 and 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,” Randall added. “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-on-year comparisons):
=Tokyo, Japan, achieved the largest occupancy increase, rising 47.6% to 84.7%, followed by Shanghai, China (+11.5% to 64.0%), and Hanoi, Vietnam (+11.0% to 76.9).
=New Delhi, India (-7.4% to 68.8%), and Ho Chi Minh City, Vietnam (-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 KRW 231,577.48, reporting the largest increase in that metric, followed by Jakarta, Indonesia, with a 18.8% increase to IDR 934,968.80.
=Osaka, Japan, fell 9.9% in ADR to JPY 10,475.66, posting the largest decrease in that metric.
=Four markets experienced RevPAR increases of more than 20%: Tokyo (+56.9% to JPY 12,174.34); Seoul (+25.8% to KRW 185,895.42); Taipei, Taiwan (+23.0% to TWD 4,798.63); and Jakarta (+20.8% to IDR 691,744.20).
=New Delhi fell 12.2% in RevPAR to INR 6,044.08, reporting the only double-digit decrease in that metric.
Highlights from key market performers for March 2012 in US dollars (year-on-year comparisons):
=Seoul rose 18.9% in ADR to US$ 204.02, achieving the largest increase in that metric, followed by Beijing, China, 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 (+58.0% to US$ 147.96); Taipei (+22.7% to US$ 162.34); Seoul (+22.5% to US$ 163.77); and Beijing (+20.6% to US$ 87.33).
=New Delhi reported the largest RevPAR decrease, falling 23.5% to US$ 116.05.