Comments /445 Views / Friday, 27 April 2012 00:01
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.
29 March 2017
President Maithripala Sirisena A Tamil saying goes thus: “Stealing the neighbour’s chicken for the mother’s almsgiving.” President Sirisena in his total betrayal of the Muslims did just that with on...
29 March 2017
It is well known that businesses have to constantly evolve to keep pace with the changes around them. The rise of digital technologies is disrupting the way we work and live. Technologies that didn’t exist till about a decade ago have now be...
28 March 2017
The geopolitical implications of advancing automation are quite inimical to workers in developing economies like Sri Lanka, whose comparative advantage lies essentially in “embodied labour”, which comprises cheap goods made by low-wage...
28 March 2017
“Gotabaya can build a new urbanised technocratic civilisation which is the 21st century equivalent of the magnificent civilisations that this island once built; civilisations that put us ahead of the rest of South Asia, until the Tamil invad...
Loss to EPF in Treasury bond investments, applicability of Trust Ordinance provisions and Justice Minister’s role
Development impact of the new technology revolution
Enhancing the trade and competitiveness potential of Sri Lanka’s private sector
A robust society?
BMICH remembers its founder on International Women’s Day
HNB salutes indomitable spirit and dedication of ‘women power’
LAUGFS Eco Sri Launches ‘YOU’ in celebration of International Women’s Day
Niroshan on Govt.’s growth, transparency and visionary policies at CSE Sydney forum