Comments /427 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.
28 June 2016
BREXIT costs $ 2.1 trillion SL exports to UK, $ 1 billion When Britain went to vote on the referendum, little did the world realise that in the event it went the other way, there would have been shock waves globally –...
28 June 2016
A few years ago, a leading mobile service operator in Sri Lanka had a problem when a new package was introduced by another mobile service operator with the help of the Government. Some ‘loyal’ customers suddenly switched onto the new p...
27 June 2016
Ryan Randall plays the bagpipes outside a polling station in Edinburgh, Scotland, in this Reuters picture. Brexit was fought on emotional grounds rather than on hard core economics or political realities Brit...
27 June 2016
Hyundai strikes back with mega ship orders Hyundai Merchant Marine said it had reached an agreement with ship-owners to secure lower charter rates; a major breakthrough in its financial restructuring that enables state support for the purch...
Britain’s newspapers take sides in EU referendum debate
Britain and Brexit: What the rest of the world says
Tracing the global market thread that could be unravelled by Brexit
Soros says pound fall after Brexit would be bigger, more disruptive than ‘Black Wednesday’