Comments /440 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.
8 December 2016
John Dewey said that “every great advance in science has come from a new audacity of imagination” and these acts of imagination have to come from researchers. The numbers for Sri Lanka appear to be really worrying as the critica...
7 December 2016
Considering the low reliability of the Norochcholai coal-fired power plant, Sri Lanka could face energy and capacity shortages in 2018-2019 and under drought conditions even with planned plant additions ...
7 December 2016
Whilst fiscal adjustments are in disarray, the Central Bank which is supposed to conduct the country’s monetary policy independently is being increasingly subject to political influence, according to recent newspaper rep...
7 December 2016
A tea cultivation in Nuwara Eliya – Pic by Shehan Gunasekara It is time to move away from traditional subsidy based agricultural value chains and look for more efficient methods. Some organisations are a...
Mahinda warns of social unrest if China carries out its plan in Hambantota
Attack on non-conventional renewable energy: Burning the house to kill the lice!
Phantoms of Mahinda Rajapaksa and Sri Lanka’s reign of terror
SriLankan Airlines: Tumultuous landing and proper PPP take-off