Asian hotel rates continue to rise
Hotels rates in the Asia Pacific region continued to climb in November 2011. According to the latest data from STR Global, the region’s hotels experienced a 4.7% rise in average daily rates (ADR) last month to US$143. This was backed up by a 2.1% year-on-year rise in occupancy, which averaged 71.9%, pushing revenue per available room (revPAR) up 6.9% to US$103.
While this revPAR is not as high as the Middle East & Africa region (US$121), it far outstrips the levels achieved in the Americas (US$58) and Europe (US$86).
“Natural disasters dominated the news and affected hotel performance in the region over the past 11 months,” said Elizabeth Randall, Managing Director of STR Global. “Despite this, demand across the region (+2.9% year-to-date) increased each month apart from March (-1.0%). With hotel performance continuing to pick up in November, year-to-date performance showed a 10.4% revPAR increase to US$94.”
Hong Kong saw the region’s largest ADR growth, rising 21.4% year-on-year to US$280 in November 2011. This was followed by Jakarta (+18.6% to US$96) and Bali (+18.1% to US$146). New Delhi (-22.0% to US$176), with its large influx of room supply, and flood-hit Bangkok (-20.9% to US$79) saw the most significant ADR declines.
Four markets achieved revPAR increases of more than 20%: Bali (+28.2% to US$107), Jakarta (+26.4% to US$80), Beijing (+23.2% to US$80) and Hong Kong (+22.9% to US$253).