STR Posts April 2009 Results for Asia/Pacific Region
MAY 28, 2009 - Hotels in the Asia/Pacific region reported double-digit decreases when reported in U.S. dollars for all three key performance metrics for April 2009, according to data compiled by STR Global.
The Asia/Pacific region's occupancy dropped 14.3 percent to 59.2 percent; average daily rate declined 20.1 percent to US$117.10; and revenue per available room fell 31.5 percent to US$69.36.
'The Asia/Pacific region, along with the Middle East, has come into a similar cyclical movement as Europe and North America-but there are a few highlights still,' said James Chappell, managing director of STR Global. 'Bali, Indonesia, increased 21.5 percent in RevPAR (in local currency), and Seoul, South Korea, reported a 16.3-percent increase (in local currency) in the measure.'
Among the key markets, Seoul, South Korea, was the only market to report an increase in occupancy, which was up 10.5 percent to 83.3 percent. Bangkok, Thailand, reported the largest decrease in occupancy, which dropped 33.6 percent to 44.3 percent.
Bali, Indonesia, reported the largest increase in ADR, which rose 17.4 percent to US$123.39. Two other markets reported increases in ADR: Tokyo, Japan (+10.9 percent to US$227.09), and Osaka, Japan (+5.8 percent to US$122.82). Mumbai, India, led the ADR decreases, dropping 41.1 percent to US$163.30. Other markets that reported ADR decreases of more than 30 percent include: New Delhi, India (-38.6 percent to US$174.29); Beijing, China (-32.3 percent to US$97.48); and Sydney, Australia (-31.3 percent to US$119.92).
Bali was the only key market to report a RevPAR increase (+5.0 percent to US$78.83). New Delhi reported the largest decrease in RevPAR, which dropped 52.7 percent to US$101.33. Three other key markets that reported large RevPAR decreases include: Mumbai (51.4 percent to US$95.56); Beijing (-51.2 percent to US$50.46); and Bangkok (-47.0 percent to US$39.74).
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