Hotels in the Asia/Pacific region experienced double-digit decreases when reported in U.S. dollars for all three key performance metrics for May 2009, according to data compiled by STR Global.
In year-over-year measurements, Asia/Pacific region's occupancy in May dropped 14.9 percent to 55.4 percent; average daily rate declined 15.2 percent to US$117.86; and revenue per available room fell 27.9 percent to US$65.26.
'Occupancy levels dropped the most within the Asia/Pacific region for the month of May and in the year-to-date numbers of any region', said James Chappell, managing director of STR Global. 'While Europe, Americas and Middle East/Africa regions are experiencing a slowdown in the rate of decline, the same cannot be said in Asia. Some of the lowest levels of occupancy-under 50 percent-were reported in Bangkok, Beijing, Phuket and Shanghai, as the markets suffered from post Olympic boom and oversupply. Other areas, like Thailand, are suffering because of the uncertain economic climate.
'It's not all bad news though', Chappell continued. 'Brisbane, Melbourne, Seoul and Sydney reported the highest levels of occupancy-over 70 percent-for May from the 17 markets tracked by our Asia/Pacific Hotel Review.'
Among the key markets, Brisbane, Australia, reported the smallest occupancy decrease, falling 2.1 percent to 77.3 percent. Bangkok, Thailand, fell in occupancy 37.3 percent to 41.8 percent, reporting the largest decrease in that metric. Phuket, Thailand, followed with a 32.1-percent decrease in occupancy to 34.5 percent.
Three markets reported ADR increases: Bali, Indonesia (+18.5 percent to US$127.83); Tokyo, Japan (+12.9 percent to US$228.55); and Osaka, Japan (+8.7 percent to US$129.72). Mumbai, India, reported the largest ADR decrease, dropping 35.6 percent to US$164.66. New Delhi, India, followed with a 31.0-percent decrease in ADR to US$162.02.
Bail was the only market to increase in RevPAR for the month, rising 10.8 percent to US$88.79. Five markets reported RevPAR decreases of more than 40 percent: Bangkok (-48.4 percent to US$36.36); Phuket (-47.6 percent to US$25.80); New Delhi (-44.8 percent to US$81.48); Beijing, China (-43.8 percent to US$45.54); and Mumbai (-40.3 percent to US$92.37). Rio de Janeiro reported the only single-digit RevPAR decrease, falling 6.4 percent to US$91.47. Four markets reported RevPAR decreases of more than 30 percent: Mexico City (-70.2 percent to US$22.95); Buenos Aires (-45.7 percent to US$67.28); Toronto (-36.4 percent to US$75.31); and New York (-35.7 percent to US$159.82).
Performances of key countries in May (all monetary units in local currency)*:
*percentages are increases/decreases for May 2009 vs. May 2008
Global Hotel Review PDF for May 2009.
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For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
