STR and STR Global reported hotel results for October in the Americas, Asia Pacific, Europe and the Middle East. The Americas region recorded positive results in the three key performance metrics -- occupancy, ADR and RevPAR -- for October when reported in U.S. dollars, according to data compiled by STR and STR Global. STR Global reported that the Asia/Pacific region experienced slight decreases in all three key performance metrics, the Europe hotel industry posted mixed results in year-over-year metrics, and Middle East/Africa region reported positive hotel performance.
The Americas region ended the month with a 2.4 percent increase in occupancy to 64.3 percent, a 3.9 percent gain in average daily rate to $111.10 and a 6.4 percent increase in revenue per available room to $71.39. Among the markets in the region, San Juan reported the largest occupancy increase, rising 12.9 percent to 71.1 percent. San Francisco (up 9.6 percent to $206.57), and Chicago (up 8.4 percent to $146.74) achieved the largest ADR increases for the month.
Four markets experienced double digit RevPAR increases in October -- San Juan (up 16.5 percent to $106.05); Chicago (up 14.5 percent to $111.19); Los Angeles (up 14.3 percent to $103.46); and San Francisco (up 12.8 percent to $181.67). Panama City, Panama, reported the largest decreases in all three key performance metrics. The market’s occupancy fell 25.4 percent to 44.6 percent, its ADR was down 17.6 percent to $108.52 and its RevPAR decreased 38.5 percent to $48.45.
In year-over-year measurements, the Asia/Pacific region’s occupancy ended the month virtually flat with a 0.2 percent decrease to 70.9 percent, its average daily rate fell 0.6 percent to $135.51 and its revenue per available room was down 0.8 percent to $96.08. For the month of October, China reported 67 percent occupancy and $111 ADR. Both key performance indicators were below the Asia/Pacific average of 71 percent occupancy and $136 ADR. “Whilst supply growth has slowed across China to 3.5 percent for year to October, the room stock continued to increase at a higher rate than the regional 2.9 percent, which negatively impacted the country's performance,” said Elizabeth Randall Winkle, managing director of STR Global.
Among the highlights from key market performers in local currency (year-over-year comparisons):
• Bangkok, Thailand, reported the largest occupancy increase, rising 20.1 percent to 70.2 percent. Delhi, India, followed with a 12.1 percent occupancy increase to 68.5 percent.
• Taipei, Taiwan, posted the largest occupancy decrease, falling 9.3 percent to 68.7 percent.
• Four markets achieved double-digit ADR increases -- Jakarta, Indonesia (up 21.4 percent to $102.9); Tokyo (up 20.9 percent to $201.4); Taipei (up 14.4 percent to $205.2); and Bali (up 11.7 percent to $139.9).
• Auckland, New Zealand, reported the largest decreases in both ADR (down 54.6 percent to $116.8) and RevPAR (down 55.9 percent to $75.6) for the month.
• Three markets experienced RevPAR increases of more than 20 percent -- Bangkok (up 28.7 percent to $65.1), Tokyo (up 21 percent to $173.3) and Jakarta (up 20.3 percent to $81).
• Five markets experienced double-digit ADR increases -- Taipei (up 17.8 percent to $204.22); Tokyo (up 15.2 percent to $208.41); Jakarta (up 11 percent to $102.57); Phuket, Thailand (up 11 percent to $93.73); and Manila, Philippines (up 10.3 percent to $130.51).
• Three markets achieved RevPAR increases of more than 15 percent -- Bangkok (up 29.9 percent to $65.03), Phuket (up 15.3 percent to S$67.64) and Tokyo (up 15.2 percent to $179.32).
• Aucklandreported the largest ADR decrease, falling 54.6 percent to $116.42. The market also experienced the largest RevPAR decrease for the month, down 55.9 percent to $91.55.
The Europe hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for October, according to data compiled by STR Global. “The positive news across the European hotel market is the solid performance of average daily rates (in euros) with a 6.1 percent and 5.3 percent growth for October and the year-to-date period, respectively,” said Winkle. “ADR benefited from strong European demand, in terms of number of occupied rooms, which stands at historic high levels and continued to increase 1.4 percent for October and 0.9 percent for year to October.”
Among the highlights from key market performers October include (year-over-year comparisons, all currency in euros):
• Bratislava, Slovakia, reported the largest occupancy increase, rising 15 percent to 60.6 percent, followed by Tel Aviv (up 14.9 percent to 80.9 percent), and Zurich, Switzerland (up 11.3 percent to 75.6 percent).
• Lisbon, Portugal, fell 6.7 percent in occupancy to 73.7 percent, reporting the largest decrease in that metric.
• Three markets reported ADR growth of more than 15 percent -- Tel Aviv (up 18.6 percent to $256); Budapest, Hungary (up 15.2 percent to $97.6); and Paris (up 15.1 percent to $373).
• Athens, Greece (down 9.8 percent to $130.2), and Vilnius, Lithuania (down 9.5 percent to $63.3), posted the largest ADR decreases in October.
• Three markets achieved RevPAR increases of more than 20 percent -- Tel Aviv (up 36.2 percent to $207.2); Dublin, Ireland (up 23.4 percent to $98.8); and Budapest (up 21.7 percent to $73.4).
• Two markets posted double-digit RevPAR decreases -- Athens, Greece (down 14.2 percent to $75.9), and Lisbon (down 12.2 percent to $88).
The Middle East’s occupancy increased 4.6 percent to 65.5 percent during the month, its average daily rate rose 9.4 percent to $183.97 and its revenue per available room grew 14.4 percent to $120.56. “ADR across the Middle East saw a double-digit uplift in October for the first time this year, growing 13.3 percent to $246 after benefiting from the Eid celebrations that took place in October this year,” said Winkle. “Across Saudi Arabia, RevPAR grew 38.8 percent in U.S. dollar terms against October 2011.”
The biggest RevPAR increases were reported in Makah (88.2 percent) and Medina (36.9 percent) followed by Al Khobar (25.1 percent) and Jeddah (23.4 percent). RevPAR in Riyadh, the country’s business hub, declined 38.4 percent in the same month.
“ADR in U.S. dollar terms across Africa continued to soften against last year, declining for all 10 months this year to report a 7.7 percent decline,” said Winkle. “Occupancy, on the other hand, grew all months expect January, reporting a 9.4 percent increase year to date to 56 percent.”
Among the highlights among the region’s key markets for October include (year-over-year comparisons, all currency in U.S. dollars):
• Cairo, Egypt, rose 11.1 percent in occupancy to 52 percent, reporting the largest increase in that metric.
• Jeddah, Saudi Arabia (up 26.9 percent to $243.19), and Dubai, United Arab Emirates (up 13.2 percent to $272.70), ended the month with the largest ADR increases.
• Four markets achieved double-digit RevPAR growth -- Jeddah (up 23.4 percent to $189.54); Dubai (up 20.4 percent to $224.51); Cairo (up 17.3 percent to $59.10); and Sandton, South Africa, and the surrounding areas (up 12.5 percent to $84.01).
• Beirut, Lebanon, reported the largest decrease in all three key performance metrics. The market’s occupancy fell 37.7 percent to 38.5 percent, its ADR was down 15.9 percent to $159.34, and its RevPAR decreased 47.6 percent to $61.36.