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Hotels See Gains for Americas, MEA; Mixed Results for Europe, Asia/Pacific

Hotel & Resort | STR Global | Claudette Covey | February 25, 2013

STR Global released January hotel results for the U.S., Europe, Middle East Africa and Asia/Pacific for January. The Americas and Middle East/Africa regions recorded positive results in the three key performance metrics while Europe and Asia/Pacific’s hotel performance was mixed.

In January, the Americas region reported a 3.3 percent increase in occupancy to 51.3 percent, a 4.8 percent gain in average daily rate to $109.21 and an 8.3 percent jump in revenue per available room to $56.04. Among the key markets in the region, New York reported the largest occupancy increase, rising 11.4 percent to 73.8 percent. Buenos Aires, Argentina (minus 12.2 percent to 52.7 percent), and Panama City, Panama (minus 12.2 percent to 50.3 percent) posted the largest occupancy decreases for the month.

Three markets experienced double-digit ADR increases: Washington (plus 17 percent to $151.75); Miami (up 12.2 percent to $211.11); and San Juan (up 11.2 percent to $209.30). Panama City reported the largest ADR (down 9.4 percent to $113.93) and RevPAR (down 20.5 percent to $57.27) for the month.

Four markets achieved revPAR increases of more than 15 percent: Washington  (up 25.8 percent to $79.24); San Juan (up 18.4 percent to $158.09); Miami (up 17.5 percent to $174.26); and New York (up 16.3 percent to $145.17).

The Middle East/Africa region also experienced positive results, with an 8.2 percent increase in occupancy to 59.8 percent, a 1.3 percent increase in average daily rate to $182.81 and a 9.6 percent increase in revenue per available room to $109.29. Manama, Bahrain, reported the largest occupancy increase, up 40 percent to 56.6 percent, followed by Cairo (up 17.2 percent to 42.7 percent), and Muscat, Oman (up 14.9 percent to 67.9 percent). Amman, Jordan, fell 29.4 percent in occupancy to 45.7 percent, posting the largest decrease in that metric. Jeddah, Saudi Arabia, increased 14 percent in ADR to $241.24, achieving the largest increase in that metric. Beirut, Lebanon, experienced the only double-digit ADR decrease, falling 25.5 percent to $157.26. Manama (plus 39.8 percent to $120.39) and Cairo (plus14.5 percent to $44.83) achieved the largest revPAR increases for the month. Beirut fell 34.7 percent in revPAR to $72.79, reporting the largest decrease in that metric followed by Amman with a 22.5 percent decrease to $72.60.

The European hotel industry posted mixed results in year-over-year metrics. Bratislava, Slovakia (plus 20.9 percent to 42.8 percent), and Copenhagen, Denmark  (plus 10.2 percent to 51 percent), reported the largest occupancy increases for the month. Tel Aviv fell 8.9 percent in occupancy to 58.2 percent, posting the largest decrease in that metric. Reykjavik, Iceland, reported the largest ADR increase, rising 23.1 percent to $91.02, followed by Tallinn, Estonia, with an 11.9 percent increase to $74.43. Warsaw, Poland, reported the only double-digit ADR decrease, falling 12.1 percent to $83.34. Three markets experienced revPAR increases of more than 15 percent: Reykjavik (up 26.5 percent to $40.05); Bratislava (up 18.4 percent to $35.61); and Tallinn (up 16.4 percent to $47.02). Tel Aviv fell 11.8 percent in revPAR to $115.97, reporting the largest decrease in that metric.

Hotels in the Asia/Pacific region also experienced mixed results in the three performance metrics. In January, the Asia/Pacific region’s occupancy ended the month with a 7.7 percent increase to 65.2 percent, its average daily rate decreased 6.3 percent to $130.39 and its revenue per available room was up 1 percent to $85.

Four markets saw occupancy increases of more than 20 percent: Ho Chi Minh City, Vietnam (up 37.6 percent to 76.3 percent); Shanghai (up 33.3 percent to 57.7 percent); Hanoi, Vietnam (up 28.4 percent to 68 percent); and Beijing (up 23.5 percent to 63.5 percent). Bali, Indonesia, posted the only double-digit occupancy decrease, falling 19.5 percent to 61.3 percent. Taipei, Taiwan (up 23.1 percent to $201), and Jakarta, Indonesia (up 21.8 percent to $105.78) experienced the largest ADR increases for the month. Delhi, India, fell 11.4 percent in ADR to $136.18, posting the largest decrease in that metric.

Three markets achieved revPAR increases of more than 30 percent: Shanghai (up 37.1 percent to $55.38); Beijing (up 34.8 percent to $62.24); and Ho Chi Minh City (up 34.7 percent to $97.26). Delhi fell 19.6 percent in revPAR to $86.66, reporting the largest decrease in that metric. Taipei achieved the largest ADR increase, rising 24.3 percent to $201.70. Delhi (down 16.6 percent to $137.30) and Osaka, Japan (down 14.1 percent to $111.94), posted the largest ADR decreases for the month. Three markets experienced revPAR increases of more than 35 percent: Shanghai (up 37.4 percent to $54.95); Ho Chi Minh City (up 36.6 percent to $97.45); and Beijing (up 35.1 percent to $61.75).

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