Hotels in the Asia Pacific region experienced rising rates and occupancy in February 2012.
According to the latest data from STR Global, the region’s occupancy increased 3.6% year-on-year to 66.5%, average daily rates (ADR) climbed 2.8% to US$146. This pushed revenue per available room (revPAR) up 6.5% to US$97. STR Global said however, that the year-on-year comparisons were impacted by Chinese New Year falling in January this year compared to February in 2011.
“The changing dates for Chinese New Year, which started 23 January 2012 compared to 3 February 2011, impacted select results across the region”, said Elizabeth Randall, Managing Director of STR Global. “Demand grew again (by 6.4%) for February 2012 on a like-for-like basis against February 2011, picking up from a weaker January result.”
The impact of Chinese New Year was most noticeable in Shanghai, which saw a 37.6% year-on-year jump in occupancy to 55.9% – the largest increase in the region. This was followed by Beijing (+35.1% to 62.5%) and Hanoi (+23.0% to 76.5%). In Indonesia however, Bali’s occupancy fell 11.4% to 62.5% – the region’s largest drop.
In terms of ADR, Taipei (+19.4% to US$187) and Beijing (+19.1% to US$103) reported the most significant growth last month, while New Delhi’s ADR fell 17.0% to US$178 – the largest year-on-year drop. The Indian capital also reported the steepest revPAR decline, falling 23.1% to US$134. Three markets experienced revPAR growth of more than 25%: Beijing (+60.9% to US$64), Shanghai (+47.1% to US$66) and Jakarta (+26.9% to US$75).
Asia Pacific’s revPAR was stronger than both Europe (US$75) and the Americas (US$61) in February 2012, but still lags behind the Middle East & Africa (US$108).
