The Asian hotel recovery has continued into 2011, with rising rates boosting performance in January. According to data released yesterday by STR Global, hotels in the Asia Pacific region experienced a 14.9 percent year-on-year rise in average daily rates (ADR), averaging US$145. The region’s occupancy ended the month virtually flat with a 0.2 percent increase to 62.0 percent, leading to a 14.6 percent rise in revenue per available room, which averaged US$90.
“This is the first time we saw a less than one percent occupancy increase since October 2009; however, this reflects the strong bounce the region had in 2010 more than any weakness in the market”, said Elizabeth Randall, Managing Director of STR Global. “Rate growth remained strong in January 2011. Looking at the markets, Australia, despite having still to struggle with unprecedented flooding in January, reported only slight declines in occupancy for the month. Hong Kong had a strong start into the new year; with occupancy levels of around 80 percent, the market’s ADR rose 24 percent in local currency. The weakening of the Hong Kong dollar against other Asian currencies continues to make the destination more attractive to visitors”.
Highlights from key market performers for January 2011 in local currency: (year-on-year comparisons)