Asia Pacific - Hotel Sector Posts Strong Results For June 2012
July 26, 2012
Hospitality throughout Asia Pacific emerged stronger in June, according to research by STR Global.
Hotel research house STR Global said that hotels in the Asia Pacific emerged with stronger results in three key performance indices for June. The hospitality sector posted improvements in occupancy rate, average daily rate (ADR) and revenue per available room (RevPAR) from last year.
Throughout the Asia Pacific - on a year-on-year basis - average hotel occupancy rose by 1.8% to 66.2%, while ADR climbed 5.4% to USD 136.87. RevPAR increased by 5.7% to USD 93.26 on average.
Year-to-date, the region's occupancy rate was higher by 2.3% to 66.0%, and ADR rose 3.3% to USD 141.38. Meanwhile, RevPAR grew 5.7% to USD 93.26.
"The first six months of 2012 saw overall moderate growth in occupancy and ADR for most months," said Elizabeth Randall, Managing Director at STR Global. She added that "the increases have helped to bring the" region back on par with the first half performance in 2008, before the worldwide financial and economic downturn made its full impact felt."
"The region matched its 66 percent occupancy and was just USD 0.38 below its 2008 first half ADR performance. As the region experienced a continuous increase in new hotel supply, growing with a 3.2% compound annual growth rate (CAGR) between the first six months 2008 and 2012, demand has kept pace with a 3.1% CAGR," Randall said.
Kuala Lumpur, Malaysia, was one region that showed significant improvement. RevPAR in the city rose 21% to RM 316.38 from June 2011.
The highest increase in terms of occupancy was reported by Hanoi, Vietnam, where occupancy increased y-o-y by 13.% to 61.8%. Following on, Shanghai, China reported that occupancy increased y-o-y by 11.3% to 62.7% while Phuket, Thailand came up third with an increase of 10.2% to 59.3%.