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STR Global reports Mixed Result for September for Asia/ Pacific

Hotels in the Asia/Pacific region experienced mixed results when reported in U.S. dollars for all three key performance metrics for September 2009, according to data compiled by STR Global.

In year-over-year measurements, the Asia/Pacific region’s occupancy rose 1.4 percent to 62.3 percent; average daily rate declined 7.7 percent to US$123.72; and revenue per available room fell 6.3 percent to US$77.12.

‘Asia Pacific reported the lowest RevPAR declines (-6.3 percent) since September 2008′, said Elizabeth Randall, managing director of STR Global. ‘A slight increase in occupancy boosted RevPAR; it was the first increase in occupancy since October 2007. The coming months should see improvements on the poor performance of the last quarter of 2008, which had been weakened by the economic downturn. Beijing, Hong Kong and Shanghai saw smaller declines compared to the post-Olympic period, reporting RevPAR decreases of only 9.2 percent, 11 percent and 19.2 percent, respectively’.

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This entry was posted on Tuesday, November 3rd, 2009 at 12:22 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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