Hotels in the Asia/Pacific region experienced positive results in the three key performance metrics for March 2012 when reported in U.S. dollars
In year-over-year measurements, the Asia/Pacific region’s occupancy increased 4.4 percent to 69.4 percent, its average daily rate increased 4.8 percent to US$145.64 and its revenue per available room was up 9.4 percent to US$101.01.
A year has passed since the tragic natural disasters occurred in Japan”, said Elizabeth Randall, managing director of STR Global. The country’s hotel performance started to improve over recent months and reported a bounce back with Japan’s RevPAR for the month increasing 38 percent in local currency as compared to March last year. The biggest RevPAR growth was reported by Sendai (118 percent) and Yokohama (85percent), whilst Osaka reported a 7 percent decline compared to last year”. In the first quarter of the year the region’s occupancy rose 1.8 percent to 65.4 percent, its ADR was up 5.2 percent to US$147.16 and its RevPAR increased 7.1 percent to US$96.26. Looking at the first quarter performance, the majority of countries across the region continue to show improvements in ADR and RevPAR, Randall continued.
One exception is India, which reported declining performance for all key indicators. This trend started in the middle of last year and reflects the increases in supply and slow absorption rates across the country.
A year has passed since the tragic natural disasters occurred in Japan”, said Elizabeth Randall, managing director of STR Global. The country’s hotel performance started to improve over recent months and reported a bounce back with Japan’s RevPAR for the month increasing 38 percent in local currency as compared to March last year. The biggest RevPAR growth was reported by Sendai (118 percent) and Yokohama (85percent), whilst Osaka reported a 7 percent decline compared to last year”. In the first quarter of the year the region’s occupancy rose 1.8 percent to 65.4 percent, its ADR was up 5.2 percent to US$147.16 and its RevPAR increased 7.1 percent to US$96.26. Looking at the first quarter performance, the majority of countries across the region continue to show improvements in ADR and RevPAR, Randall continued.
One exception is India, which reported declining performance for all key indicators. This trend started in the middle of last year and reflects the increases in supply and slow absorption rates across the country.