Positive 2012 RevPAR forecast for Beijing, Hong Kong, Singapore and Sydney
STR Global forecasts on a quarterly basis the hotel performance in Beijing, Hong Kong, Singapore and Sydney. RevPAR growth is expected to be mainly driven by increasing average daily rate (ADR), following strong occupancy performances in Singapore, Hong Kong and Sydney during 2011.
The markets posted occupancy of more than 80 percent for the year, while Beijing achieved just less than 70 percent.
Supply is expected to grow between 1.1 percent and 2.5 percent across the four cities, with demand predicted to increase between 1.7 percent and 3.8 percent.
Following strong demand growth during 2010 (+22.8 percent) and 2011 (6.2 percent), Singapore is expected to see the metric increase at a rate less than supply during 2012. The imbalance is forecasted to lead to an occupancy decrease of 0.6 percent for the year.
In Beijing, occupancy growth and ADR growth (+4.5 percent to CNY 677.76) will support RevPAR growth between 5.0 percent and 7.0 percent in 2012.
Hong Kong is predicted to see the largest supply increase (+2.5 percent) of the four cities, which is expected to be offset by a 3 percent demand increase that will drive growth in occupancy, ADR and RevPAR.