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November 26, 2012
The Americas region ended the month with a 2.4% increase in occupancy to 64.3%, a 3.9% gain in ADR to US$111.10 and a 6.4% increase in RevPAR to US$71.39. San Francisco, and Chicago, achieved the largest ADR increases for the month.
The Americas region ended the month with a 2.4% increase in occupancy to 64.3%, a 3.9% gain in ADR to US$111.10 and a 6.4% increase in RevPAR to US$71.39.
Among the markets in the region, San Juan, Puerto Rico, reported the largest occupancy increase, rising 12.9% to 71.1%. San Francisco, California (+9.6% to US$206.57), and Chicago, Illinois (+8.4% to US$146.74), achieved the largest ADR increases for the month.
Four markets experienced double-digit RevPAR increases in October: San Juan (+16.5% to US$106.05); Chicago (+14.5% to US$111.19); Los Angeles, California (+14.3% to US$103.46); and San Francisco (+12.8% to US$181.67).
Panama City, Panama, reported the largest decreases in all three key performance metrics. The market's occupancy fell 25.4% to 44.6%, its ADR was down 17.6% to US$108.52 and its RevPAR decreased 38.5% to US$48.45.
The Europe hotel industry posted mixed results in year-on-year metrics when reported in U.S. dollars, euros and British pounds for October 2012.
"The positive news across the European hotel market is the solid performance of ADRs (in euros) with a 6.1% and 5.3% growth for October and the year-to-date period, respectively," said Elizabeth Randall Winkle. "ADR benefited from strong European demand, in terms of number of occupied rooms, which stands at historic high levels and continued to increase 1.4% for October and 0.9% for year to October."
Highlights from key market performers for October 2012 include (year-on-year comparisons, all currency in euros):
- Bratislava, Slovakia, reported the largest occupancy increase, rising 15.0% to 60.6%, followed by Zurich, Switzerland (+11.3% to 75.6%).
Lisbon, Portugal, fell 6.7% in occupancy to 73.7%, reporting the largest decrease in that metric.
- Two markets in Europe reported ADR growth of more than 15%: Budapest, Hungary (+15.2% to EUR75.28); and Paris, France (+15.1% to EUR287.41).
Athens, Greece (-9.8% to EUR100.38), and Vilnius, Lithuania (-9.5% to EUR48.80), posted the largest ADR decreases in October.
- Two markets in Europe achieved RevPAR increases of more than 20%: Dublin, Ireland (+23.4% to EUR76.15); and Budapest (+21.7% to EUR56.60).
- Two markets posted double-digit RevPAR decreases: Athens, Greece (-14.2% to EUR58.54), and Lisbon (-12.2% to EUR67.81).
Middle East / Africa
The Middle East / Africa region reported positive hotel performance results in October 2012 when reported in U.S. dollars.
The region's occupancy increased 4.6% to 65.5% during the month, its ADR rose 9.4% to US$183.97 and its RevPAR grew 14.4% to US$120.56.
"ADR across the Middle East saw a doubled-digit uplift in October for the first time this year, growing 13.3% to US$246 after benefiting from the Eid celebrations that took place in October this year," said Ms. Randall Winkle. "Across Saudi Arabia, RevPAR grew 38.8% in U.S. dollar terms against October 2011.The biggest RevPAR increases were reported in Makah (88.2%) and Medina (36.9%) followed by Al Khobar (25.1%) and Jeddah (23.4%). RevPAR in Riyadh, the country's business hub, declined 38.4% in the same month. ADR in U.S. dollar terms across Africa continued to soften against last year, declining for all 10 months this year to report a 7.7% decline. Occupancy, on the other hand, grew all months expect January, reporting a 9.4% increase year to date to 56%."
Highlights among the region's key markets for October 2012 include (year-on-year comparisons, all currency in U.S. dollars):
- Cairo, Egypt, rose 11.1% in occupancy to 52.0%, reporting the largest increase in that metric.
Jeddah, Saudi Arabia (+26.9% to US$243.19), and Dubai, United Arab Emirates (+13.2% to US$272.70), ended the month with the largest ADR increases.
- Four markets achieved double-digit RevPAR growth: Jeddah (+23.4% to U$189.54); Dubai (+20.4% to US$224.51); Cairo (+17.3% to US$59.10); and Sandton, South Africa, and the surrounding areas (+12.5% to US$84.01).
- Beirut, Lebanon, reported the largest decrease in all three key performance metrics. The market's occupancy fell 37.7% to 38.5%, its ADR was down 15.9% to US$159.34, and its RevPAR decreased 47.6% to US$61.36.
the Asia Pacific region's occupancy ended the month virtually flat with a 0.2% decrease to 70.9%, its ADR fell 0.6% to US$135.51 and its RevPAR was down 0.8% to US$96.08.
"We are delighted that China is the second biggest country in our sample," said Elizabeth Randall Winkle, managing director of STR Global. "After the U.K., with 2,900 hotels, we assist 1,900 hotels in China with our benchmarking reports and market analysis. For the month of October, China reported 67% occupancy and US$111 ADR. Both key performance indicators were below the Asia Pacific average of 71% occupancy and US$136 ADR. Whilst supply growth has slowed across China to 3.5% for year to October, the room stock continued to increase at a higher rate than the regional 2.9%, which negatively impacted the country's performance."
Highlights from key market performers in local currency (year-on-year comparisons):
- Bangkok, Thailand, reported the largest occupancy increase, rising 20.1% to 70.2%. Delhi, India, followed with a 12.1% occupancy increase to 68.5%.
- Taipei, Taiwan, posted the largest occupancy decrease, falling 9.3% to 68.7%.
- Four markets achieved double-digit ADR increases: Jakarta, Indonesia (+21.4% to IDR989,081.91); Tokyo, Japan (+20.9% to JPY16,599.58); Taipei (+14.4% to TWD5,978.13); and Bali, Indonesia (+11.7% to IDR1,344,455.67).
- Auckland, New Zealand, reported the largest decreases in both ADR (-54.6% to NZD141.84) and RevPAR (-55.9% to NZD111.55) for the month.
- Three markets experienced RevPAR increases of more than 20%: Bangkok (+28.7% to THB2,001.16); Tokyo (21.0% to JPY14,282.24); and Jakarta (+20.3% to IDR769,637.95).
Highlights from key market performers for October 2012 in U.S. dollars (year-on-year comparisons):
- Five markets experienced double-digit ADR increases: Taipei (+17.8% to US$204.22); Tokyo (+15.2% to US$208.41); Jakarta (+11.0% to US$102.57); Phuket, Thailand (+11.0% to US$93.73); and Manila, Philippines (+10.3% to US$130.51).
- Three markets achieved RevPAR increases of more than 15%: Bangkok (+29.9% to US$65.03); Phuket (+15.3% to US$67.64); Tokyo (+15.2% to US$179.32).
Auckland reported the largest ADR decrease, falling 54.6% to US$116.42. The market also experienced the largest RevPAR decrease for the month, down 55.9% to US$91.55.
STR Global now tracks hotel performance from more than 1,900 hotels across all hotel classes in China and more than 4,500 hotels throughout Asia Pacific.
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