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Americas See Most RevPAR Growth in September
Oct 25, 12 | 12:03 am
By STR Global
While Asia Pacific and Middle East/Africa saw RevPAR gains, the Americas region saw the largest year-on-year RevPAR growth in September, according to new data from STR Global.
The Americas region ended the month virtually flat with a 0.4% increase in occupancy to 63.4%, a 3.6% gain in ADR to US$109.26 and a 4.1% increase in RevPAR to US$69.32.
Among the region's key markets, San Juan, Puerto Rico, rose 9.4% in occupancy to 63.5%, reporting the largest increase in that metric, followed by Chicago with an 8.4% increase to 76.3%.
San Francisco posted the largest ADR increase, rising 14.3% to US$194.80, followed by Santiago, Chile, up 13.2% to US$162.11 and Rio de Janeiro, up 12.7% to US$217.25.
Four markets achieved double-digit RevPAR increases: Chicago, up 21.5% to US$107.93, San Francisco, up 12.9% to US$171.12, Rio de Janeiro, up 12.3% to US$162.47 and Mexico City, up 10.8% to US$87.98.
Panama City experienced the largest decreases in all three key performance metrics. The market's occupancy fell 22.8% to 43.1%, its ADR was down 13.4% to US$111.36 and its RevPAR decreased 33.1% to US$48.01.
The Middle East/Africa region's occupancy increased 5.4% to 60.7% during the month, its average daily rate fell 1.7% to US$137.76 and its RevPAR grew by 3.6% to US$83.63.
"Beirut experienced two very different sides to this year," said Elizabeth Randall Winkle, managing director of STR Global. "The first five months saw double-digit RevPAR increases and the last four months saw falling RevPAR results. September, unfortunately, reported the highest declines so far with RevPAR falling 56.5% compared to September 2011. Recent events and unrests will provide further challenges to the city's residents and guests."
Highlights among the region's key markets for September 2012 include (year-over-year comparisons, all currency in U.S. dollars):
Beirut posted the largest decrease in all three key performance metrics, as occupancy fell 40.1% to 42.7%, its ADR was down 27.5% to US$166.36 and its RevPAR decreased 56.6% to US$71.11
In year-over-year measurements, the Asia Pacific region's occupancy fell 1.1% to 67.5%, its average daily rate rose 3.7% to US$140.44 and its RevPAR was up 2.5% to US$94.74.
"New Zealand hosted and won the Rugby World Cup last year, which took place 9 September to 23 October 2011, explaining the more than 30% decline in ADR and RevPAR results during September," said Winkle. "Ignoring last year's strong event-driving performance, RevPAR for the January to September period year-to-date is greater than the last peak in 2008. Year-to-September 2012 achieved a RevPAR of NZ$93.68 (US$76.21) compared to NZ$92.30 (US$75.09) for year-to-date 2008."
"Jakarta, Indonesia, continued its double-digit ADR growth in local currency for the 15th consecutive month. ADR growth benefited from strong demand increases, as September this year and last year saw the highest growth in monthly demand in the last 21 months," she said.
Highlights from key market performers in September 2012 in local currency (year-over-year comparisons):
Auckland, New Zealand, experienced the largest ADR, down 40.6% to NZ$133.08 (US$108.27) and RevPAR, down 42.3% to NZ$93.36 (US$75.95) decreases for the month.
Jakarta rose 40.1% in RevPAR to 801,622.64 rupiah (US$83.50), reporting the largest increase in that metric.
Meanwhile Europe showed mixed results in September.
"Increases in ADR are still the main driver for RevPAR growth across Europe," said Winkle. "While demand, in terms of occupied rooms, is at historic high levels for September, with 97 million rooms occupied throughout the month and year-to-date, the growth in demand and occupancy has been stagnating for most of the year. September was a good month for Vienna and Dublin, with RevPAR increases of more than 20%. Both cities benefited from congresses and convention business."
Highlights from key market performers for September 2012 include (year-over-year comparisons, all currency in euros):
Seven markets achieved RevPAR increases of more than 15%: Dublin, up 25.9% to €88.84 (US$115.54), Vienna, up 25.3% to €112.26 (US$145.99), Bratislava, up 18.8% to €43.80 (US$56.96), Reykjavik, up 17.6% to €83.50 (US$108.59), Berlin, up 16.3% to €96.26 (US$125.19), Prague, up 15.6% to €75.93 (US$98.75) and Manchester, United Kingdom, up 15.2% to €69.07 (US$89.83).
Vilnius fell 30.8% in RevPAR to €34.72 (US$45.15), ending the month with the largest decrease in that metric.
About STR Global
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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