Average October Hotel Rates Up In Most Global Regions - Business Travel News

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Average October Hotel Rates Up In Most Global Regions

November 26, 2012 - 08:05 AM ET

By Michael B. Baker

Average daily hotel rates in October increased year over year across all global regions except Asia/Pacific, according to STR Global.

The average daily rate in the Americas increased 3.9 percent, including a 4.2 percent increase in the United States, and occupancy increased 2.4 percent to 64.3 percent. The region's largest ADR increases included New Orleans (11.3 percent), San Francisco (9.6 percent) and Chicago (8.4 percent). The region's largest ADR decrease was in Panama City (down 17.6 percent), and the largest U.S. decrease was in St. Louis (down 3 percent).

In Europe, ADR increased 6.1 percent in terms of the euro, boosted by strong demand and high occupancy, according to STR Global managing director Elizabeth Randall Winkle. Occupancy was up slightly year over year to 71.6 percent. The largest October ADR increases were in Tel Aviv (18.6 percent), Budapest (15.2 percent) and Paris (15.1 percent). The largest decreases were in Athens (down 9.8 percent) and Vilnius, Lithuania (down 9.5 percent).

Both average rate and occupancy decreased slightly in Asia/Pacific in October, down respectively 0.6 percent and 0.2 percent (to 70.9 percent). Several cities, however, had significant ADR increases, including Jakarta (21.4 percent), Tokyo (20.9 percent), Taipei (14.4 percent) and Bali (11.7 percent).

The Middle East/Africa region experienced the largest ADR increase, up 9.4 percent due in part to October Eid celebrations. The region's largest ADR increases were in Jeddah (26.9 percent) and Dubai (13.2 percent). Occupancy across the Middle East and Africa increased 4.6 percent to 65.5 percent.

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