Hotel rates, in terms of U.S. dollars, increased across all global
regions in August, according to STR Global.
Rates in the Americas were up 3.8 percent year over year,
and occupancy in the region increased by 3.5 percent to 66.3 percent. Rates in
August increased in every major market except Washington, D.C., and they were
up the most in the Brazilian cities of São Paulo (28.9 percent) and Rio de
Janeiro (15.3 percent) as well as in San Francisco (15.3 percent) and Buenos
Aires (15 percent).
While rates in Europe were down in terms of euros, they were
up 12.1 percent in U.S. dollars. In euro terms, the largest increases occurred
in Paris (19.7 percent) and Florence, Italy (15.2 percent). Birmingham, U.K.,
had the largest decrease, with rates down 12.4 percent.
European occupancy increased by 2.5 percent to 71 percent.
In the Asia/Pacific region, rates increased 12.2 percent
despite virtually flat year-over-year occupancy, up 0.1 percent to 68.1
percent. Supply growth in the region has kept pace with demand, according to
STR Global managing director Elizabeth Randall.
Brisbane, Australia, had the highest regional increase in
U.S. dollar terms, up 31.3 percent. Hong Kong was up 27.6 percent, and Sydney
rates increased by 25.2 percent. The largest decreases were in Shanghai (6.6 percent)
and New Delhi, India (5 percent).
Rates in the Middle East and Africa were up 12.9 percent in
August, although occupancy was down 9.5 percent to 48.3 percent. The decrease
was a combination of lingering effects of the Arab Spring as well as Ramadan
occurring in August this year, according to Randall.
Saudi Arabia had the largest August rate increases: Riyadh
was up 6 percent and Jeddah was up 5.3 percent. The largest decreases were in
Beirut, Lebanon (20 percent), and Abu Dhabi (16.7 percent), although Abu Dhabi
also was the only market in the region to have occupancy increase during
August.