April hotel rates and
occupancies increased year over year in the Americas and Asia/Pacific regions,
but results elsewhere were mixed, according to STR Global.
The average daily April rate
in the Americas increased 4.3 percent, and occupancy grew by 1.4 percent to 61.8
percent. Within the United States, the average rate was up 5 percent, even as
demand—particularly leisure demand at midprice and economy properties—slowed
somewhat during the month, according to STR COO Brad Garner. It's the first
time since April 2008 that monthly rate growth in the United States reached 5
percent, he said.
"We fully anticipate
meaningful ADR growth to be a consistent storyline this summer and the remainder
of the year," according to Garner.
The largest rate increases
in the Americas included Santiago, Chile (21.1 percent), New Orleans (11.6
percent) San Francisco (11.3 percent) and Chicago (10.1 percent). The average rate
in Panama City decreased by 15.4 percent, the largest decline in the region. No
major U.S. market had a lower April rate versus the same period last year.
The average rate increased
in the Asia/Pacific region by 3.6 percent, and occupancy increased by 3.8
percent to 67.6 percent. The largest rate increases included Tokyo (27 percent)
and Beijing (17.6 percent), while New Delhi had the largest decrease (24.8
percent).
In Europe, occupancy
increased by 1.1 percent to 65.6 percent. The average rate grew 7 percent in
terms of euros but dropped by 4.5 percent in terms of U.S. currency and by 2.2
percent in terms of British currency. The largest increases based on euros
occurred in Brussels (23.2 percent), Tel Aviv (19.9 percent), Frankfurt (18.9
percent), Tallinn, Estonia (16.3 percent) and London (15 percent). Bratislava
had the largest rate decrease, down 13.1 percent.
While April occupancy in the
Middle East and Africa increased by 10 percent to 63.9 percent, the average
rate was down 3.6 percent. The largest rate increases included Manama, Bahrain
(30.4 percent) and Dubai (10.7 percent). The largest decreases were in Cape
Town (14.6 percent) and Cairo (13 percent).