Most major global hotel markets through the end of 2012 will experience higher revenue per available room, "led mainly through increases in rate rather than through occupancy increases,"

though growth will decelerate, according to STR Global. For 2011, the firm projected that Hong Kong would have the highest RevPAR growth, up 24.7 percent from 2010. Other top growth markets include Amsterdam, Beijing, Cologne, Copenhagen, Dublin, Düsseldorf, Milan, Moscow and Singapore. Many of those will continue to be top growth markets next year, although the highest projected 2012 RevPAR growth is 9.6 percent in Singapore, which would be lower than the 10 largest market increases expected for this year. No U.S. cities are in the top 10 RevPAR growth markets for either 2011 or 2012. STR Global also noted volatility, acknowledging that "the difficult and relatively fast-changing changes in the broader economy could very well change the forecast with the next quarterly report."