Hotel occupancy in February increased year over year in all four regions of the world, and average daily rate increased in all regions except Asia/Pacific, according to STR Global.
In the Americas, February ADR increased 3.1 percent year over year to $114.90, and occupancy increased 3.2 percent to 60.6 percent, the firm reported. The region's largest ADR increase was in San Francisco (up 14.2 percent to $186.92); its largest decrease was in Rio de Janeiro (down 25.9 percent to $208.35).
Within the United States, ADR for the month increased by 3.9 percent to $111.94, and occupancy increased by 3.3 percent to 60.3 percent, according to STR. The company's senior vice president of strategic development, Jan Freitag, noted U.S. hotel demand growth for 2014 so far has been stronger than last year, although he expects demand growth to slow as the summer approaches.
Besides San Francisco, Nashville had the nation's largest ADR increase (up 11.6 percent to $109.22) and New Orleans had the largest decrease (down 16.7 percent to $159.73).
In Europe, where STR Global managing director Elizabeth Winkle expects "2014 to be a year of growth," ADR increased by 7.4 percent to $131.03 and occupancy increased by 3.3 percent to 60.8 percent. Measured in euros, several markets had significant ADR increases in February: Copenhagen (up 15.7 percent to €112.69), Amsterdam (up 14.7 percent to €112.31), Manchester (up 13.2 percent to €80.12), Tallinn (up 11.4 percent to €71.36) and London (up 10.2 percent to €153.78). February ADR in Moscow dropped by 20.4 percent to €127.97, the region's largest decrease.
Asia/Pacific February ADR declined 4.6 percent to $125.03, and occupancy increased 8.1 percent to 67.1 percent. Occupancy growth during the month was particularly strong in China because of the timing of the Chinese New Year, and occupancy was higher than 90 percent in Auckland and Sydney, according to Winkle.
Auckland also had the region's largest ADR increase (up 9.4 percent to $139.29). The largest ADR decrease was in Mumbai (down 15.5 percent to $127.82).
In the Middle East and Africa, February ADR increased 2.7 percent to $177.42, and occupancy increased 1.3 percent to 67.4 percent, according to STR Global. Dubai demand is absorbing new supply, according to Winkle, and the market had the region's largest ADR increase (up 9.7 percent to $286.99). February ADR in nearby Abu Dhabi, however, decreased 22.9 percent to $148.72, the largest decrease in the region.