Most global regions ended 2010 with higher average daily
hotel rates and revenues than in 2009, with the Asia-Pacific region closest to pre-recession
levels, according to STR Global data released on Wednesday.
In the Americas, occupancy increased 5.6 percent to 57.8
percent in 2010 while average daily rate remained largely unchanged, up 0.6
percent. Revenue per available room was up 6.2 percent.
The largest average rate gains in the Americas occurred in
Sao Paulo (22.4 percent), Rio de Janeiro (21.9 percent) and Vancouver (21.2
percent). San Juan had the largest rate drop in the region, 5.1 percent.
In Europe, according to STR Global managing director Elizabeth
Randall, "most hotel markets boosted their occupancy levels and were
able to build their average rates." The largest rate increases were in
Stockholm (19.1 percent) and Munich (18.5 percent). Copenhagen had the largest
average rate decline at 14.8 percent.
In
the Asia-Pacific region, rates increased by 11.4 percent and occupancy by 8.9
percent, combining for a 21.3 percent RevPAR increase. The region's RevPAR lags
the 2008 figure in absolute dollars by only $1.60, according to Randall. Occupancy
increased in every major market except Bangkok. The largest average rate
increases occurred in Shanghai, Hong Kong, Sydney and Brisbane, all up more
than 20 percent.
Recovery
was the slowest in the Middle East and Africa, with occupancy up 0.8 percent
and rates up 3.1 percent. RevPAR in the region was up 4 percent.
South
Africa recorded the largest rate increases, with rates up 30.5 percent in
Johannesburg and 27.4 percent in Cape Town. Abu Dhabi experienced the largest
declines in all three metrics: average rate down 31.2 percent, occupancy down
13.9 percent and RevPAR down by more than 40 percent.