Hotel rates during October increased year over year in all
four global regions, according to STR Global.
Rates in the Americas were up 4 percent, including a 3.9
percent rate increase in the United States. Several U.S. markets had
double-digit percentage rate increases, including San Francisco (19.4 percent),
Miami (12 percent,), Nashville (11.9 percent) and St. Louis (11.4 percent).
Rates fell slightly in Atlanta and Washington, D.C.
In Europe, the largest rate increases occurred in Stockholm
(23.3 percent), Cologne, Germany (18.7 percent), and Lisbon (18.2 percent). Rates
in Cardiff, Wales, dropped 20.2 percent, the largest decrease in the region.
While October occupancy in the Asia/Pacific region dropped to
70 percent, a 2 percent decline, rates increased by 8.4 percent. In terms of
local currency, the largest rate increases occurred in Hong Kong (20 percent)
and the Indonesian cities of Bali (18.3 percent) and Jakarta (18.2 percent). Rates
decreased by 15.3 percent in Shanghai and by 10.8 percent in New Delhi.
Occupancy decreased in the Middle East/Africa region to 63.4
percent, a 3.4 percent drop, but rates were up 7.3 percent compared with
October 2010. The largest rate increases were in Saudi Arabia. Rates in Riyadh
increased by 9.2 percent and in Jeddah by 8.7 percent. Rates in both Abu Dhabi
and Cairo decreased by about 13 percent.