The world’s four regions of the hotel world—the Americas, Asia/Pacific, Europe, and Middle East/Africa, as analyzed by STR Global, reported mixed year-end results for 2008, although no city reported an increase in occupancy.
Figures for occupancy, average daily rate, and revenue per available room for 2008 range from single-digit losses to double-digit gains, depending on the market and the currency used for comparison, says the lodging industry benchmarking and research company.
Year-end highlights from key individual markets around the globe for 2008 include, in U.S. dollars:
- With a 20.3 percent decrease in occupancy, Beijing was the only city to report a double-digit decline in that measurement. It did, however, report the highest increase in ADR (36 percent).
- London was the only city to report declines across the board and the only city to experience a drop in ADR. It had a 1.6 percent decrease in occupancy, a 3.9 percent decrease in ADR, and a 5.5 percent decrease in .
- No city reported an increase in occupancy. The city that experienced the smallest decrease in that measurement was Paris (-0.3 percent). It reported increases in both ADR (12.9 percent) and RevPAR (12.6 percent).
- Five cities reported double-digit increases in RevPAR: Cairo, Egypt (15.6 percent); Tokyo (13.2 percent); Paris (12.6 percent); Buenos Aires, Argentina (10.6 percent); and Berlin (10.5 percent).
Smith Travel Research and STR Global offer monthly, weekly, and daily benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.strglobal.com.