In January, the Asia Pacific hotel markets had a mixed performance.
Hotels in the Asia/Pacific area, according to STR Global, had mixed outcomes in the three key performance measures for January 2012 when reported in US dollars. The Asia/Pacific region’s occupancy fell 3.4 percent to 60.0 percent year over year, but its average daily rate grew 9.8 percent to US$152.92 and revenue per available room grew 6.0 percent to US$91.81. lease to own qatar
“The region saw a slightly poorer start to the new year, with a tiny dip in demand (-0.8 percent) reflected in a dip in occupancy (-3.4 percent),” said STR Global managing director Elizabeth Randall. “The region’s RevPAR was boosted by average rate growth. The Maldives, which have recently made headlines, continue to experience double-digit demand growth (+11.6 percent), as well as improvements in occupancy and average room rates. In addition to the country’s perceived stability, currency exchange rates are important in the island nation, with average room prices rising 37.4% in local currency but just 15.6 percent in British pounds, the country’s principal source market currency “..
Highlights from important market performers in January 2012 in local currency (year-over-year comparisons): The only double-digit occupancy increases were in Kuala Lumpur, Malaysia (+10.0 percent to 69.9%), and Osaka, Japan (+10.0 percent to 74.7 percent).
The highest gain in ADR was reported by Hong Kong, which increased 19.2 percent to HKD1,996.39, followed by Jakarta, Indonesia, which increased 16.3 percent to IDR882,093.23.
RevPAR increased by more than 15% in three markets: Osaka (+18.9% to IDR7,832.13), Bali, Indonesia (+16.4 percent to IDR1,169,424.37), and Hong Kong (+15.9% to HKD1,591.90).
RevPAR in New Delhi, India, declined 8.5 percent to INR5,148.10, the greatest drop in that statistic.
Key market performers’ highlights in US dollars for January 2012 (year-over-year comparisons):
The highest ADR increase was in Hong Kong, which rose 19.7% to US$257.37, followed by Jakarta (+17.9% to US$97.82) and Osaka (+15.8% to US$136.89).
New Delhi’s ADR fell 15.8 percent to US$158.25.
Osaka (+27.5 percent to US$102.24), Bali (+18.0 percent to US$129.69), Hong Kong (+16.4 percent to US$205.22), and Jakarta (+16.3 percent to US$60.34) all had RevPAR rises of more than 15%.
In the fourth quarter, luxury residential prices in Hong Kong and Shanghai fell.
According to Jones Lang LaSalle’s newest Asia Pacific Residential Index, which measures eight luxury residential markets in the area, average capital values increased by 0.2 percent in the fourth quarter of 2011 over the previous quarter.
Capital values rose in Beijing, Bangkok, Jakarta, and Mumbai during the quarter, while prices stayed unchanged in Singapore and Kuala Lumpur and fell in Hong Kong and Shanghai.
Jane Murray, Jones Lang LaSalle’s Head of Asia Pacific Research, tells World Property Channel, “In 2012, we anticipate a multi-speed luxury residential market in Asia Pacific. We believe prices in China will continue to decrease, however developers will likely only offer modest price reductions due to limited availability in key regions. Due to forecast rental corrections, tighter credit, and government actions, prices in Hong Kong and Singapore are predicted to fall this year; nevertheless, normally low holding costs will limit the magnitude of price adjustment. While prices in Kuala Lumpur and Bangkok are projected to remain stable, we predict Jakarta prices to rise as the country’s economy improves.”
The following are some of the highlights from Q4 2011:
Due to tighter lending and waning investor mood, prices in Hong Kong fell by 3.3 percent in the fourth quarter of 2011.
Despite a modest rental correction, average prices in Singapore’s luxury prime sector remained constant for the sixth straight quarter.
China — With stricter restrictions in place and dropping sales volumes in China’s Tier I markets, capital values for luxury flats in Shanghai declined 0.5 percent year over year, while average prices in Beijing remained practically unchanged.
Jakarta’s high-end home prices increased by more than 14% in 2011, owing to the country’s robust economic growth.