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STR Global, STR release November 2008worldwide hotel performance
results
Global economic slowdown clearly has effect on hotels in all
four regions
14 January 2009
LONDON and HENDERSONVILLE, TennesseeThe global economic slowdown
is having an impact on the hotelindustry based on the worlds four
regions reporting mixed year-over-year results when reported in
U.S. dollars,euros and British pounds for November 2008, according
to data compiled from STR Global.
Figures for occupancy, average daily rate and revenue per
available room range from double-digit losses todouble-digit gains,
depending on the market and the currency used for comparison.
Although year-to-date numbers still are fairly presentable due
to a strong first half of the year, November saw asharp drop in
demand, and RevPAR is suffering as a result, said James Chappell,
managing director for STRGlobal. Interestingly, the more mature
markets with good international brand saturation are faring better
as theyare holding the rate more. Less mature markets, or those
with a minimal amount of branded hotels, are falling inthe trap of
falling rate and occupancy. In general, Europe is suffering more
than the Middle East, although there arereports of falling demand
in those areas as well. 2009 will be an interesting year.
Year-over-year November 2008 figures (U.S. dollars, euros and
British pounds):
OccupancyADR(U.S.
dollars)
ADR
(euros)
ADR
(pounds)
RevPAR(U.S.
dollars)
RevPAR(euros)
RevPAR(pounds)
Asia Pacific66.7%
(-12.8%)$130.25(-5.7%)
102.66(+9.5%)
84.75(+26.5%)
$86.84(-17.7%)
68.45(-4.4%)
56.51(+10.4%)
Americas52.6%
(-10.2%)$102.52(-3.3%)
80.81(+12.3%)
66.71(+29.7%)
$53.96(-13.2%)
42.53(+0.8%)
35.11(+16.4%)
Europe63.2%(-9.1%)
$129.79(-9.1%)
102.30(-5.2%)
84.46(+9.5%)
$82.05(-25.8%)
64.67(-13.8%)
53.39(-0.5%)
MiddleEast/Africa
74.9%(-3.7%)
$174.99(+11.0%)
137.92(+29.0%)
113.86(+49.0%)
$131.05(+7.0%)
103.30(+24.3%
)
85.28(+43.5%)
*percentages are increases/decreases for November 2008 vs.
November 2007
Highlights from key individual markets around the globe include
(percentages are November 2008 vs. November2007):
Largest occupancy decreases: Beijing, China (-32.1 percent to
49.9 percent); and Madrid, Spain (-20.1percent to 62.3 percent).
None of the 15 markets in the Key Market Index reported occupancy
gains.
In the Middle East/Africa region, Dubai is showing signs of
feeling the pinch from the global downturn. Itreported occupancy of
84.9 percent (-5.6 percent). Hotels in Dubai experienced an
8.8-percent decrease inADR and a 13.9-percent drop in RevPAR (based
on United Arab dirhams).
In Europe, four cities experienced occupancy losses of more than
20 percent: Lisbon, Spain (-26.0%);Barcelona, Spain (-25.7%);
Prague, Czech Republic (-21.9%); and Madrid, Spain (-20%).
In the Americas, New York experienced a 21.9-percent drop in
RevPAR and an 11.5-percent decline inADR (based on U.S.
dollars).
In the Asia/Pacific region, Tokyo, Japan, and Osaka, Japan,
experienced a 14.8-percent increase anda 10.3-percent increase in
ADR, respectively (based on the Japanese yen).
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Performances of key countries in November (all monetary units in
local currency):
Occupancy ADR RevPAR
Argentina 68.8% (-14.5%) ARS 526.09 (+15.1%) ARS 361.85
(-1.6%)Brazil 68.7% (+1.0%) BRL 206.04 (+18.9%) BRL 141.57
(+20.1%)Canada 59.5% (-4.7%) CAD 125.15 (+2.9%) CAD 74.46
(-2.0%)Mexico 57.5% (-11.6%) MXN 1371.11 (+13.5%) MXN 788.63
(+0.3%)United States 51.9% (-10.6%) USD 101.81 (-2.5%) USD 52.86
(-12.9%)Australia 79.7% (-5.7%) AUD 178.57 (+0.4%) AUD 142.40
(-5.3%)China 57.4% (-19.5%) CNY 814.63 (-9.3%) CNY 467.79
(-27.0%)India 69.3% (-6.8%) INR 9850.58 (-1.4%) INR 6826.71
(-8.1%)
Japan 77.5% (-6.0%) JPY 16602.04 (+11.0%) JPY 12864.40
(+4.3%)Singapore 77.9% (-9.2%) SGD 292.01 (+5.2%) SGD 227.43
(-4.5%)Germany 64.2% (-5.1%) EUR 86.36 (+3.6%) EUR 55.42
(-1.6%)Italy 54.2% (-13.2%) EUR 120.42 (-4.8%) EUR 65.30
(-17.4%)Russia 51.4% (-16.6%) RUB 7134.19 (+2.7%) RUB 3664.90
(-14.4%)Spain 56.3% (-18.0%) EUR 88.13 (-5.9%) EUR 49.60
(-22.8%)United Kingdom 70.5% (-6.2%) GBP 84.03 (-2.1%) GBP 59.27
(-8.2%)Egypt 83.6% (-6.6%) EGP 462.25 (+14.6%) EGP 386.23
(+7.1%)Israel 74.5% (+0.6%) ILS 619.88 (+31.2%) ILS 461.97
(+32.0%)Saudi Arabia 59.5% (+8.7%) SAR 832.88 (+52.3%) SAR 495.47
(+65.7%)South Africa 75.0% (-7.9%) ZAR 841.64 (+11.5%) ZAR 631.29
(+2.7%)
United Arab Emirates 85.2% (-4.9%) AED 1307.25 (+3.8%) AED
1113.74 (-1.3%)*percentages are increases/decreases for November
2008 vs. November 2007
For more information about this data, as well as market-specific
data, please visit www.strglobal.com.
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About STR & STR Global:For more than 20 years, Smith Travel
Research has been the recognized leader for lodging industry
benchmarkingand research. Smith Travel Research and STR Global
offer monthly, weekly, and daily STAR benchmarkingreports to more
than 36,000 hotel clients, representing nearly 5 million rooms
worldwide. STR is headquartered inHendersonville, Tennessee, and
STR Global is based in London. For more information, visit
www.strglobal.com.
Media contacts:Konstanze AuernheimerDirector of MarketingSTR
Global+44 (0)207 922 1961
Jeff HigleyDirector of Communications/Editorial Director,
Digital MediaSTR/STR
Global/[email protected]+1 (615)
824-8664 ext. 3318
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