STR Global: Asia/Pac Result for November 2014
Hotels in the Asia Pacific region experienced performance decreases during November 2014 when reported in US dollars, according to data compiled by STR Global.
In November 2014, the region’s occupancy was down 0.4 percent to 72.2 percent; its average daily rate fell 3.0 percent to US$115.70; and its revenue per available room decreased 3.4 percent to US$83.48.
“In US dollar terms, Asia Pacific as a region is showing a decline on RevPAR rates. However, when looking at it on a constant-currency basis, the region has increased by 0.7 percent”, said Elizabeth Winkle, managing director of STR Global. “Australia has performed very well in 2014 and will end the year on a positive note, with strong performance in cities such as Melbourne and Sydney reporting year-to-date RevPAR growth of 5.8 percent and 4.6 percent, respectively (when reported in local currency)”.
(Read more at: Hotelnewsnow.com)