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All Regions Except Europe Show Strong Results in May
The global hotel industry performed well in May 2012, with only European destinations showing mixed results for the month.
Asia Pacific features year-over-year strong results – the occupancy added 2.3% to the level of 65.5% and the average daily rate increased 1% (US$135.85 in total). This helped to boost revenue per available room (RevPAR) by 3.3% to the level of US$88.94. Indian market is among outsiders this time as it has to cope with rapidly increasing supply and reduced demand caused by slowing down of economic development.
The largest increase of occupancy in the region was reached by hotels in Tokyo. Here the occupancy added 28.1% to 80.4%. The capital of Japan is followed by hotels in Phuket (Thailand). They featured the growth of occupancy of 19% to 60.9%.
Europe had more holidays this May comparing to the previous year. For example, this year’s Pentecost was in May, not June. This also contributed to declines during the month. However, there are also good signs of recovery. For example, the average room rate has grown over last 27 months. Some destinations show declines in RevPAR because of certain reasons. For example, in May 2011 hotels in Bratislava, Slovakia, welcomed guests of the 2011 IIHF Ice Hockey World Championship, so there’s no wonder why in May 2012 the city featured the decline of RevPAR of 42.9%.
Hotels in Reykjavik, Iceland, feature the highest growth in occupancy, 14% to 71.2%. The largest decrease is posted by hotels in Athens – minus 25.7% to 56.1%. Bratislava accommodations featured the second largest decrease of 14.1% to 55.6%. The markets with highest growth of revenues are Tel Aviv (Israel, +21.8% to 208.19 euro), hotels in Tallinn (Estonia, +19.2% to 70.51 euro), Helsinki accommodations (Finland, +18% to 120.61 euro), and Reykjavik (+17.2% to 99.46 euro).
The Middle East posted very positive results for May 2012. Occupancy added 13.3% to 60.4%, but the average daily rate fell by 1.6% to US$146.32. However, this didn’t prevent RevPAR from growth, which added 11.5% to US$88.39.
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