STR Global Reports Worldwide Hotel Performance Results For April 2009

---

(News Source: STR Global)

The Americas

(LONDON & HENDERSONVILLE, TN) -- The Americas region reported declines in all three key performance metrics when reported in U.S. dollars for April 2009, according to data compiled by STR and STR Global.

Occupancy for the region dropped 11.3 percent to 56.5 percent; average daily rate dropped 10.0 percent to US$99.66; and revenue per available room dropped 20.1 percent to US$56.33.

Among the key markets, two reported occupancy decreases of less than five percent: New York, New York (-4.7 percent to 79.7 percent), and Manitoba/Saskatchewan, Canada (-4.6 percent to 66.5 percent). Mexico City, Mexico, reported the largest occupancy decrease, down 40.0 percent to 42.2 percent. Three other markets reported occupancy decreases of more than 20 percent: Buenos Aires, Argentina (-25.5 percent to 54.5 percent); Santiago, Chile (-23.0 percent to 62.8 percent); and Sao Paulo, Brazil (-20.3 percent to 54.3 percent).

Nassau, Bahamas, was the only key Americas market to report an increase in ADR, when measured in U.S. dollars, was up 9.1 percent to US$369.66. Four markets reported ADR decreases in of more than 20 percent: New York (-25.5 percent to US$203.58); Toronto, Canada (-24.7 percent to US$106.68); Mexico City (-23.0 percent to US$105.49); and Montreal, Canada (-21.6 percent to US$102.48).

Nassau was the only market to report a single-digit RevPAR decrease, down 7.6 percent to US$238.47. Mexico City reported the largest RevPAR decline, falling 53.8 percent to US$44.57. Three additional markets reported RevPAR decreases of more than 35 percent: Santiago (-38.3 percent to US$86.97); Toronto (-35.2 percent to US$61.85); and Buenos Aires (-35.1 percent to US$79.25).

---

Asia / Pacific Region

Hotels in the Asia/Pacific region reported double-digit decreases when reported in U.S. dollars for all three key performance metrics for April 2009, according to data compiled by STR Global.

The Asia/Pacific region's occupancy dropped 14.3 percent to 59.2 percent; average daily rate declined 20.1 percent to US$117.10; and revenue per available room fell 31.5 percent to US$69.36.

"The Asia/Pacific region, along with the Middle East, has come into a similar cyclical movement as Europe and North America--but there are a few highlights still," said James Chappell, managing director of STR Global. "Bali, Indonesia, increased 21.5 percent in RevPAR (in local currency), and Seoul, South Korea, reported a 16.3-percent increase (in local currency) in the measure."

Among the key markets, Seoul, South Korea, was the only market to report an increase in occupancy, which was up 10.5 percent to 83.3 percent. Bangkok, Thailand, reported the largest decrease in occupancy, which dropped 33.6 percent to 44.3 percent.


Bali, Indonesia, reported the largest increase in ADR, which rose 17.4 percent to US$123.39. Two other markets reported increases in ADR: Tokyo, Japan (+10.9 percent to US$227.09), and Osaka, Japan (+5.8 percent to US$122.82). Mumbai, India, led the ADR decreases, dropping 41.1 percent to US$163.30. Other markets that reported ADR decreases of more than 30 percent include: New Delhi, India (-38.6 percent to US$174.29); Beijing, China (-32.3 percent to US$97.48); and Sydney, Australia (-31.3 percent to US$119.92).

Bali was the only key market to report a RevPAR increase (+5.0 percent to US$78.83). New Delhi reported the largest decrease in RevPAR, which dropped 52.7 percent to US$101.33. Three other key markets that reported large RevPAR decreases include: Mumbai (51.4 percent to US$95.56); Beijing (-51.2 percent to US$50.46); and Bangkok (-47.0 percent to US$39.74).

---

Europe Region

The European hotel industry reported mixed year-over-year results when reported in U.S. dollars, euros and British pounds for April 2009, according to data compiled by STR Global.

Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to single-digit gains, depending on the market and the currency used for comparison.



"Across Europe, RevPAR for the month fell by double digits as a result of the Easter holidays. But because we did not see a year-over-year rebound in March (Easter occurred in March last year), we expected the numbers to be worse," said James Chappell, managing director of STR Global. "Italy and Spain reported similar RevPAR declines as in March, which is a good sign of possible stabilization. Other countries like Belgium, Germany, the Netherlands and the U.K., however, reports higher declines this month as expected."

Key year-over-year market performers for April include (all currency figures are in euros):

• Edinburgh, Scotland, reported the largest increase in occupancy among the key markets, rising 7.3 percent to 76.8 percent.

• Three key markets reported occupancy decreases of more than 30 percent: Geneva, Switzerland (-33.1 percent to 50.7 percent); Düsseldorf, Germany (-31.8 percent to 47.6 percent); and Tel Aviv, Israel (-30.7 percent to 58.2 percent).

• Salzburg, Austria, reported the largest increase in ADR, which was up 28.9 percent to €126.49. Tel Aviv also reported a double-digit increase in ADR, which rose 23.0 percent to €193.51.

• Düsseldorf reported the largest decrease in ADR, which was down 46.5 percent to €79.85. Moscow, Russia, followed with a 38.0-percent decrease in ADR to €168.70.

• Salzburg was the only key market to increase in RevPAR. It was up 28.1 percent to €66.05.

• Seven markets reported RevPAR decreases of more than 40 percent: Düsseldorf (-63.5 percent to €38.05); Geneva, Switzerland (-46.8 percent to €100.47); Moscow (-45.6 percent to €106.76); Frankfurt, Germany (-43.6 percent to €50.81); Oslo, Norway (-41.0 percent to €53.39); Gothenburg, Sweden (-40.9 percent to €42.56); and Stockholm, Sweden (-40.9 percent to €53.16).

---

Middle East / Africa Region

The Middle East/Africa region reported declines in all three key measurements in year-over-year results when reported in U.S. dollars for April 2009, according to data compiled by STR Global.

The region's occupancy dropped 13.0 percent to 66.8 percent; average daily rate decreased 1.3 percent to US$164.41; and revenue per available room decreased 14.1 percent to US$109.80.

"It is getting harder to find a positive angle in the Middle East/Africa performance data," said James Chappell, managing director of STR Global. "The region, which had been insulated somewhat from the effects of the global economic recession in the past, now seems just as susceptible as are the other three global regions. Still, the region reported the highest achieved RevPAR for the month at US$109.80 and the softest growth decline (-14.1 percent) in that measure."

Highlights from key markets in the Middle East/Africa region (percentages are April 2009 vs. April 2008):

• Beirut, Lebanon, reported the largest increases in all three key metrics. It was up 84.5 percent in occupancy to 78.5 percent, it rose 36.9 percent in ADR to US$173.73 and it increased 152.5 percent in RevPAR to US$136.30.

• Three markets reported occupancy decreases of more than 20 percent: Johannesburg/Pretoria, South Africa (-26.6 percent to 53.4 percent); Riyadh, Saudi Arabia (-23.4 percent to 65.6 percent); and Muscat, Oman (-21.7 percent to 61.1 percent).

• Aside from Beirut, three other key markets reported double-digit increases in ADR: Jeddah, Saudi Arabia (+23.3 percent to US$176.53); Amman, Jordan (+13.4 percent to US$155.17), and Muscat (+12.7 percent to US$296.17).

• Istanbul, Turkey, reported the largest decrease in ADR, which was down 26.7 percent to US$194.12. Istanbul also reported the largest RevPAR decrease, falling 32.2 percent to US$139.54.

---