Average daily hotel rates for June increased year over year across all major global regions, except for the Middle East and Africa, according to STR Global.
Rates in the Americas were up 3.8 percent, and occupancy increased by 4 percent to 67.4 percent. The largest increases were in São Paulo, Brazil (34.6 percent) and Rio de Janeiro (18.7 percent). Although rates were up across all major U.S. markets, they dipped by 4.9 percent in Toronto.
Both rates and occupancy were up across Europe, leading to a 9 percent increase in revenue per available room, according to STR Global managing director Elizabeth Randall. The increases in several cities were significant, including Venice (35.2 percent), Paris (22.9 percent), Prague (18.3 percent), Düsseldorf (18.1 percent) and Amsterdam (16 percent).
Although occupancy in the Asia/Pacific region was nearly flat year over year, average daily rates increased by 13.3 percent. Significant supply growth, along with decreased demand following Japan’s earthquake and tsunami earlier this year, has hindered occupancy growth in the region, according to Randall. Hong Kong had the largest rate increase in the region, up 24.6 percent, followed by Bangkok (11.1 percent) and Jakarta (10.6 percent).
Rates decreased by 4.3 percent and occupancy by 9.7 percent in the Middle East and Africa, though a large portion of that drop is attributable to unfavorable comparisons in South Africa, which hosted the FIFA World Cup last year. Rates in the country overall were down 45.9 percent. Rates in Jeddah, Saudi Arabia, were up 12 percent, the largest increase for the region.
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