The STR Global recently reported the Americas hotels performance results for August 2009. According to this article published by Hospitality.net , all three key performance metrics reported in US Dollars declined in August 2009.
The region
The markets for which the numbers are reported include: USA, Argentina, Brazil, Chile, Canada and Mexico.
Occupancy for the entire region dropped by 9.7% (reaching 61.1%) compared to last year, while the daily rate dropped by 10.2%. Also, the revenue per available room dropped to US$59.97 (18.9% decrease).
Among the markets, only San Juan (Puerto Rico) reported an increase in occupancy (to 81.7%). Three markets experienced decreased of over 20%: Buenos Aires (Argentina), Mexico City (Mexico) and Santiago (Chile), while Washington DC didn’t see any changes.
When it comes to the Average Daily Rate (ADR), Manitoba (Canada) reported a small increase, while Santiago and Washington DC reported a decrease of only 5%. Mexico City reported the highest decrease (30%), while New York saw a decrease of 27.1% (US$185.56).
The Revenue per Available Room (RevPAR) saw the same trend. While San Juan saw the smallest decrease, Buenos Aires, Mexico City, New York and Santiago experienced the highest decrease, of over 30%.
The reason
The results in August 2009 continue the trend reported by the industry in the past months. Demand has been showing signs of stabilization, as Mark Lomanno, president of STR, said, but the market is not back to the levels it was before the economic crisis.
Europe hotels
Across the Big Pond, in Europe, Italian hotels performed quite well in August. In Rome, the occupancy rate increased by 17.9% in August 2009 compared to last year but the markets in most European countries have a bleak future ahead. Vienna (Austria), Budapest (Hungary) and Prague (Czech Rep.) took the hardest hit in August 2009 as RevPAR declined by up to 25%.
It is estimated that the occupancy rate in Russia will drop by 26% by the end of 2009. Also, UK hoteliers expect the year to end with a decline as well, and hope to see an improvement in early 2010.
Related posts:
- U.S. Hotel Industry Posted Declines in Performance Measurements for the Week Ending on December 5
- Occupancy Rate in Anaheim jumped 2.3% in the First Two Weeks of October 2009
- Hotel Occupancy Rates in September – A Bit Better Than the Previous Months
- High Occupancy Level for London Hotels but Low Profit per Room all Over Europe
- Hotels in Italy Performing Better