
Hotels in Asia Pacific continue to suffer under the current global economic crisis with revenue per available room (RevPAR) declining about 30% during the first quarter of 2009 with occupancy and average room rates falling 15% and 17.4%, respectively.
Occupancy in the Asia Pacific region hovered around 57.9% while average room rates fell US$26, resulting in a RevPAR decline of US$30 to US$69 at the end of the first quarter of 2009. In terms of hotel performance, Asia Pacific was the second most affected region in the world following Europe.
Double-digit declines in RevPAR have been witnessed in most markets across the region, with Indian cities worse off. In Mumbai, RevPAR fell 53.2% to US$112 in the first quarter of 2009.
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