Asian Hotel Market Sees Strong Growth

9th August 2007 (Last Updated August 9th, 2007 08:51)

The Asian hotel market is seeing much stronger growth than last year, according to Deloitte's latest HotelBenchmark survey. Room revenue per available room (revPAR) across the region is up 14.1% to $97 for the first half of 2007, compared with 9.4% growth over the same period last year.

The Asian hotel market is seeing much stronger growth than last year, according to Deloitte’s latest HotelBenchmark survey.

Room revenue per available room (revPAR) across the region is up 14.1% to $97 for the first half of 2007, compared with 9.4% growth over the same period last year.

The average regional room rate is $137.

Bali achieved the highest revPAR growth of 58.6%, followed by Ho Chi Minh City in Vietnam at 49% and India’s Mumbai with 46.7% growth.

Mumbai also has the highest room rate in Asia at $253 per night.

However, occupancy in Bangkok is down 7.8%, largely due to the unstable political situation, the New Year bombings and problems at Suvarnabhumi Airport, which have restricted international flights.

HotelBenchmark executive director Lorna Clarke says the growth of low-cost airlines is making the region more accessible, encouraging tourism.

“Ten years on from the start of East Asia’s financial crisis regional economies are performing well, match this with greater intraregional business travel and you can see how hoteliers are able to continue to push average room rates upwards,” she says.

Reported by Elizabeth Clifford-Marsh