Hotels in Asia Pacific are seeing rate increases, with Osaka leading the way.
Hotels in the Asia Pacific region, according to STR Global, had mostly positive results in July when reported in US dollars. homes The region's occupancy increased by 0.3 percent to 70.0 percent in July 2014; its average daily rate increased by 0.2 percent to US$112.44; and revenue per available room increased by 0.5 percent to US$78.73. "On a 12-month moving average basis, supply has increased by 3.7 percent while demand has increased by 4.8 percent in Asia Pacific," said Elizabeth Winkle, managing director of STR Global. "As a result of demand outpacing supply, we are seeing positive occupancy growth (+1.1%) in the area, with a 68.6 percent occupancy rate." Osaka has seen a solid rise in rate year to date (+16.6%) and one of the fastest RevPAR growths for the month (+18.9%) in local currency. Due to the depreciation of the yen and general economic growth, the city and Japan as a whole are improving," Winkle said. "Year-to-date RevPAR growth wa...