Asia-Pacific leads way in hotel growth
01 February 2001
Hotels in the Asia-Pacific region were the fastest growing in the world last year in terms of revenue per available room (revpar), according to consultants Arthur Andersen.
Preliminary results from its Hotel Industry Benchmark Survey showed revpar in Asia-Pacific was 11% up on 1999.
Australasia suffered from the strength of the US dollar and the increase in hotel rooms in many of its cities. Revpar fell by 5%.
Europe suffered from the strength of the US dollar relative to the euro. Increases in occupancy were offset by falling average room rates and revpar looks set to drop by 1%.
Revpar in the Middle East and Africa is expected to be 3% up.
