Hotel revenues going down

Hotel revenues going down

JAKARTA (JP): Revenue per available hotel room in both Jakarta
and Bangkok decreased over the past three years, while at the
same time increasing in other Southeast Asian cities, a hotel
consulting firm says.

The Asia-Pacific Hotel Investment Monitor, a publication
issued by the Hong Kong-based PKF Consulting, said that PKF is
ushering in a new measuring device for tracking hotel performance
in the region, called the Pacific Rim hotel index, or Paridex.

By using the new tool, it found that rates in Indonesia
declined from US$91.38 in 1991 to $78.58 in 1992 and $71.01 last
year.

The publication, whose initial volume was made available here
yesterday, said that Paridex is designed to depict the
performance of the hotel industry across the Pacific Rim.

The publication showed that the figures for Bangkok decreased
from $66.45 in 1991 to $58.32 in 1992 and $50.45 in 1993.

In Kuala Lumpur, the figure increased from $47.23 in 1991 to
$53.87 in 1992, but sank back to $50.35 last year.

Singapore alone posted a steady increase from $75.27 in 1991
to $78.34 in 1992 and $81.34 in 1993.

The report also noted that the hotel industries of Sydney and
Melbourne in Australia have declined for two or three years.

It said "the area of greatest current growth appears to be the
Northeast Asian sub-market. While Tokyo displays the greatest
Paridex in the entire Pacific Rim, the Beijing market is showing
the greatest relative rate of growth. Hong Kong and Taipei also
came on strong in 1993." (icn)