Imagine a river. It runs pleasantly through fields that rely on it for irrigation. It quenches the thirst of people who could always use more water. Now, imagine that river is about to be flooded with rain, a sea of rain. Will the locals catch that water and contain it? Or will they be overwhelmed?
The article investigates the primary tourism drivers, hotel performance, tourism development plans and the outlook for the tourism industries of the world's most luxury resort destinations, the Seychelles, the Maldives & Mauritius. The tropical paradise islands of the Seychelles, the Maldives & Mauritius have long been regarded as three of the most luxury resort destinations in the world. This article investigates the primary tourism drivers of each of these Indian Ocean island idylls, their hotel performance, tourism development plans and the outlook for their tourism industries.
The last decade witnessed some far-reaching and significant changes in the way business is conducted in the Indian Hospitality spectrum. Regardless of the recent year's contentious and challenging economic climate, the hospitality landscape continued to evolve, and new international hotel brands entered the Indian subcontinent. Needless to say, in its effort to stay one step ahead, the growing sector had to work twice as hard and revolutionise its business and human resource (HR) strategies. HVS Executive Search provides an outline of the key HR trends we believe have been the drivers of the hospitality sector in the last few years and will continue to play a dominant role going forward.
Peter Hildebrand is the General Manager of W Hong Kong. He is an ambitious and driven man, who would not settle for just an ordinary career path. He is from Australia and has spent most of his career in Asia. He has an indepth understanding of the Chinese culture and speaks the language. Perhaps, he understands the Chinese culture better than other Westerners who are living and working in Hong Kong or in the Chinese mainland. Peter likes nontraditional luxury hotels, which explains why he ended up leading the W Hong Kong.
The increasing popularity of outbound tourism in China has aided the tourism industry elsewhere in the Asia-Pacific region; however, China's inbound tourism has struggled. Hong Kong received 14.5 million visitors in the third quarter of 2013, reflecting an 11.1% year-on-year (YOY) growth from 2012. Mainland China continued to be the largest source market, accounting for 77.8% of visitor arrivals (11.3 million), up 15.8% YOY. Russia posted the highest YOY growth of 22.0% among source markets, aided by increasing numbers of outbound Russian travellers with higher disposable incomes and a relatively stable economy.
The State Ranking Survey, conducted for the first time by HVS in 2009, was the first-ever initiative to assess the competitiveness of various states within India from the hospitality industry's viewpoint. In our inaugural report, our objective was to apply an analytical approach in order to identify the gaps in the Travel and Tourism industry, and highlight initiatives or inattention by the different state governments in India. That this effort will encourage the state governments and the political leadership therein to take a more favourable stance towards the industry has always remained our conviction. It is indeed a positive reaffirmation to see that a number of state governments have implemented constructive measures and shown commendable progress, evident from the latest rankings revealed in this report. Five years hence, HVS is pleased to present its third edition – State Ranking Survey 2013.
Our article quantifies the impact of the recent infrastructure listing announcement on a typical hotel investment and the benefits to both investors and banks. The inclusion of hotels with a development cost of over `200 crores and convention centres with a development cost of over `300 crores to the infrastructure lending list early October comes as a welcome step for an industry that has always been saddled with high interest rates, short repayment terms and consequently high debt service payments, all of which have been further exacerbated by the economic downturn. According to the Gazette issued by the Finance Ministry, the development cost thresholds include interest during construction but exclude land cost and lease charges.
The critical challenges as identified by the owner community (Addendum) bear a strong correlation to a hotel's typical life cycle. While some of these challenges are self-created, others are beyond an owner's control. Either way, these set an incorrect precedence for new hospitality ventures, reflecting poorly on the Indian hotel industry at large.
Hong Kong, which recently ranked 15th in the World Economic Forum Travel & Tourism Competitiveness Index 2013, received more than 12.7 million visitors in the first quarter of 2013, reflecting a 13.5% yearon-year (YOY) growth from 2012. The MainlandChinese market accounted for 74.6% of total visitor arrivals, which registered a YOY growth of 20.3%. The Russian market posted the second highest YOY growth of 22.5%, attributable to the Hong Kong Tourism Board's promotional efforts in the country.
Rich in natural resources and experiencing an era of dynamic economic progress, Indonesia is a market not to be missed. Tourism arrival is expected to increase from the current 250 million in 2012 to an estimated 400 million by 2023 based on a 5% compound annual growth rate. An additional 100,000 guestrooms will be required, translating to an estimated 700 to 800 hotels to be built in the next decade, creating tremendous opportunities for developers, investors, financiers, hotel management groups, airlines companies, travel agencies, consultancies and other stakeholders.
The fourth edition of the India Hotel Compensation Study© includes salary data from 196 hotels across 54 cities in India, reporting on 70 positions across the entire hotel hierarchy. The India Hotel Unit Compensation Study ©, is designed to provide you with current and credible information concerning salary trends across all job roles in a hotel hierarchy. The survey findings will assist you in benchmarking salary, and accordingly structure compensation. Thus, enabling you to manage businesses better and allow companies to attract and retain talent through equitable compensation practices. The study which was conducted across all hotels in India includes data from 196 hotels across 54 cities in India, reporting on 70 positions across the entire hotel hierarchy.
The article summarises the interesting results of the pioneering hotel owner's survey conducted by HVS India, with a diverse sample set collectively representing 20,863 rooms. We hope this pioneering effort will serve as the voice of this important industry stakeholder and highlight his/her views, perceptions and some very pertinent concerns that need to be addressed.
China’s hospitality industry is reaping the rewards of the current tourism boom. Analysts are reporting positive market performance and record hotel construction pipelines. Is this level of growth sustainable ? We asked Giovanni Angelini, retired CEO of Shangri-La, founder of Angelini Hospitality and Vice Chairman-advisor to Dusit Overseas Company, for his seasoned perspective.
The Hong Kong market continues to make waves for its outstanding occupancy performance year after year. Owners are exuberant when hotel management fills their properties. But is it really a time to bask in glory?
Continued involvement from the Seychelles Tourism Board and limited supply in the pipeline will enable the Seychelles hotel market to rebound in 2012 from contractions witnessed in preceding years. Tourist visitation has shown a compound annual growth rate (CAGR) of 3.25% between 1998 and 2011. Seychelles witnessed a 9.3% growth in tourism arrivals in 2006 and 14.7% in 2007.
The Trends & Opportunities report assesses key trends in the market performance of 13 major Indian cities and presents HVS' outlook of the markets' performances in the near future. It also utlines existing and future opportunities in the hospitality industry of specific interest to investors, developers and hotel operators. This report is generated after analyzing the results of the Trends & Opportunities Survey conducted by HVS annually; the survey collates data related to key hospitality industry operational characteristics.
Despite turbulence in the global economy, 2011 was a triumphant year for the region, with markets setting new records. In this update: tourism trends, hotel market performance and the China Outbound Market. Much has been said about the China outbound tourism market and its potential economic impact in the past year.
This research article is intended to provide answers to perhaps the most frequently-asked questions in the past 15 years that HVS New Delhi has been operational. Around mid-last-year, during one of my trips to the Tourism Ministry, I was once again asked if HVS could carry out some research to scientifically quantify the number of hotel rooms required in the coming years; and also determine the potential employment generation that was likely to result from the addition of these rooms. We have put together all our available resources and databases of historical data to estimate these numbers and have further estimated the total capital requirement for this growing sector till 2021.
What will be the key legal issues facing the hotel industry in China next year? We asked Dr. Ulrike Glueck (pictured) , Managing Partner of the Shanghai office of the international law firm CMS, and her Senior Associate Hugh Zhou, to share their expectations with The Hotel Yearbook. What will be the key legal issues facing the hotel industry in China next year? We asked Dr. Ulrike Glueck (pictured) , Managing Partner of the Shanghai office of the international law firm CMS, and her Senior Associate Hugh Zhou, to share their expectations with The Hotel Yearbook.
“China is no longer the ‘sleeping giant’ in the outbound travel and tourism business,” says Giovanni Angelini, former CEO of Shangri-La Hotels and Resorts and now head of Angelini Hospitality in Hong Kong and Vice Chairman of Dusit Overseas Company Ltd. It is fully awake, and in a very short period of time has become the fastest-growing travel market in the world. With his in-depth knowledge of the region, this seasoned executive gives the Hotel Yearbook a practical and useful overview.