Deloitte, the business advisory firm, has confirmed that the hotel industry continued to suffer during the first quarter of 2009 with a sharp decline in leisure and corporate travel. UK cities overall experienced a decline in revenue per available room (revPAR) by an average of £5 (9%).
In 1959, Berno H. Feuring was 21 years old and the youngest hotel director in Germany. He founded his own company in the same year and for 50 years now has - on behalf of hotel chains and investors - developed hotels mainly in the luxury segment and from the first idea to their opening. Amongst them are impressive names like Le Royal Méridien Hamburg, the Steigenberger Hotel de Saxe Dresden, Le Royal Mansour Casablanca or the Bristol in Warsaw, which was re-structured by Feuring. To this day, Feuring as a company has been involved in more than 400 hotel projects all over the world. In the following interview, the senior managing director talks about the special challenges in the hotel sector, his financial strategy as well as passing on the company to the next generation.
STR Global and Fairmas, the two leading providers of market information to the German hotel industry, report on the performance figures for the German hotel market. A year-to-year comparison of data for February 2009 shows all indices down for the country as a whole--average daily rate fell 0.7 percent, occupancy change was -7.4 percent and RevPar change was -8.1 percent. The relatively modest fall in rate was bolstered by a significant rise in year-on-year ADR for Cologne of 16.8 percent and insignificant decreases for Hamburg, -0.6 percent, and Berlin, -1.6 percent.
Spain's tourism sector will face further consolidation as structural problems and sharp falls in numbers of new visitors hit earnings, the co-chairman of the country's third largest hotel group said. "The sun and beach model isn't exhausted, but with low profitability, companies are increasingly less able to act and, in the long term, we will pay," Grupo Barcelo's Simon Pedro Barcelo said in an interview in Expansion on Tuesday.
London hoteliers are expected to see a 12.7% drop in revenue per available room (revPAR) by the end of 2009 according to Hotel Market Outlook, a quarterly report released by Deloitte. The report uses the outputs of an econometric model produced by an independent economic research group to produce forward looking changes in hotel performance.
Cannes | Some 18,000 delegates, spanning all sectors of the global real estate industry and representing 80 countries, leave Cannes today saying that MIPIM confirmed their belief that €15 trillion international property industry remains a solid long-term investment asset and that the industry is getting back to basics.