Resilient UK Hotel trading performance in 2024 despite rising costs
The UK hotel sector rebounded closer to pre-pandemic levels of occupancy and improved profitability in 2024 despite rising costs, according to new research from Knight Frank.
Markets & Performance
Milan Hotel Market Spotlight YE SEP 2024
The sample of branded full-service hotels in Milan recorded a decrease in profit during the 12 months running to September 2024. The GOP per available room (PAR) decreased by -5.4% due to a 1.7% revenue decrease and a marginal rise in expenses (+0.7%).
Mix of events drove Paris room rates to January high
New Year’s celebrations and multiple events pushed Paris hotel average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs for January, according to preliminary data from CoStar. CoStar is a leading global provider of commercial real estate data, analytics and news.
Performance Greek Hospitality Industry Performance Q4 2024
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
Switzerland Tourism Decline: Causes, Future Outlook and Strategic Solutions
The International Tourism in Switzerland Conference, hosted by EHL Hospitality Business School on November 22, 2024, addressed the significant decline in Switzerland's ranking as a tourist destination—from 5th in 1950 to 28th in 2022. The conference aimed to understand the reasons behind this change, explore future evolutions and develop strategies to influence this trend. Various tourism stakeholders, including policymakers, industry experts and academics, gathered to discuss the current state of international tourism in Switzerland. The discussions covered a wide range of topics, from tourism policies and digital transformation to the impact of COVID-19 on cities and sustainability initiatives.
By Ronald Sone, Research Assistant, EHL
Munich hotels posted record high December room rates
Munich’s hotel industry reported its highest December average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
HOSPITALITY INDUSTRY REPORT: Unlocking guest loyalty and bridging the rebooking gap
The cost of living has sky-rocketed in the UK, with 92% of households reporting a rise in their living costs.
Watch HVS' latest webinar on the impact of Regulation and Policy on the UK Hotel Sector
Our 22nd webinar, held on 10 December, explored the impact of the 2024 Budget on the hospitality sector, highlighting concerns about increased costs from rising NI contributions and thresholds, minimum wage increases and business rates, with one of our experts noting that these changes could lead to a 10% increase in payroll costs, necessitating a 5%-7% revenue growth to mitigate the impact.
PwC: UK Hotels Forecast 2024 - 2025
The outlook for UK hotel market demand in 2025 appears to suggest a generally positive picture. While the below average UK GDP growth of 1.6% in 2025 could dampen UK domestic business and leisure demand, UK interest rates are predicted to reduce resulting in a weakening pound. This could boost inbound tourism with the relative affordability of the UK for international travellers.
Travelodge Group Q3 performance in line with expectations against the market backdrop
Travelodge Group, the UK’s first budget hotel brand which operates more than 600 hotels, today announces its results for the nine months ended 30 September 2024. Travelodge delivered a 0.5% increase in revenue to £786.1 million (2023: £782 million), reflecting resilient market demand from its diverse range of leisure and business customers, albeit with a more challenging rate environment. The Group reported a comparable Group EBITDA of £187 million and Travelodge OpCo delivered a comparable EBITDA of £178 million (2023: £195.2m), while navigating ongoing inflationary pressures, including successive increases in the National Living Wage, rent reviews and energy costs.
Expanding Airbnb-friendly Real Estate: New opportunities for renters and homeowners
Two years ago—in partnership with some of the largest real estate companies in the US—we launched Airbnb-friendly Apartments (AFA) to help renters locate apartment buildings that would allow part-time hosting, something previously difficult to find. Since that time, we’ve been hard at work continuing to grow the program and today, we’re excited to announce the expansion of AFA underneath Airbnb-friendly Real Estate, which now also includes Airbnb-friendly Condos (AFC).
Performance Greek Hospitality Industry Performance Q3 2024
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry.
French Hotel Market Outlook 2024
France has been the world’s top tourist destination for over three decades. Millions of international visitors are drawn to explore the country’s abundant natural beauty and remarkable architectural heritage each year.
Kylie fever hits UK hotels as bookings and ADR surge ahead of 2025 Tension tour: SiteMinder
Hotels in cities across the UK are experiencing a significant boost in bookings and average daily rates (ADR) as Kylie Minogue’s 2025 Tension tour approaches, according to new data from SiteMinder, the world’s leading hotel distribution and revenue platform.
Berlin hotels posted all-time high performance for September
The 2024 International Trade Fair for Transport Technology (InnoTrans) pushed Berlin’s monthly average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Zleep Hotels in Denmark signs agreement with Marriott International to rebrand its properties
After founding and developing the Zleep Hotels brand, CEO Peter Haaber has entered an agreement with Marriott International through his hotel management company, Core Hospitality, to rebrand its 14 Zleep Hotels properties in Denmark to the Four Points Flex by Sheraton brand. The majority of the hotels are expected to be fully rebranded in December of this year, with the rest following in early 2025.
London Market Pulse 2024 – Investor Confidence Renewed
Snapshot of the London hotel market in 2024 with an exploration of tourism demand, hotel performance, hotel supply, the investment market and the market outlook.
By Luisa Russell and Cassandre Pene