In a scenario that's becoming exceedingly familiar, and one that illustrates the frequent occurrence of revenue and profit misalignment, RevPAR at hotels in the UK hit a high in July, but GOPPAR turned negative, sapped by rising costs, according to the latest data tracking hotels from HotStats.
KPMG UK research finds that 30% of the UK public have changed their spending as a result of Brexit uncertainties1. A fifth (22%) have avoided making big ticket purchases with almost one in ten (9%) missing out on overseas holidays and 6% avoiding investing in the economy via stocks & shares. Meanwhile, 8% of people have put more money into savings 'just in case'.
STR's preliminary July 2019 data for London indicates significant performance levels. Based on daily data from the month, London reported the following in year-over-year comparisons.
Known for its impressive mosques, mausoleums and fascinating links to the Silk Road, Uzbekistan, a former Soviet republic, has now become Central Asia's biggest draw for its show-stopping architecture and ancient sites. The new government has opened its doors to tourism, with an easier visa process and regular flights into the capital.
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.
London recorded continued strong growth in Q2 2019, as hoteliers pushed rates for visitors travelling to watch the ICC Cricket World Cup. In contrast, regional RevPAR decreased for the second consecutive quarter, even with numerous matches being hosted outside of the capital. The combination of top line retraction, costs pressures, and unrelenting new supply is putting significant pressure on regional hotel margins.
June was a banner month for UK hotels. Profit performance hit a peak for the year as the typically strong month was boosted by the Cricket World Cup, according to the latest data tracking hotels from HotStats.GOPPAR for June was up 10.8% year-over-year, hitting £75.47, which is a recent high and 61.5% above the year-to-date figure.
With just 468 km2 of surface, Andorra is a small tourist paradise that offers an infinity of activities to its visitors, both in winter to enjoy its ski resorts, and in summer to enjoy all its hiking and nature routes, without forgetting the wide range of commerce available.
STR's preliminary June 2019 data for London indicates strong performance levels.Based on daily data from the month, London reported the following in year-over-year comparisons:
Horwath HTL and ABN AMRO present the Dutch Hotel City Index 2019, a ranking of the top 15 cities in the Netherlands for hotel investors. The index shows which cities boast the best hotel investment climate, based on scores in six categories: hotel demand, hotel supply, sustainability, economy, demographics and the real estate market.
Despite RevPAR growth, an increase in costs continued to chip away at profit levels at hotels in the UK in May, according to the latest data from HotStats.
STR's preliminary May 2019 data for London indicates higher room rates.
Hotels in the UK suffered their largest margin of year-on-year profit decline since late 2016, as ancillary revenues fell and costs soared in April, according to the latest data tracking full-service hotels from HotStats.
New analysis from KPMG UK finds the rising prominence of so-called 'zombie firms' - companies under sustained financial strain - is threatening to cause a significant drag-effect on the UK economy with more than one in ten private businesses in the travel and leisure sector affected.
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.
The tourism industry in Ireland is valued at over €9bn supporting one in ten jobs in the country. The sector has seen significant growth over the last decade, with international visitor numbers alone increasing by over 30% (from the previous peak in 2007) to over 10 million visitors in 2018. Ireland is a leading tourist destination, enriched with history and culture and with continued improvements in infrastructure and access, the outlook for the hospitality sector remains positive. This report, written by Naoise Cosgrove of Horwath HTL Ireland, provides an insight into Ireland's dynamic tourism and hospitality market.
Europe's hotel industry reported mostly positive results in the three key performance metrics during Q1 2019, according to data from STR.Euro constant currency, Q1 2019 vs. Q1 2018Europe
Poland is not only gradually reducing the distance to the richest EU countries but is now in the elite group of the 25 most developed economies in the world. Ranked 36th in the world, in the level of globalization, measuring 169 countries using the Global Connectedness Index, Poland has increasing ADR and occupancy of hotels in major cities, which in turn is encouraging investors to open new hotels.
STR's preliminary March 2019 data for London indicates strong performance.Based on daily data from the month, London reported the following in year-over-year comparisons:
The UK hotel industry is off to a rough 2019. At least on the profitability spectrum. A slight increase in RevPAR in February was not enough to push hotels into the black, as the UK suffered a second consecutive month of profit decline, according to the latest data tracking full-service hotels from HotStats.