2019 ended on a sour note for UK hotels. According to HotStats data, December marked the third consecutive month of year-over-year profit per available room decrease, as GOPPAR was down 0.9%. In sum, there were nine months in 2019 that saw YOY GOPPAR contraction.
With this latest report from Horwath HTL Italy, we shed light on the world of CapEx in Italian Hospitality. The report covers in detail the cost of building, converting and renovating hotels and resorts in Italy. With data collected from over 50 projects over the last five years, the report represents five thousand hotel rooms, worth a collective half a billion Euros.
STR's preliminary December 2019 data for hotels in London indicates lower occupancy but higher rates.
Revenue growth hasn't been an issue for UK hoteliers this year. It's driving profit that has them frustrated. In a tale that is becoming all too common for the region, RevPAR at UK hotels was up in November, but profit against the same time last year was negative, according to data from HotStats. RevPAR grew slightly 0.3% YOY, while GOPPAR was down 1.8% YOY, illustrating the sometimes incongruous relationship between revenue and profit.
STR's preliminary November 2019 data for hotels in London indicates slightly lower occupancy but higher rates. Based on daily data from the month, London reported the following in year-over-year comparisons:
Like the three that preceded it, the final quarter of 2019 started with a year-over-year fall in profits per available room in the UK, according to data from HotStats. The 5.3% YOY drop in GOPPAR in October was only surpassed by the 9.4% plunge recorded in April, and marks the seventh month in the year to record a YOY contraction in profits.
Madrid is more than ever capturing the interest of international hotel investors. The hotel supply pipeline - including many international Upper Upscale and Luxury hotel brands - will significantly change the city's landscape and tourism appeal. For some hotel groups, these projects will be their first hotel in Spain's capital city, a presence that is clearly of great importance in one of the largest cities in Europe. The capital's hotel market is in good shape and it looks like there will be room for further improvement.
STR's preliminary October 2019 data for hotels in London indicates lower demand but high room rates.Based on daily data from the month, London reported the following in year-over-year comparisons:
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.
AlixPartners, STR and HVS have published the Q3 2019 UK Hotel Market Tracker. The Hotel Market Tracker analyses performance, supply and transactions in London and the UK regions.
The third quarter ended on a positive note for UK hotels as profit per available room increased on a year-over-year basis for the second consecutive month, according to data from HotStats. The 1.6% YOY GOPPAR boost hints towards what hoteliers hope will be the turnaround of an otherwise unremarkable year.
Trading in Q3 for UK hotels has again showed a considerable contrast between those in London compared with the Provinces, according to the latest UK Hotel Market Tracker: Q3 2019, produced by HVS London, AlixPartners and STR.
Click&Boat, Europe's leading yacht charter platform, has acquired Océans Evasion, a French competitor based in Lorient, Brittany.
STR's preliminary September 2019 data for London indicates high performance helped by a busy events calendar.Based on daily data from the month, London reported the following in year-over-year comparisons:
Portugal is currently trending as one of the key tourism hotspots in Europe; and the country's most recent hotel performance confirms this. The most important players in the tourism industry - whether family offices, private and institutional investors or hotel operators - have one or two projects in their sights or in their pipeline, raising the profile of urban, rural and coastal destinations across the country.
Ahead of next week's EXPO REAL trade fair, STR conducted an analysis on the correlation of growth in Germany's GDP and hotel revenue per available room (RevPAR). In addition, forecasts from STR and Tourism Economics project German hotel markets to see higher RevPAR in 2020, despite occupancy declines and the uncertainty around an economic recession.
Our UK Hotels Forecast 2019-2020 has launched today - download your copy. As with previous years, we assess the performance of the hotels sector over the last 12 months and consider future industry trends. The forecast at a glance This year, our forecast suggests the hotel industry is at a pivotal point.
Profit per room at UK hotels increased year-over-year for only the second time this year, but hoteliers will take it. GOPPAR in August increased 0.6% YOY, the first positive growth since it grew 11% YOY in June. The rest of 2019 had been a GOPPAR dud. Hoteliers now hope it's the start of a winning streak.
The Hotels & Chains in Switzerland 2019 report by Horwath HTL reveals that the chain penetration rate by key is already at over 26% and growing fast. 38 chain hotels with roughly 4,800 additional keys will be added to the existing supply in the next three years.
Preferred Hotels & Resorts, the world's largest independent hotel brand representing more than 750 hotels, resorts, and residences across 85 countries, is pleased to welcome The Londoner as the newest experience within the brand's esteemed Legend Collection. With The Londoner set to launch in spring 2020 as the U.K.'s most anticipated opening of the year, this new partnership demonstrates the company's commitment to welcoming independent hotels that go beyond well-appointed guestrooms and best-in-class facilities by offering one-of-a-kind, immersive experiences that are reflective of local culture.