Press Releases
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.
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.
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.
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.
Adele’s residency drove substantial gains in Munich hotel performance
Adele’s 10-day residency drove significant performance growth for Munich’s hotel industry, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Hotelschool The Hague: 13% less business travellers to Amsterdam – but they stay 16% longer
Hotelschool The Hague announces insights from its first Yearly Outlook report, revealing that international business travel has fully recovered, surpassing pre-pandemic levels by 2% in 2024. This recovery marks a significant milestone for the global hospitality industry. In combination with key trends such as extended stays, shifts in accommodation preferences, and the rise of sustainable travel practices taking center stage. Authored by Jeroen Oskam, Director of the school's Research Centre, the report offers strategic insights for industry leaders entering a phase that is different from pre-pandemic times, driven by new developments in business travel.
Taylor Swift drove London hotel performance in August
London hotels saw a spike in hotel performance during Taylor Swift’s Eras Tour, according to August preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Poland's Rise in Popularity During the Shoulder Season
As travelers search for new, less crowded, and more affordable European destinations, Poland has emerged as a top choice. Once overshadowed by its more popular Western European neighbors, Poland is now attracting the attention of travelers during the shoulder season, a time traditionally considered less busy for tourism. This shift is driven by the growing desire for offbeat destinations that offer rich cultural experiences without the overwhelming crowds found in more famous spots.
Berlin Hotel Market Spotlight
Berlin is at the top of the list of the world's favourite destinations for city breaks, both in Germany and internationally. The hotel landscape is correspondingly lively - increasingly sustainable and with numerous modern, new and individual concepts.
After expecting a slight revival in the hotel investment market at the beginning of the year, our latest Hotel Market Spotlight for Berlin now looks at the hotel performance itself.
How have profits and revenues developed within a year (H1 2024 vs. H1 2023)? Have operating costs and expenses increased? And what proportion do wage and labour costs account for? Here are the key findings:
Spotlights
- Despite considerable cost pressure, the full-service branded hotels in Berlin recorded rising profits in the first half of 2024.
- The occupancy rate reached 71% in the first half of 2024, up from 68% in H1 2023.
- While utility costs fell by 23%, the overall operating expenses increased by 13%. Labor costs recorded the strongest growth of 10% compared to the previous year.
- Nevertheless, thanks to 4% revenue growth, the GOP (gross operating profit) per available room rose by 2%.
Christine Mayer, Partner, Valuation & Advisory Services:
'The revenue of hotels in Berlin continues to recover, underpinned by Berlin’s popularity as a tourism and business destination. It is good to see that this also translates into improved nominal profits despite the cost pressures. A good sign for hotel investors and operators.’
Access the full report here
Summer Olympics drove Paris room rates to all-time highs
The Summer Olympic Games drove Paris hotel average daily rate (ADR) to an all-time high, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.