The projections for 2014 are positive. Hotels throughout the regions are reporting an increase in booking pace. RevPAR in the Dublin market is forecast to continue to increase, albeit at a slower pace.
2014 is an election year, so until after June, not much is expected in additional investment and economic activity. Spa, particularly wellness, and to a smaller degree medical tourism remain a clear attraction, with Hungary sitting on the largest supply of thermal springs in Europe.
Germany is a beacon for foreign investors, given its strong economy and tourism outlook. Cities on the radar are Berlin, Düsseldorf, Frankfurt, Hamburg and Munich, where 70% of the investments in Germany are made.
Historically, the evolution of French RevPAR has been influenced by the growth in GDP and major events like the soccer World Cup in 1998 or the rugby World Cup in 2007. No such major event is scheduled in France before the soccer Euro in 2016 and the Ryder Cup in 2018. However, the perspective for 2014 is rather better than in 2013.
Despite predictions of its demise as an international business center by its competitors and detractors, Cyprus is determined not to waste this crisis, but to turn it into an opportunity to become a more competitive jurisdiction.
Given a weak economic outlook projected for 2014, tourism receipts are expected to continue playing an important role, helping the current account balance. However, with the major European markets reviving, we expect to see continuous moderate growth of tourism overnights in Croatia.
Following the flat economic growth of 2013, the economy’s projected growth in 2014 is expected to be visible in the development of the demand for hotel rooms in Belgium as well. The growth rate for national room nights is expected to remain relatively low in 2014, but to increase more in the following years. As a result, both occupancies and average room rates are expected to increase, in Brussels as well as in the rest of the country.
As for the tourism outlook for 2014, Austria will continue its positive trend. This strong performance is driven by factors like tourism infrastructure and health & hygiene standards. Austria´s rich cultural resources, the affinity of the Austrians for tourism, sustainability and environmental issues will foster its excellent international reputation. It is also likely to become the predominant destination for spa and medical tourism purposes.
According to HORWATH HTL, 2013 will be a year when most European hotel markets finally emerge from the doldrums they have been in for the past 4 years. That’s not to say the situation will be rosy – far from it. But the indicators are looking better than they have for quite some time. To get an idea of the outlook in the key markets across the continent, The Hotel Yearbook asked 13 different offices of Horwath’s international network to contribute their professional assessment of where we are and where we are going.
2012 marks the transitional period between the new and old hotel norms. To avoid any misinterpretation, we have chosen to segment our statistics by positioning, rather than category. We have divided the market into five groups: Luxury, Upscale, Midscale, Budget and Super Budget. The characteristics of each group are presented on page 13 of this document. The economic slowdown apparent at the end of 2011 was confirmed at the start of the new year. Luxury hotels in Paris and on the Côte d'Azur were the only ones to experience RevPAR growth. A number of cities did manage to limit the damage, although for the most part, performances stagnated. Moreover, double-digit RevPAR drops were even recorded in some towns.
This article provides a snapshot of the performance of Greek hotels based on a sample of more than 180 hotels & resorts in Greece. The hotel performance data is complemented by data from other sources so as to place the Greek hospitality industry in the context of Greek tourism and of the International Hospitality Industry. Finally, the outlook of the industry, as seen by hoteliers themselves, is given.
Well known as a stable market with high average room rates owing to shortage of supply, Geneva is often considered a 'safe‐haven' for real estate investors. This article examines the hotel market's recent performance and outlook, in context of the hotel investor sentiment and value trends. Geneva is Switzerland's second most populous city and one of the country's most multicultural cities. The city is a global hub, mostly on account of the presence of numerous international organisations (such as the UN), financial institutions and major research and development laboratories.
Edinburgh is the second most visited city in the UK and its hotel market demonstrated strong resilience in the past 18 months. We explore hotel supply and demand, seasonality, recent transactions, the hotel pipeline and average values per room.
2010 ended with improved rooms revenue indicators. Four star hotels took the lead, recording growth of 8.3%. Although this does not make up for the losses recorded last year, it could mark the beginning of an upswing. Compared with 2009, the 3 star category recorded significantly improved performances. This is even better news considering the midscale segment was one of the hardest hit last year. Despite these good results, budget and 2 star hotel year-end performances still remain rather fragile.
The full year 2010 shows strong profit growth in London but stagnation in the provinces. London hotels showed a double-digit increase in profits, according to the 2010 figures in the latest HotStats survey from TRI Hospitality Consulting. The performance in the provinces, however, was less robust with Gross Operating Profit per Available Room (GOPPAR) dropping by 1.4%. This compares to the 13.9% rise in London.
Once October’s strikes were over and done with, trading picked up in November. However, in regional France, growth rates remained moderate, considering the sharp drops already recorded last year over the same period. As in October, 2 star hotels recorded mixed results. The Côte d’Azur market saw occupancy drop, whilst Paris stagnated. Budget hotels performed better than in October when all indicators were down. Regional budget hotels posted rooms revenue growth of 1.5% in the south-west and 3.4% in the south-east.
12 months after London hoteliers recorded a dramatic return to profitability growth the capital continues to thrive, according to the latest Hot-Stats survey from TRI Hospitality Consulting.
Despite a 1.6% increase in Revenue per Available Room (RevPAR) to £51.60 from £50.77, the unique insight from TRI’s HotStats survey revealed that Gross Operating Profit per Available Room (GOPPAR) actually fell back by 4.1% for Provincial hoteliers during October to £32.89 from £34.31. This is the greatest margin of decline since the 18.9% drop at the beginning of the year.
London hotels have experienced such strong trading in 2010 that the city is now one of Europe’s strongest performers in the race for recovery, according to a new report from hotel consultancy HVS London.
TrevPAR and GOPPAR will slightly decline. • Tough market conditions in 2011 will constrain growth in UK Provincial hotels. • London market forecast to go from strength-to strength, with increases in RevPAR, TRevPAR and GOPPAR performance. • Both sets of forecasts derived from TRI Hospitality Consulting’s unique HotStats database which tracks monthly hotel revenue, cost and profit performance.