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.
This newsletter provides a snapshot of the evolution of the performance of Greek hotels, based on a sample of approximately 180 hotels & resorts in Greece. The hotel performance data is compared with data regarding international arrivals in Greece as well as international hotel data, so as to place the Greek hospitality industry in the context of Greek tourism and of the International Hospitality Industry. Finally, a topic of special importance to the hospitality industry will be presented each time.
Horwath HTL, the world’s largest hotel consulting network, hosted a plenary session on pipeline and development at the fourth Russia and CIS Hotel Investment Conference today, held at the Renaissance Moscow Monarch Centre Hotel. Michael O’Hare, Managing Director of Horwath HTL Russia and a leading industry expert in the region, led the session and was joined by senior developers from Hilton, Hyatt, IHG and Starwood Hotels and Resorts.
While the rest of the world’s hotels have struggled to rebound from the global economic downturn, London hotels have defied expectations as rates and occupancies continue to grow. July 2010 marked the highest achieved revenue per available room (RevPAR) reported during the past 11 years in London.
Improving economic conditions, the return of the business traveller and international demand should lift the London rate seven per cent for 2010, with the average room rate (ARR) for the Capital reaching £124 (up from £116 in 2009). This should boost a 2010 RevPAR gain of almost nine per cent.
Istanbul’s designation as one of Europe’s Capitals of Culture during 2010 has given an additional promotional boost to the city’s remarkably strong hotel market where several new properties are opening soon. Data from STR Global, the leading provider of market information to the world’s hotel industry, shows growth in average daily rate (ADR) during the past five years has trended upwards and maintained resilience even during the recent economic crisis.
Madrid City Hotels – On the Rocky Road to Recovery? This article presents a picture of the Madrid hotel market up to the summer of 2010 and our view on current tourism and hospitality trends and tendencies. After a period of steady growth up to the end of 2007, overall airport arrivals have decreased in the two years to the end of 2009; By Giuliano Gasparini and Esther Gladen
In July, hotels in Paris, regional France and the Côte d’Azur demonstrated similar RevPAR tendencies: an increase of over 10% for 4 star hotels, a more modest progression for 3 star hotels and a stagnation for 2 star hotels. More luxurious establishments benefited from the return of overseas guests, whilst budget, 1 and 2 star hotels were more heavily influenced by the behavior of the domestic market – increasingly watchful of accommodation expenses, with alternative lodging solutions often being favored.
Due to those magnificent men in their flying machines, profitability in London hotels continued its ascent in July with an astounding year on year increase of 30.5%, according to the latest HotStats survey from TRI Hospitality Consulting. The climb in Gross Operating Profit per Available Room (GOPPAR) was driven by a staggering 91.9% room occupancy and complemented by a 19.6% increase in achieved average room rate to £141.91. As a result of the movement in volume and price, Revenue per Available Room (RevPAR) in the capital increased by 23.9% to £130.35.
At just past the 2010 half-way stage, against continued economic uncertainty and looming public spending cuts, we take a look at whether the recovery is still on track or likely to be de-railed; the first-half reality for the UK hotel sector and the prognosis for demand in the second half of the year. We also summarise the latest economic data and re-visit what the scale of the new public sector cuts mean for hotels – there’s a lot to lose with public sector travel procurement estimated to be worth around £3bn.
The month of June confirmed the increasingly positive trend. All categories experienced significant growth in RevPAR, although as in previous months, this was more pronounced for 3 and 4 star hotels. Recovery was evident in all main hotel zones. The Côte d’Azur – an area that has been particularly affected – recorded excellent performances in June. Business tourism also picked up, even though significant changes in this market have been identified. These changes include refocusing on France, a drop in the number of motivational seminars, increased use of low cost transport and so on.
This newsletter provides a snapshot of the evolution of the performance of Greek hotels, based on a sample of approximately 180 hotels & resorts in Greece. The hotel performance data is compared with data regarding international arrivals in Greece as well as international hotel data, so as to place the Greek hospitality industry in the context of Greek tourism and of the International Hospitality Industry. Finally, a topic of special importance to the hospitality industry will be presented each time.
A year-on-year increase in Revenue per Available Room (RevPAR) of 15.8% in the month of June has led to a 14.9% increase in Gross Operating Profit per Available Room (GOPPAR) at London hotels. The strong RevPAR growth in London was led by an exceptional increase in achieved average room rate of 11.2%, to £131.23.
The lingering memory for travellers caught up in the airport closures earlier this spring because of the eruption of the Icelandic volcano, Eyjafjallajokull, will be of days wasted at airports or meetings and holidays cancelled. For hoteliers in London and the city’s two major airports, Heathrow and Gatwick, the closures had no significant effect on the long-term trend toward growth in revenue per available room (RevPAR), according to data from STR Global, the leading provider of market information to the global hotel industry. See the trend lines in the graph below.
This market snapshot is part of a series of articles that HVS is producing every month on a series of key markets with STR Global data for each key market. Our analysis is based on data for a sample of more than 7,500 rooms.
After a somewhat gloomy April, the French hotel industry picked up in May. All categories in Paris and throughout France experienced increasing RevPAR, with one exception: 4 star hotels on the Cote d’Azur, whose rooms revenue stagnated.
Last month’s warning unfortunately became reality: April did not mark the end of the recession and March’s sunny spell didn’t last long. Rooms revenue stagnated in the 3 and 4 star sectors and deteriorated somewhat in the 2 star category. These results were all the more disappointing when considered against 2009 – a year where RevPAR dropped sharply. The budget sector (0 and 1 star) continued to stand out from the crowd, with an overall growth in activity. Only those hotels located in Ile-de-France experienced a decline in occupancy (-3%).
This newsletter provides a snapshot of the performance of Greek hotels based on a sample of more than 180 hotels & resorts in Greece. This data is complemented by data from other sources so as to place the Greek hospitality industry in the perspective of Greek tourism and of the International Hospitality Industry. Finally, a topic of special importance to the hospitality industry will be presented each time.