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October 8, 2008

India: Strong fundamentals to drive growth in the long term according to Jones Lang LaSalle Hotels’ India Digest 2008

The long-term outlook for India’s hotel industry remains upbeat as the country’s tourism industry experiences unprecedented growth, according to the latest Indian hotel market outlook report, India Digest 2008, by Jones Lang LaSalle Hotels, the region’s market leader in hotel investment and advisory services. While domestic tourism is expanding in India owing to an increasingly affluent and growing population, greater consumption and the introduction of low cost airline carriers, the Indian government is looking to grow foreign visitation to 10 million international visitor arrivals by 2010, the year of the Commonwealth Games in Delhi.

October 8, 2008

Australian Hotel trading performance strong, but clouds gather | Jones Lang LaSalle Reports

Australia’s key hotel markets have largely maintained their growth momentum however the challenges arising from global financial turmoil will inevitably slow this going forward. The newly released Australian Bureau of Statistics (ABS) tourist accommodation data shows growth in trading performance came largely on the back of strong increases in Average Daily Rates (ADR) during the June quarter 2008.

October 6, 2008

HVS EMEA Hospitality Enews - Week Ending 3 October 2008

MH Buys The Freehold To Hotel Prince de Galles | MH Limited Partnership has paid Caisse Autonome Nationale de la Sécurité Sociale dans les Mines €141 million for the freehold interest in the Hotel Prince de Galles. MH Limited Partnership, a holding company owned by the Musallam family from Saudi Arabia, already has the leasehold on the 168-room hotel, which stands on Avenue George V in Paris. The hotel, which Starwood operates as part of its Luxury Collection, is set to undergo refurbishment work costing €80 million.

October 3, 2008

U.S. hotel performance for the week ending 27 Sep 2008 | STR

The U.S. hotel industry posted occupancy and RevPAR declines during the week of 21 - 27 September 2008, according to data from STR. Average Daily Rate increased. In year-over-year measurements, the industry’s occupancy fell 4.9 percent to end the week at 64.5 percent. Average daily rate increased 3.0 percent to finish the week at $111.25. Revenue per available room for the week decreased 2.0 percent to finish at $71.72.

September 30, 2008

Global Lodging Performance Report | August 2008 | STR

The global hotel industry recorded regionally mixed RevPAR results for the month of August 2008, according to data from STR and STR Global. August occupancies fell in every world region. Data for the survey was gathered from more than 36,150 hotels comprising 4.93 million guestrooms worldwide. “We see a trend of declining occupancies and growing room rates across the world,” said James Chappell, managing director of STR Global. “Whilst performance in each region is influenced by different factors, the worldwide economic slowdown has started to take its toll on the hospitality industry.

September 29, 2008

HVS EMEA Hospitality Enews - Week Ending 26 September 2008

Sator Bags Stake In Baglioni | At a time when many are nailing shut their wallets or purses, Sator too finds itself reaching for a hammer; not to knock in nails with but to crack open the piggy bank that is its private equity fund. Out spilled €30 million, which, happily enough, was exactly the amount needed to buy a stake of 40% in Baglioni Hotels. With this money the two Italian firms were wed into a strategic partnership. The honeymoon is likely to be spent in destinations including the Middle East and Russia, where Baglioni will be looking to secure the management contracts or suitable buildings it will need if it is to expand beyond Italy, France and the UK and double its collection of 14 luxurious boutique hotels.

September 25, 2008

Monthly U.S. Lodging Performance August 2008 | Smith Travel Research

The U.S. hotel industry posted a 0.8-percent decline in RevPAR for the month of August 2008, according to data from STR. The monthly decrease in RevPAR was precipitated by declining occupancy, while ADR continued to increase. In year-over-year measurements, the industry’s average daily rate increased 2.8 percent to end the month at $107.01. Industry occupancy fell 3.5 percent to finish the month at 67.5 percent. Revenue per available room for the month fell 0.8 percent to finish at $72.18.

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September 24, 2008

U.S. Hotels to Bottom Out in 2009 | PKF Forecasts Two Years Of Declining Lodging Demand

A new study released today by PKF Hospitality Research (PKF-HR) reveals that demand for U.S. hotel rooms will contract for the next two years. Compounding the negative impact of declining demand is a projected concurrent increase in supply. PKF-HR is forecasting a combined net increase in 2008 and 2009 of nearly 275,000 new hotel rooms compared to year-end 2007. This represents a 6.2 percent jump in accommodations over this two-year period. With supply and demand levels moving in opposite directions, occupancy rates are projected to decline in both 2008 and 2009. Considering the 0.3 percent occupancy decline reported by Smith Travel Research in 2007, the result is three consecutive years of fewer accommodated roomnights for the average U.S. hotel.

September 20, 2008

HVS EMEA Hospitality Enews - Week Ending 19 September 2008

A Foremost Expansion | Continuing its partnership with InterContinental Hotels Group (IHG), Foremost Hospitality has announced that it plans to open and manage, under licence from IHG, 20 hotels under the Express by Holiday Inn and Holiday Inn brands in Germany over the next five years. After the sale of its three Express by Holiday Inn properties in Bristol, Birmingham and Stafford, Foremost started its expansion in Germany and it currently manages the 150-room Express by Holiday Inn Munich Airport and the 158-room Express by Holiday Inn Berlin City Centre-West, both of which opened in April this year. The third hotel in Foremost’s German portfolio is to be the 179-room Express by Holiday Inn Hamburg City Centre, which is owned by Deutsche Fonds fuer Immobilienvermoegen (DEFO).

September 20, 2008

Cape Town, South Africa Market Overview | HVS

South Africa is anything but monotonous. Its diversity ranges from lush greenery to high mountains, great oceans to barren deserts, and small villages to modern cities – South Africa has it all. The country also expresses diversity through its people, who live and interact with each other in various cultures, backgrounds, and languages. However, it is only in recent years that the country – located on the very southern tip of the Dark Continent – has become more transparent in the world’s eyes.

September 18, 2008

U.S. hotel performance for 07-13 September | STR

U.S. hotel industry RevPAR fell during the week of 07 – 13 September 2008, according to data from STR. Occupancy decline outpaced average daily rate growth for the period. In year-over-year measurements, the industry’s occupancy fell 6.1 percent to end the week at 61.9 percent. Average daily rate increased 5.5 percent to finish the week at $108.00. Revenue per available room for the week decreased 0.9 percent to finish at $66.89. “Last week’s industry performance was marginally better than early September,” said Bobby Bowers, senior VP of operations at STR, “but room night demand remains weak with occupancy declining just over 6 percent.”

September 11, 2008

Weekly U.S. numbers reveal broad-based weakness| STR

The U.S. hotel industry recorded occupancy and RevPAR declines during the week of 31 August – 06 September 2008, according to data from STR. The industry maintained positive rate growth. In year-over-year measurements, occupancy fell 7.3 percent to finish the week at 54.3 percent. Revenue per available room for the week fell 6.2 percent to finish at $54.70 supported by a modest 1.2 percent increase in average daily rate. ADR stood at $100.73 for the week.

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September 5, 2008

STR reports U.S. hotel performance for the week ending 30 August 2008 | STR

The U.S. hotel industry posted increases in two key performance measurements during the week of 24 – 30 August 2008, according to data from STR. In year-over-year measurements, average daily rate increased 4.7 percent to finish the week at $105.26. Revenue per available room for the week increased 1.4 percent to finish at $65.41.The industry’s occupancy fell 3.2 percent to end the week at 62.1 percent. “Democratic National Convention activity and the travel period heading into the Labor Day weekend took industry RevPAR positive for the first time in many weeks,” said Brad Garner, VP of client services at STR.

August 31, 2008

HVS EMEA Hospitality Enews - Week Ending 29 August 2008

The press in Singapore reports that KOP Capital, a Singaporean property company that is part of the Middle Eastern firm Dubai Group, is to pay US$250 million for a stake of 50% in The Stein Group. KOP Capital has plans to spend at least as much again to help The Stein Group expand into the Asia-Pacific region. The reports suggest that 20 hotels could be added over the next three to five years. The Stein Group specialises in small luxury boutique hotels and since its establishment as a hotel company in 2001 it has garnered a portfolio of 17 hotels in Europe.

August 28, 2008

STR reports U.S. hotel performance for the week ending 23 August 2008

The U.S. hotel industry experienced occupancy and RevPAR declines during the week of 17 – 23 August 2008, according to data from STR. Average daily rate increased. In year-over-year measurements, the industry’s occupancy fell 3.8 percent to end the week at 65.5 percent. Average daily rate increased 3.1 percent to finish the week at $105.75. Revenue per available room for the week decreased 0.8 percent to finish at $69.27.

August 28, 2008

European Chain Hotels Market Review | July 2008 | TRI Hospitality Reports

July was a mixed month for European chain hotels, with year-on-year profit growth in half of the cities surveyed by TRI Hospitality Consulting’s latest HotStats report. Income before fixed charges (IBFC) – also known as gross operating profit – increased in Budapest, Hamburg, London, Munich and Paris. The German cities of Munich and Hamburg stood out as the only markets to report a year-on-year increase in demand. In Munich, the sample of four and five-star international chain hotels reported average occupancy up by 1.3 percentage points to 82.1 per cent, the second highest in the survey.

August 27, 2008

STR Global, STR release July 2008 worldwide hotel performance results | STR

The global hotel industry recorded positive growth in average daily rate and revenue per available room for the month of July 2008, according to data from STR and STR Global. July occupancies fell in all but one world region. Data for the survey was gathered from more than 36,150 hotels comprising 4.93 million guestrooms worldwide. "Global data for July followed the same pattern that we have seen all year,” said James Chappell, managing director of STR Global. “The US and Europe clearly are at a very different stage of the cycle than the other Global regions.”

August 22, 2008

Monthly U.S. Lodging Performance July 2008 | Smith Travel Research

The U.S. hotel industry posted increases in the key performance measurements of average daily rate and revenue per available room during the month of July, according to data from STR.

August 21, 2008

Caribbean Hotels Face Several Threats in 2008 | PKF Reports

PKF Hospitality Research (PKF-HR), an affiliate of PKF Consulting, today announced that it has released its 2008 edition of Caribbean Trends in the Hotel Industry. The report finds that the Caribbean hotel industry faces some strong challenges going forward. After a soft 2006, most Caribbean destinations saw their visitation rates grow in 2007. In 2008, however, the combination of a slow U.S. economy, increased competition, rising energy costs, and threats of reduced air service could result in lower levels of occupancy and profits for the region's hotel owners and operators.

August 20, 2008

STR reports U.S. hotel performance for the week ending 16 August 2008

The U.S. hotel industry posted declines in the key performance measurements of occupancy and revenue per available room during the week of 10 -16 August 2008, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.5 percent to end the week at 68.7 percent. Average daily rate increased 3.0 percent to finish the week at $107.18. RevPAR for the week decreased 1.7 percent to finish at $73.65.