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.
STR's preliminary August 2019 data for London indicates lower occupancy but significant overall performance.Based on daily data from the month, London reported the following in year-over-year compari.
Europe’s Hotel Construction Pipeline Soars to Record Highs With Impressive Double-Digit Increases Year-Over-Year
Analysts at Lodging Econometrics (LE) report that Europe's hotel construction pipeline soared to record high counts in the second quarter of 2019 with 1,704 projects having 260,111 rooms, for a dramatic 23% increase in projects and 19% increase in rooms year-over-year (YOY).
Mainland Europe hotels have seen better months. A 5.0% decline in average room rate dropped RevPAR 3.2% year-over-year in July, and with total revenue not faring better, GOPPAR in the month was down an unsettling 9.
In a scenario that's becoming exceedingly familiar, and one that illustrates the frequent occurrence of revenue and profit misalignment, RevPAR at hotels in the UK hit a high in July, but GOPPAR turned negative, sapped by rising costs, according to the latest data tracking hotels from HotStats.
Travelodge Edinburgh Haymarket sold to UBS Asset Management
The first six months of 2019 have provided some thought provoking events: Brexit was postponed (twice), the Gillet Jaunes ravaged Paris on a weekendly basis, tankers were holed or seized in the Gulf, Trump had tea with the Queen and Liverpool won the Champions League (again).
urope's hotel industry reported positive results in the three key performance metrics during July 2019, according to data from STR.Euro constant currency, July 2019 vs. July 2018.
KPMG UK research finds that 30% of the UK public have changed their spending as a result of Brexit uncertainties1. A fifth (22%) have avoided making big ticket purchases with almost one in ten (9%) missing out on overseas holidays and 6% avoiding investing in the economy via stocks & shares.
STR's hotel pipeline data for Europe showed 1,504 projects accounting for 192,352 rooms in construction as of July 2019. This represented a 52.4% year-over-year increase in the number of rooms in the final phase of the development pipeline.