Slow but steady. Our 2012 assessment of key geographic markets for the hotel industry is rounded out with a look at Africa. The South African office of HORWATH HTL contributes a look at prospects in its own backyard, while the rest of the continent is reviewed by W Hospitality in Nigeria.
Asia is insulated from Europe’s current economic woes – isn’t it ? To find out how several Asian and Pa cific markets will likely fare in 2012, we turned to HORWATH HTL, whose consultants sprang into action and produced the following situation reports and outlooks covering twelve countries from the UAE to Australia, and several points in between.
Our regional outlook continues with a look at key markets in the Western hemisphere. HORWATH HTL has provided an in-depth look at the prospects for 2012 in the USA, Brazil and the Caribbean. The economy of the United States is the world’s largest national economy. Its nominal GDP was estimated to be nearly $14.7 trillion in 2010, approximately a quarter of nominal global GDP. The US economy has been expanding since the end of the recession, which is officially considered to have ended in June 2009. The recovery has been fragile, however, with many mixed signals that have led to uncertainty in the consumer and business markets.
Hotel rate parity trends for February to April 2012 of three, four and five star hotels across some of the major cities in Europe. The report shows the percentage of hotels with cheaper rates on their own brand site compared to their rates on other OTAs.
According to HORWATH HTL, 2012 will be a year of uneven recovery across Europe – unless the financial, fiscal and Euro crisis worsens substantially, in which case all bets are off. To get an idea of the outlook in key markets across the continent, The Hotel Yearbook asked 11 different offices of Horwath’s international network to contribute their professional assessment of where we are and where we are going.
Hotel rate parity trends for November to January 2012 of three, four and five star hotels across some of the major cities in Europe. The report shows the percentage of hotels with cheaper rates on their own brand site compared to their rates on other OTAs.
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.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 20-26 February 2011, according to data from STR. In year-over-year comparisons, occupancy increased 8.4 percent to 59.9 percent, average daily rate was up 3.4 percent to US$99.38, and revenue per available room finished the week up 12.1 percent to US$59.54.
Hotel results in the Middle East & North Africa end 2010 with great disparity, as some markets post true RevPAR growth and others still negative. "MENA is a challenging hotel market to analyse compared to say Western Europe and the US. The region is not as mature, with countries at different stages of the hotel cycle, i.e. performing completely different to each other. Thus, the hotel cycle is a lot more unpredictable, and erratic behaviour from some can easily overthrow regional trends," comments Director of Development, MKG Hospitality, Vanguelis Panayotis.
The U.S. hotel industry reported single-digit increases in all three key performance metrics during the week of 23-29 January 2011, according to data from STR. In year-over-year comparisons, occupancy increased 6.7 percent to 52.0 percent, average daily rate was up 2.7 percent to US$97.63, and revenue per available room finished the week up 9.6 percent to US$50.75.
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 cold weather in the UK towards the end of the year was not enough to diminish headline performance levels as its capital achieved a Gross Operating Profit per Available Room (GOPPAR) of €105.07, according to the latest HotStats survey from TRI Hospitality Consulting.
The European hotel industry posted mostly positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for year-end 2010, according to data compiled by STR Global. "Recovery took hold over most of Europe during 2010", said Elizabeth Randall, managing director of STR Global. "Demand returned, and with limited supply increases overall, most hotel markets boosted their occupancy levels and were able to build their average rates.
The Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for year-end 2010 and December 2010, according to data compiled by STR and STR Global. The Americas region ended the year with a 5.6-percent increase in occupancy to 57.8 percent, average daily rate finished virtually flat with a 0.6-percent increase to US$100.32, and revenue per available room was up 6.2 percent for the year to US$57.99.
Hotels in the Asia/Pacific region experienced increases in all three key performance metrics for year-end 2010 when reported in U.S. dollars, according to data compiled by STR Global. In year-over-year measurements, the Asia/Pacific region's occupancy rose 8.9 percent to 66.0 percent, average daily rate increased 11.4 percent to US$132.80, and revenue per available room jumped 21.3 percent to US$87.69.
The Middle East/Africa region reported increases in all three key performance measurements for year-end 2010 when reported in U.S. dollars, according to data compiled by STR Global. The region's occupancy ended the year with a 0.8-percent increase to 61.8 percent, average daily rate rose 3.1 percent to US$156.94, and revenue per available room went up 4.0 percent to US$97.04.
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.
The U.S. hotel industry reported increases in all three key performance metrics for fourth-quarter 2010 in year-over-year measurements, according to data from STR.
Even for economic powerhouses like China and India, the road has been bumpy these last couple of years. To find out how these and several other Asian markets will likely fare in 2011, we turned to HORWATH HTL, whose consultants jumped into high gear to produce this situation report and outlook, covering eleven countries.
How will 2011 play out for the key hotel markets in Europe? To get an idea of the current situation and varying pace of recovery across the continent, The Hotel Yearbook asked HORWATH HTL for an assessment. Nine different offices contributed to this extensive regional outlook, which examines markets from Spain and Ireland to Russia and Montenegro.