Hotel Market More Positive about 2012, With Strong Reservations
Latest Version of Global Hotel Market Sentiment Survey
Horwath HTL Reports
The latest survey compiled by Horwath Hotel, Tourism and Leisure (HTL), the world's largest hospitality consulting firm, has shown that hotel operators around the globe are more optimistic about the coming few months than they were in 2011. The survey, which summarises responses from over 40 countries, shows that while Asia is still strong and the USA is increasing in confidence, Europe continues to be flat as the endless sovereign debt problem rumbles on.
Sentiment has improved; recovering from a second half slump in 2011, although as the European figures are almost completely flat, it was an increase in positive sentiment in the USA and the Middle East that have contributed the most. The outlook for 2012 is not as positive as the corresponding outlook in February 2011, however, has improved from the July 2011 survey. Improving sentiment is observed in Asia, North America and the Middle East / Africa, while Europe remains low and Oceania has slightly declined.
Damien Little, a Director of Horwath HTL in Asia and the founder of the survey said, "The fact that sentiment in the US markets is starting to grow is the strongest indication of better things to come, and Europe has a double bonus with the European Soccer championships in Poland and the Ukraine, followed by the Olympic Games to be held in London, both of which should drive a healthy demand for hotel bedrooms. If Europe can finally settle its debt problem once and for all and inflationary pressures not impact too much on the Chinese economy, we should be looking at a much better second half of 2012"
Global Business Director
About Horwath HTL
Horwath HTL is the world"s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at email@example.com