Marrakech has established itself as a popular tourism destination over the past decade and has shown phenomenal growth in visitation. This article discusses recent tourism trends and hotel performance and provides an overview of the hotel pipeline.
Driven by the tech industries, Silicon Valley's lodging market continues to boom, reaching record levels. Despite the opening of a number of new hotels, with more under construction and in the pipeline, lodging demand continues to outpace supply in the market. Eager to get a piece of the pie, investors have looked toward acquiring and redeveloping existing assets. Conversions and rebrandings at a number of hotels following recent transactions reflect that brand affiliations are still important in this market.
Markets in the region are experiencing some headwind amid an economic slowdown, changes in demand patterns and increases in supply. Hong Kong received 16.1 million visitors in the third quarter of 2014, reflecting an 11.2% yearon-year (YOY) growth. Despite the Occupy Central Campaign, growth was mainly driven by Mainland Chinese visitors. Looking forward, it is difficult to estimate the effect of the Occupy Central Campaign. There were a total of 12.8 million mainland Chinese visitor arrivals (79.6% of the market share) during the period. According to CAPA Centre for Aviation, the fast growth in the South Korean market was mainly attributable to the expansion of low cost carriers connecting Seoul and Hong Kong, dominated by HK Express with two daily flights
The 2015 HVS Manhattan Lodging Overview examines the effects of up and down economic cycles on Manhattan hotels, reviewing trends in hotel performance, supply, and demand over the past 25 years. The report also provides the most current information available on today's market, as well as forecasts for supply growth and hotel performance. The 2015 HVS Manhattan Lodging Overview provides detailed insight and data-rich graphs, charts, and tables in order to track the trajectories of hotel supply, demand, and performance. Together, these insights shed light on the most current factors affecting the hotel landscape in Manhattan—critical market intelligence that hotel developers, lenders, owners, and brand representatives can put to use.
The latest edition of the TravelClick Perspective is now available! In this issue, Erik Folgate, Manager of Enterprise SEO, shares his expertise on responsive website design, SEO and content marketing, as well as the impact of social advertising. This edition dives into the current digital marketing trends for hoteliers in the coming year. Don't miss Erik's complete expert analysis as well as our hotel industry outlook, highlighting the top 25 North American markets.
'Why should luxury travellers pay less for a hotel in Rome than in London, Paris or New York? We have the same guests here...,' a General Manager of a luxury hotel in Rome asked me recently during an interview. His remark poses an interesting question: why are luxury hotels in Rome not able to charge similar rates as those in London or Paris, when they supposedly attract a similar clientele?
Every year, the hotel experts and analysts at Horwath HTL worldwide produce a series of mini-country reports exclusively for The Hotel Yearbook. Each report focuses on just two things: first, a quick snapshot of the country’s current economic and hotel market situation, and second, the outlook for the year ahead, highlighting specific events that are anticipated to have an impact on the health of the country’s hotel business.
Despite the slowdown in the pace of rooms revenue (RevPAR) growth in 2013, U.S. hotels were able to sustain strong gains in net operating income (NOI) during the year. Looking forward, the combination of rising average daily rates (ADR) in a low inflation environment will allow for a continuation of profit growth in excess of 10 percent through 2015. This five year period (2011-2015) of continuous double-digit gains on the bottom-line will be the longest such streak for U.S. hotels since the high inflation days of the late 1970s.
The hotel industry outlook for the top 25 North American Markets is showing an increase of 4.9% in committed occupancy for May 2014 - April 2015. This is compared to the same time last year and is based on group commitments and individual reservations on the books as of April 27, 2014. The group segment is up 4.7% in room nights committed (contracted), and new group business added over the last month (pace) is up 3.0% over the comparable period last year. Additionally, transient room nights booked are up 5.2% compared to the same time last year, and average daily rate (ADR) is growing slightly above occupancy, up 3.4% based on reservations currently on the books.
Hotels provide retail operations primarily for guest convenience and satisfaction, and are, in general, only a small part of total hotel revenue. Of the properties in the Trends® in the Hotel Industry database of PKF Hospitality Research, LLC (PKF-HR) that reported retail sales and expenses, retail sales made up just 0.9 percent of total hotel revenue in 2012. Retail operations vary greatly depending on the type of hotel. The retail department at large full-service, resort and convention hotels often includes clothing stores, gift shops and newsstands. Limited-service, select-service, and extended-stay properties frequently operate just a kiosk or mini-mart located next to the front desk that sells items mainly for the guest's convenience, such as snacks, drinks, and microwavable food.
By the end of 2013, the National Government seems to be applying some changes in the macroeconomic orientation of its policies, seeking more fluid economic and financial relationships with the rest of the world.
ondon will continue to attract tourists worldwide, and its ADR is expected to recover, resulting in a RevPAR growth of 4% while consecutive GDP and GOPPAR growth recorded in the regions in 2013 provide good foundations for a positive 2014, with 1.9% RevPAR growth forecast (forecasted by STR Global in conjunction with Tourism Economics).
One of the greatest recent achievements of the Emirate of Dubai is its successful bid to host the Expo 2020, which was officially announced at the end of November 2013. It will be the first time that this reputable event will be hosted and organized in the Middle East and bears testament to the progress of Dubai and the world-class facilities it has developed in the last decade.
İstanbul, because of its shortage in bed capacity and ever growing demand, both in leisure and business, will boom further with the start of megaprojects such as Kanal Istanbul. This undertaking will create an artificial sea-level waterway to minimize shipping traffic on the Istanbul strait.
A main topic featured in almost every discussion on tourism over the last 18 months and will continue to concern the industry in 2014 is that in March of 2012, Swiss voters adopted the Second Home Initiative which was became effective immediately.
Hotel transaction activity in Spain 2014 could be expected to rise, as confidence in the country’s performance is stronger. Increasing interest by international investors, together with lower investment risks, might lead to higher transaction activity in 2014.
This is the year that Russia will be showcasing the Winter Olympics in Sochi, and despite adverse international press in recent months over a number of controversial issues, Russia knows it has to produce spectacular games and show how it has developed a world-class resort from very humble beginnings.
We predict that 2014 will be a period of very cautious and considered new hotel investments, and growth that began in the second half of the 2013 will continue. In 2014 it is predicted that about 60 new hotels will be opened, which compared to past years is not very impressive.
It is expected a slight slow down in the Norwegian economy for 2014. However a ca 10% weaker exchange rate (NOK/ Euro) is considered positive as to development of foreign tourism, which could reach 2013 level.
As a rule, the Dutch hotel market can be considered to follow the development of the economy. However, the order appears to have reversed in recent years. While the demand for hotels has increased in the last half year, the economy is still struggling.
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