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November 5, 2008

PhoCusWright Forecasts Online Travel Growth at Lowest Levels, but Still Outperforming Overall Market through 2010

With the economic situation deteriorating throughout fall 2008, most U.S. travel companies are now grappling with declining demand and uncertainty for the future. The latest market forecasts in the new PhoCusWright's U.S. Online Travel Overview Eighth Edition reflect these lower expectations for travel companies' performance. If unemployment continues to rise and retirement accounts dwindle, travel companies must prepare for a downward trend: fewer people taking trips, just like in 2002. The strategy to hold or even raise prices has shifted as travel sellers look to salvage what they can of 2008 while holding steady in 2009.

October 29, 2008

PKF Revises Forecast to Reflect Acceleration of US Economic Downturn

The downward gravitational pull on the national economy resulting from extraordinary financial events currently playing out on Wall Street and in Washington has prompted PKF Hospitality Research (PKF-HR) to revise downward its hotel industry forecast for 2009 issued September 2008. The company is now expecting RevPAR and profit declines of 4.3 percent and 7.9 percent, respectively, for U.S. hoteliers in 2009, according to its updated forecast. The new forecast reflects research reported by Smith Travel Research (STR) in September that projects a 5.9 percent drop in occupancy and weak average daily rate growth, which PKF believes is just the beginning of an even greater protracted decline expected for the industry.

October 20, 2008

HVS Asia Pacific Newsletter | Week ending 10 October

Malaysia To Promote Sports Tourism | Hong Kong's Langham Hotels International To Manage Hotels In Phuket, Thailand | India's Choice Hotels To Double Hotel Portfolio In India By 2010 | SOHO China To Cease Hotel Operations At Two Properties | New Hotel Management To Manage 160-Key Hotel In Macau | Empire Square Development To Be Scrapped In Brisbane | Absolute Share Price Performance, As At 10 October 2008

October 17, 2008

Is the Travel Industry Headed Toward Another Wallop? | PhoCusWright FYI

With the global credit markets in crisis, stock markets fluctuating, fuel prices erratic and a recession looming, the travel industry is gloomy. Companies quickly shifted into belt-tightening gear and if they're not feeling the pinch now—they're at least preparing for a long, cold winter ahead. So it was no surprise that the economy dominated much of the discussion at PhoCusWright's Town Hall Meeting in Palo Alto, CA, on October 8. In a Q&A session moderated by PhoCusWright president and CEO Philip Wolf, the one question on everyone's mind was: "Will the 2008 economic meltdown be as bad for our industry as September 11, 2001?"

October 13, 2008

US: Travel industry begins its descent | startribune.com

The travel industry has been hit hard by the economic slowdown, particularly in the past few weeks. Airlines reported sharp declines in passenger traffic for September. Hotel occupancy rates are down and cancellations are starting to rise even at four- and five-star hotels, which previously seemed immune to the economy's travails. Months ago, the nation's airlines, which are grounding some older jets, announced plans to cut 8 to 10 percent of their domestic flights after Labor Day, so traffic was expected to be down. At the same time, the airlines planned to raise fares.

startribune.com

October 13, 2008

Hitwise Monthly Travel Category Report - Sept 2008

39.05% of all visits to the online 'Travel' industry went to the top 10 websites for the month of September, 2008. 47.93% went to the top 20 websites and 68.30% went to the top 100 websites. The average visit duration for visits to the online 'Travel' industry was 8 minutes, 58 seconds for the month of September, 2008. This is a minimal decrease from last months average visit duration of 9 minutes, 9 seconds. The monthly churn in the Top 100 in the 'Travel' industry for the month of September, 2008 based on visits was 9.0%, which means that 9 websites in this industry's Top 100 rankings have changed since August, 2008.

September 25, 2008

UK Hoteliers Hold Own Despite Gloomy August Weather | PKF Reports

Hotels across the UK were able to maintain steady occupancy levels, room rate and rooms yield figures in August despite the gloomy weather that set in across the country, according to preliminary monthly figures released today by PKF Hotel Consultancy Services.

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September 25, 2008

UK Chain Hotels Market Review | August 2008 | TRI Hospitality Reports

Profitability dropped at provincial UK chain hotels during August, according to the latest HotStats survey from TRI Hospitality Consulting.

September 16, 2008

Spiralling Costs Put Pressure on Profit | August 2008 | TRI Hospitality Reports

Substantial rises in daily running costs are reducing the profitability of the majority of UK chain hotels, according to a HotStats survey from TRI Hospitality Consulting.

September 15, 2008

HVS EMEA Hospitality Enews - Week Ending 12 September 2008

A Le Meridien Hotel For Algeria | Starwood Hotels & Resorts Worldwide is to stage the grand debut of its Le Meridien brand in the North African country of Algeria. Starwood has signed a management agreement with the Algerian state-owned oil and gas company Sonatrach SpA to operate the Le Meridien Hotel & Conference Center in the country’s second-largest city the northwestern port of Oran on the Mediterranean coast. The 296-room hotel is expected to open in February 2010, and it is to be part of a mixed-use project being developed by Sonatrach. The new Le Meridien property will join Starwood’s other two properties in Algeria: the Sheraton Club Pins Resort and Towers, in Algiers, and the Sheraton Oran Hotel & Towers, in Oran.

September 11, 2008

Summer 2008 Results: Turnover Of French Hotel Chain Industry Goes Beyond The Billion Euro Mark | MKG Reports

Despite the world’s current gloomy economic situation and downturn in household purchasing power, initial results for summer 2008 are mostly positive for the French hotel industry.

September 9, 2008

Hitwise Monthly Travel Category Report - August 2008

This monthly report provides Hitwise data on: The websites That Entered and Left the Top 100 Travel Category websites - Top 20 websites for the past month based on visits - Most popular search terms typed into a search engine that resulted in traffic to websites classified by Hitwise within the Travel industry. The Traffic Distribution Analysis of visits to the Travel category - The Visits Duration Analysis to the Travel Category - Fast Movers - indicating websites which have witnessed substantial increases in rank in the online Travel industry

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September 8, 2008

HVS EMEA Hospitality Enews - Week Ending 5 September 2008

Double W For The UK | W Hotels. You can seek them here, you can seek them there; but until now you would not have found them anywhere in the UK. Seek again – no, not in Regent Street, but in Leicester Square – and you will at last find what you have been looking for. The W brand will arrive in the heart of the West End of London in late 2010 in the shape of the 194-room W London-Leicester Square and an accompanying set of ten residences: The Residences at W London-Leicester Square. The properties are to be part of a mixed-use development on the site of the Swiss Centre. Next, you need to turn your gaze on the northwest of England, where in 2010 the city of Manchester will be welcoming the W Manchester. The hotel, which is to be built by West Properties at the mixed-use development called Origin, is to have around 160 rooms.

August 25, 2008

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

The Farnborough Airshow contributed to strong profit growth for London’s chain hotels during July, according to the latest HotStats survey from TRI Hospitality Consulting.

August 25, 2008

HVS EMEA Hospitality Enews - Week Ending 22 August 2008

Three New Rezidor Hotels For Russia | Further to previous rumours of a new Radisson hotel for Rostov-on-Don, Rezidor Hotel Group has confirmed that the Radisson Grand Hotel Rostov-on-Don is to open in the third quarter of 2011 with 520 rooms. As well as the Radisson Grand, this week Rezidor also announced another two hotels to pad out its portfolio in Russia. The 173-room Park Inn Volgograd is to open in the second quarter of 2010, in the southwestern port of Volgograd on the river Volgo, and the 276-room Park Inn Kaliningrad, in the west of the country, is scheduled to open at the beginning of 2011.

August 14, 2008

STR reports U.S. hotel Pipeline for July 2008

The U.S. hotel development pipeline includes 5,943 hotels with 660,928 rooms according to the July STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 0.5-percent decrease in rooms over June and an 18.1-percent increase over July 2007. Of the total pipeline, 200,604 rooms are not currently affiliated with a brand or chain.

August 5, 2008

Hitwise Monthly Travel Category Report - July 2008

This monthly report provides Hitwise data on: The websites That Entered and Left the Top 100 Travel Category websites - Top 20 websites for the past month based on visits - Most popular search terms typed into a search engine that resulted in traffic to websites classified by Hitwise within the Travel industry. The Traffic Distribution Analysis of visits to the Travel category - The Visits Duration Analysis to the Travel Category - Fast Movers - indicating websites which have witnessed substantial increases in rank in the online Travel industry

August 5, 2008

PolyU's Hong Kong Tourism Forecasting Report Examines Two Major Source Markets - Mainland China and Taiwan

PolyU recently released the second issue of the Hong Kong Tourism Forecasting Report reviewing forecasts of the demand for Hong Kong tourism from Mainland China and Taiwan. The Report presents the forecasts from the Tourism Demand Forecasting System for Hong Kong. This sophisticated web-based system was jointly developed by PolyU’s Public Research Institute and School of Hotel and Tourism Management and was officially launched on 4 March 2008.

Hong Kong PolyU

July 31, 2008

HVS EMEA Hospitality Enews - Week Ending 25 July 2008

Travelodge To Travel To The Seaside | UK-based budget hotel chain Travelodge has got together with other companies, such as National Express Coaches, Blackpool Pleasure Beach and Sea Life, to launch the ‘Save our Seaside’ campaign in a bid to entice back the British public to holiday in domestic seaside resorts. As part of this campaign the company is implementing a £150 million seaside investment programme. The chain plans to build 55 new hotels in British coastal towns by 2015 at pace of nearly one hotel a month. Already present in 30 seaside locations, the new areas earmarked by Travelodge include Blackpool, Weymouth, Newquay, Bournemouth and Scarborough. With already 330 hotels (22,500 rooms) the firm plans to increase its portfolio to around 1,000 hotels (70,000 rooms) by 2020.

July 29, 2008

UK Hoteliers Continue To Hold Own | PKF Reports

UK hoteliers had another steady month in June with most reporting increased rooms yields, according to preliminary monthly figures released today by PKF Hotel Consultancy Services