Market Reports

HotelsCombined reports the top 10 domestic and international travel destinations for German residents in 2010. Statistics are based on the Web site’s current booking leads for the upcoming year. Berlin and Hamburg top the list for domestic destinations while New York and London rank highest for international destinations.

The Hotel Industry Pulse Index (HIP) posted a slight recovery in February, according to economic research firm e-forecasting.com in conjunction with STR. After edging down 0.5 percent in January, HIP improved 1.3 percent in February.

Calgary Tops the Hotel Rate Report for the Third Consecutive Month

In what was a testing year for tourism markets globally after the fallout of the world financial crisis, Jordan showed signs in 2009 of withstanding the challenge. The country observed an occupancy rate of 56.1 percent in the 12-month period ended December 2009, according to statistics from STR Global, which reflects a year-on-year decrease of 18 percent. However, revenue per available room (RevPAR) in the same period decreased relatively less, by 5.7 percent, to US$82.11.

Deloitte has confirmed that hotels in the Middle East achieved the highest occupancy, average room rates and revPAR globally in 2009. Data prepared by STR Global, shows occupancy reached 61.3 percent for the year, while average room rates and revenue per available room (revPAR), stood at US$202 and US$124 respectively.

Recent analysis by Deloitte has found that recovery in European hotel performance is on the horizon. Demand has experienced an upturn since October 2009, before pushing into positive territory in December 2009 – up 4.2 percent. STR Global results for January 2010 also show a healthy 3.3 percent increase in the region against January 2009.

Hotels are on the comeback trail. More accurately hotels appear to be on two separate trails to recovery – a super-highway for London and a much rougher Provincial trail.

World GDP fell by 2.1% in real terms, with developed economies – a major source of demand for Travel & Tourism – the most severely affected. Households curtailed leisure travel plans, substituting lower-cost short-haul and domestic travel for more expensive long-haul trips, and corporations reduced business travel budgets.

A survey of 417 European hotel executives by international law firm DLA Piper has revealed weak industry confidence and dealt a blow to hopes of recovery this year.

The hotel business in New York City has begun to turn the corner as Sean Hennessey, CEO of Lodging Advisors, told the Greater New York Chapter of the Hospitality Sales & Marketing Association International (HSMAI) that based on an analysis of STR data, he forecasts that New York City hotel RevPAR turned positive in February 2010, the first time since September 2008.