Seven trending hotel news stories that will impact your hotel Revenue Strategy.
1. Profit per room up for hotels across Europe
Europe’s hotels have reported a strong start to the year with revenue gains and cost savings leading to an 8.3% increase in profit per room at €59.17 for February 2018, according to the latest data from HotStats.
Hotels in Europe reported a 10th consecutive month of profit growth with GOPPAR at €31.30, along with a 3.2% year-on-year increase in TrevPAR, to €141.52.
Achieved average room rate for the 12 months to February 2018 increased by 3.4%, to €143.11, while occupancies across Europe rose by 0.6-percentage points to 62.8%.
Full story at HotStats.
2. Middle East to enjoy surge in European travellers
Increases in mid-market hotels, extra flights and competitive prices are all expected to drive European travellers to the Middle East, with 24.6 million arrivals expected from Europe to the GCC by 2020, according to Colliers International.
The UAE is tipped to receive the majority of European arrivals, with 14.5 million travellers, followed by Saudi Arabia (5.4 million), Oman (2.21 million), Bahrain (1.72 million) and Kuwait (738,000).
Full story at Hotelier Middle East.
3. Profits plummet at Middle East & Africa hotels
Hotels in the Middle East & Africa saw a 7.8% year-on-year drop in profit per room to $82.38 in February 2018, according to the latest poll from HotStats. This led to hotels in the region filing a 1.2% decline in GOPPAR to $85.12.
Rising costs and a decline in revenue were cited among the reasons for the drop. Hotels in the region saw an 8.7% decrease in achieved room rate to $171.49.
Full story at HotStats.
4. UK hotels see profit slide
Despite strong growth across other European regions, UK hotels have reported a year-on-year slide in profit per room of 5.1% in February 2018.
The decline in profits is partly attributed to an increase in operating costs, coupled with a stagnation in occupancy. Achieved average room rates were up 1.3% to £106.70, while occupancies dropped 0.6% to 73%.
Full story at Hotel Owner.
5. Positive Easter results buoy Spain’s tourism industry
Spain’s hotels enjoyed exceptional business levels throughout Easter, with hotels in ski resorts reporting a record season, with some occupancies hitting 100%, according to the Confederation of Spanish Hotels and Tourist Accommodation.
Ski resorts have reportedly been enjoying their best season in 30 years, while Spain’s Costa del Sol and Canary Islands have also put in strong performances. However, CEHAT has warned that tourism transference back to Egypt, Tunisia and Turkey could impact Spain’s tourism fortunes for the rest of 2018.
Full story at Hotel News Now.
6. Supply and demand continue to grow in Dubai
Hotel supply and demand continue to increase in Dubai, with supply up 5.4% and demand up 4.7% year on year to March 2018.
Hotels in Dubai reported a 0.5% increase in average daily rate to AED752.49 – the first increase since April 2017 and only the second increase since July 2014, while revenue per available room dipped slightly, down 0.1% to AED644.9, HotStats reported. Occupancy was down 0.6% to 85.7%.
Full story at Hotel News ME.
7. Blackpool proves big draw for business bookings
Blackpool reported a 55% increase in booked corporate room nights in 2017, the biggest increase in corporate business in the UK, according to the 2017 Hotel Market Report by Advantage Travel Partnership.
Other markets that fared well include Peterborough, which saw a 48% increase in corporate room nights, Preston (35%), Bradford (33%) and Oxford (25%). Average stay increased to 1.92 nights.
Full story at Buying Business Travel.
Stay up on hotel Revenue Strategy news and discuss industry tech trends in the Hotel Revenue Strategy Leaders Group on LinkedIn.