Global hoteliers expect tough year - Horwath HTL
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Hoteliers throughout the world are unanimously expecting declines in business performance for 2009 according to a survey by hotel consultancy firm, Horwath HTL. The Global Hotel Market Sentiment Survey was conducted across 46 countries and received a total of 2,705 responses, in an effort to provide the industry with an assessment of the market outlook for the coming 12 months.
The survey ranked the global economic situation as the number one factor negatively influencing the market, followed by global stock market trends, and local economic trends. General market sentiment was on the pessimistic side, with a global average score of negative 34.2. The only region to achieve a positive average sentiment score is South America, registering a score of 9.7.
Asian hoteliers held the most pessimistic outlook for the year with an overall average sentiment score of negative 41.2 with Japan (-74.1), Singapore (-64.3) and Hong Kong (-52.7) the most pessimistic in the region.
The five countries with the highest sentiment scores were Indonesia (-4.3), South Korea (-7.2), Norway (-20.3), South Africa (-20.9) and Mexico (-24.5). The bottom five consisted of Japan (-74.1), Slovakia (-68.4), Singapore (-64.3), Russia (-58.9) and the USA (-54.8).
Robert Hecker, Chairman of the Horwath HTL Global Committee commented; “A global sentiment score of negative 34.2 clearly indicates that hoteliers across the globe are expecting declines in performance in 2009. On average, hoteliers across the globe expect room occupancy and average room rates to decline somewhere in the order of five percent, resulting in an average ten percent decline in revPAR (revenue per available room)”.
One positive note was the outlook in Indonesia where, based on survey results, revPAR gains of around 5% are expected for 2009.
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