Asia Pacific to lead hotel wholesale market
The global market for accommodation wholesalers is forecast to grow 7.3% by 2015 to reach EUR24.1 billion (US$30.7 billion), up from EUR18.2 billion in 2011, with Asia Pacific leading the sector.
Speaking at the VIII Foro Turístico Hosteltur 2012 event inMadrid, TUI Travel’s Chief Executive, Peter Long, said the Asia Pacific region would lead the growth, surging 9.1% by 2015, followed by theAmericasat 6.3%.
During his speech at the opening of the Madrid event, Long pointed out that HotelBeds – TUI’s accommodation wholesale unit – has become the largest business within TUI’s Accommodation & Destinations sector. HotelBeds reported revenues of EUR1.2 billion for the year ended 30 September 2011, during which time the company sold 14 million room nights.
Long added that Asia Pacific has been one of HotelBeds’ fastest-growing source markets in recent years, rising 11% in 2011.
Joan Vilà, Managing Director of TUI’s Accommodation & Destinations Sector and President of Hotelbeds, said that the changing tourism landscape since 2000 had boosted the accommodation wholesale sector.
“We saw a great opportunity in the accommodation sector and understood that we should do so on a large scale,” said Vilà. “Our approach has always been directed to grow, adding destinations, improving our product and incorporating new source markets.
“Given that we are a business for masses, in which the price is fundamental, has automatically allowed us to have an efficient model in cost,” he added.