Singapore (2009-02-24)

HOTELIERS throughout the world are unanimously expecting declines in business performance for 2009, according to the Horwath HTL Global Hotel Market Sentiment Survey.

The global economic situation was ranked top factor negatively influencing the market, ..." />
 
Tuesday . June 25 . 2019
         
 
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Air of pessimism fills global hotel sector
 
Singapore (2009-02-24)

HOTELIERS throughout the world are unanimously expecting declines in business performance for 2009, according to the Horwath HTL Global Hotel Market Sentiment Survey.

The global economic situation was ranked top factor negatively influencing the market, followed by global stock market trends and local economic trends.

Market sentiment was generally pessimistic, with a global average score of negative 34.2.  Only South America registered a positive average sentiment score of 9.7.

North America scored negative 41 while Asia scored negative 41.2, the most pessimistic being Japan (-74.1), Singapore (-64.3) and Hong Kong (-52.7).

The top five countries (with a sufficient response rate) with the highest scores were Indonesia (-4.3), South Korea (-7.2), Norway (-20.3), South Africa (-20.9) and Mexico (-24.5).  Japan (-74.1), Slovakia (-68.4), Singapore (-64.3), Russia (-58.9) and the US (-54.8) rounded up the bottom five.

Horwath HTL Global Committee chairman, Mr Robert Hecker, said: “On average, hoteliers across the globe expect room occupancy and average room rates to decline around five per cent, resulting in an average 10 per cent decline in RevPAR.”

However, Indonesia hoteliers on average expected improvements in room occupancy and average room rates, which based on survey results should lead to RevPAR gains of around five per cent for 2009.  

Hungarian and Mexican hoteliers were amongst the most positive in Europe and North America respectively. South American hoteliers also expected improvements.

The corporate demand segment achieved the lowest score of negative 45.7 among the four key segments surveyed (corporate FIT, Leisure FIT, Leisure Group and MICE).  

This segment is anticipated to record the worst performance in 2009 across all regions except for Australia/Pacific and North America. Hoteliers in Australia expect the MICE  segment to be the worst performing in 2008, while North American hoteliers on average expect the Leisure Group segment to be the worst performing.
 
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