Europe, the U.S. and China lead in overall global hotel performance. While Europe and the U.S. follow similar performance cycles, China is more affected by policy.
NASHVILLE – Positioning in the current hotel industry performance cycle varies greatly by country, according to a general session presentation from Robin Rossmann, STR’s managing director, on the second day of the sold-out 2019 Hotel Data Conference, presented by Rainmaker, a Cendyn Company.
Co-hosted by STR and Hotel News Now at the JW Marriott Nashville, HDC sold out for the sixth consecutive year with a record 734 attendees.
Rossmann cited several key points of analysis and data during his presentation:
- Europe, the U.S. and China lead in overall global hotel performance. While Europe and the U.S. follow similar performance cycles, China is more affected by policy.
- When looking at Europe, Eastern European, Irish and Iberian markets have seen stellar revenue-per-available-room (RevPAR) growth over the past 10 years. Budapest (+78.0%), Dublin (+74.0%) and Istanbul (+70.0%) have seen the largest increases over that time period.
- Moscow outperformed expectations during last year’s FIFA World Cup, with a 225.0% RevPAR increase during June and July 2018.
- Dubai is not yet at the performance bottom due to continued supply growth expected through 2021. Rooms are projected to increase 46.7%, while the number of properties is expected to rise 31.8%.
- As of the June 2019 year-to-date time period, the Asia Pacific region is starting to see a slowdown in both supply and demand, +3.6% and +2.7%, respectively.
- Chinese outbound tourism is primarily to the Asia Pacific region, with an expected 78.7 million visitors in 2019, according to Oxford Economics.
- Brazil demand numbers were up in 2017 and 2018, +3.5% and +7.6%, respectively. The country continues to show signs of recovery in 2019.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
