The Dutch hotel industry expects higher occupancies and average room rates this year, as shown in research…
The Dutch hotel industry expects higher occupancies and average room rates this year, as shown in research by Horwath Consulting. After the lower results in 2001 and 2002 due to the economic downturn, hotel managers are hoping for better days. The expectations predict 1.6% more hotel guests, and 3.4% higher rates. For the hotel, this should result in 5.1% more revenues.
No growth in 2002
The results of the Dutch hotels in 2002 are at the same level as in 2001. Due to the economic setback, the hotels were not able to increase hotel occupancy. Likewise, there were no increases in price: both in 2001 and 2002 the average room rate was € 104, with an occupancy of 74%.
Expectations 2003
The expectations indicate that the hotel managers are relatively positive about the future: 72% occupancy and € 108 average room rate. The three star hotels are most optimistic, and expect an increase in revenues of 6%. The four and five star hotels expect revenue increases of 4.0 to 4.5%. Hotels in Amsterdam, with an expected growth of 3.5%, are clearly less optimistic than hotels outside the Randstad area, where over 7% growth is expected.
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