The Belgium hotel industry expects higher occupancies and average room rates this year, as shown in…
The Belgium hotel industry expects higher occupancies and average room rates this year, as shown in research by Horwath Consulting. The expectations predict 3.3% more hotel guests which should result in a occupancy of 69%. The room rates, as projected, will raise with 6.1%, resulting in a expected average room rate of €103. For the average hotel this should result in a revenue increase of 9.5%.
Expectations 2003
Hotels in the 3 star segment are most optimistic. They expect an increase in revenue of 15.6%. The 4 star hotels are positive as well, with an expected revenue which will be 9.5% higher than last year. The 5 star hotels are the least optimistic. They expect an increase in revenue of 6.6%.
Brussels
Hoteliers in Brussels are less optimistic than their colleagues in the rest of Belgium. They expect a growth in occupancy of 1.5% and a price increase of 6.2%. This will result in an increase in revenue of 7.7%. Possibly the hoteliers in Brussels are more hesitant because they are dependent on a large number of international guests. Hotels in Brussels are more sensitive to the results of terrorism and the threat of war.
Horwath estimate Belgie 2003
Average occupancy (in percentage) and average room revenue (in Euro)
* Expected – Source: Horwath Consulting
Iraq – Predictions about the effects on the Belgium hotels of a possible war in Iraq are difficult to make, according to Horwath Consulting. It can be expected that an outbreak of war in Iraq will influence the results in a negative way. At the least, it should temper the positive expectations.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
