According to statistics from STR, in Q2 2016, Europe’s hotel industry reported nearly flat occupancy growth (+0.6% to 73.9%) and Central/South America region reported a decrease in occupancy. This year there has been a lot of reasons for concern around where we are in the economic cycle and whether geopolitical issues could disrupt the market. With all this happening resilience and focus on the future is important.
These videos show different attitudes towards this year’s hospitality market:
STR’s reports show that in the Central/South America region there 5.1% decrease in occupancy to 54.1% compared to Q2 2015. Average daily rate was up 5.3% to US$89.75. Revenue per available room was flat at US$48.58.
Performance in Europe was more positive with average daily rate going up 2.1% to EUR114.33. and revenue per available room up 2.7% to EUR84.49. However, in France there were decreases on all three of these: occupancy (-5.5% to 68.2%), ADR (-7.5% to EUR138.43) and RevPAR (-12.6% to EUR94.34).
And in Asia Pacific again performance is flattening out with an 1.3% increase in occupancy to 68.3% alongside an average daily rate decrease of 1.1% to US$96.95. Revenue per available room was nearly flat (+0.2% to US$66.18).
While these figures look gloomy there is reason to believe that with one recession in recent memory under the belt and markets showing an increased ability to bounce back, businesses can stay positive and face any possible obstacles head on.
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