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Published on : Wednesday, February 6, 2013
Hotels around the world generally had a good year in 2012 with demand outpacing supply and higher average prices as a result, Naureen Ahmed, forecast analyst at leading hospitality research company STR Global said. Occupancy levels and average daily rates (ADR) improved by moderate single-digit rates in most world regions in 2012.
In North America, demand was well ahead of supply, resulting in better occupancy levels and higher prices. In Asia and the Middle East, demand was healthily ahead of supply, also resulting in higher average levels of occupancy and price. In Central & South America, supply ran ahead of demand, resulting in low occupancy levels although prices remain stable. Africa saw better occupancy rates in 2012 as demand recovered but prices dropped back.
However, the picture was more mixed in Europe. Average occupancy stagnated as supply outpaced demand but average prices rose, driven by events such as the London Olympics and European football championship in Poland and Ukraine. In general, hotels in Western Europe saw stable low growth last year, Central & Eastern Europe grew healthily from a low level but Southern Europe struggled, she pointed out.
Looking ahead to 2013, Ahmed said that most major cities can expect moderate growth next year with higher room yields (revenue per available room). Among the winners will be large cities in Europe, the USA and Asia, while cities such as London, Madrid, Warsaw, Tokyo and Dubai will be among the losers for diverse reasons.