Seven trending hotel news stories that will impact your hotel Revenue Strategy.
1. European Hotel Industry Sees ADR And RevPAR Growth in Q1 2017
The European hotel industry saw growth across the board in the first quarter of this year, with increases in occupancy, average daily rate and RevPAR, according to the latest data from STR.
Across the continent, Q1 2017 saw a 4.1% increase in occupancy to 63.5%, compared to Q1 2016. ADR grew by 2.3% to €100.94 ($110.83), compared to the year previous, and RevPAR jumped 6.5% to €64.06 ($70.33).
Spain recorded its 47th consecutive month of year-over-year RevPAR improvement in March 2017, with Barcelona fielding a standout performance with RevPAR growth of 13.6% in Q1 2017.
Full story at Hotel News Resource.
2. Record-Breaking RevPAR For London Hotels
Increased demand led hotels in London to report the highest ever RevPAR for any first quarter on record for Q1 2017, according to STR.
Hotels in the U.K.’s capital city saw RevPAR jump 11.3% to £101.50 ($130.88), occupancy increase 4.8% to 76.1% (the highest Q1 occupancy since 2010) and ADR reach a record level of £133.38 ($172.01), up 6.2% on Q1 2016.
Full story at Hotel Owner.Strong start to year for Europe’s hotels, plus 7 trending #revenuestrategy stories Click To Tweet
3. British Hotels Set For Record Year
An increased interest from overseas market following the drop in value of the pound looks set to deliver a record breaking year for British hotels, according to a report from Barclays Corporate Banking.
The report, which surveyed 10,000 guests from around the world, found that 63% of international holidaymakers were more interested in holidaying in the UK compared to last year. Chinese and US travellers were most interested in a British holiday for 2017.
Full story at Boutique Hotelier.
4. Digitisation Driving Middle East Hotel Industry
The impacts of digitisation, shifting global economic powers, demographics and ageing populations were some of the key issues up for debate at this year’s Arabian Hotel Investment Conference.
Artificial intelligence, the Internet of things, and other technological breakthroughs were all seen as catalysts for change for the region’s hospitality industry in the years to come.
Full story at Breaking Travel News.
5. Movenpick: Everyone Will Lose Out When VAT Comes To UAE
Olivier Chavy, the recently appointed CEO and president of Movenpick Hotels and Resorts, has claimed that the introduction of VAT to the UAE would impact employees and proprietors.
Talking at the recent Arabian Hotel Investment Conference he said: “I don’t think anyone will win at all.” However, he went on to add: “People will still travel. What you will see is a shift from luxury hotels to upscale hotels, from upscale to midscale hotels or some people will still come but they will stay in a budget hotel.”
VAT is being introduced to the UAE in 2018.
Full story at Hotel News ME.
6. Dependency on Google Makes it Harder to Compete
Google was called out as ‘the elephant in the room’ at EyeforTravel’s European Summit, as travel industry leaders came together to discuss topics related to distribution.
Bobby Healy, CTO of CarTrawler, said Google’s drive to dominate the top of the trip-planning funnel was the elephant in the room and a ‘big threat to everybody’. Momondo CEO Hugo Burge admitted that dependency on Google is ‘not a good place to be when it starts to compete with you’.
Full story at EyeforTravel.
7. UK Attractions Must Improve To Capitalise On Tourism Potential
Staycations remain a key part of the tourism matrix in the U.K., but tourism attractions could be missing out, according to research consultancy Future Thinking.
In a recent study, Future Thinking found that 38% of U.K. holidaymakers plan a weekend break in the U.K. this year, with the possibility of visiting an attraction such as a museum, zoo or heritage sites. The report also found that 30% of U.K. holidaymakers will be staying in the U.K. for their main holiday this year.
Full story at Travel Daily Media.
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Tags: ADR, Arabian Hotel Investment Conference, artificial intelligence, Barclays Corporate Banking, British, CarTrawler, Digitisation, Duetto, Europe Hotels, EyeForTravel, Google, hotel distribution, hotel pricing, Hotel Revenue Management, hotel revenue strategy, hotel sales and marketing, hotel technology, hotel yielding, London hotels, Momondo, RevPAR, RMS, staycation, STR, VAT