Seven trending hotel news stories that will impact your hotel Revenue Strategy.
1. Amsterdam Europe’s most expensive destination on New Year’s Eve
Amsterdam proved to be Europe’s most expensive city for seeing in the New Year, according to a survey by French website Allovoyages.fr, which compared room rates in hotels three-star and above across 40 European destinations for 31 December 2017.
At €314 for the cheapest available double room, Amsterdam was Europe’s most expensive destination, followed by Edinburgh at €293. Edinburgh room rates retailed at 200% above regular hotel rates in the Scottish capital. However, this was not the biggest rate hike. Visitors to Prague paid 700% above the average January room rate at €274 for New Year’s Eve.
2. Occupancy continues to grow in Europe
Hotels in Europe continued to see increases in occupancy towards the end of 2017, with STR reporting that Europe’s hotels saw occupancy increase 1.9% in November to 71.2%. ADR for the same month increased 3.8% to €105.45 while RevPAR jumped 5.8% to €75.11.
The November 2017 occupancy figures were the highest for any November in STR’s database. According to the STR data, Tuesdays (80.3%) and Wednesdays (77.8%) showed the highest occupancy rates.Which European city had the highest hotel rates on New Year’s Eve? Click To Tweet
3. UK tourism forecast to grow in 2018
Overseas visitors to the UK are forecast to top 40 million in 2018, marking the first time arrivals have exceeded this mark, according to national tourism agency VisitBritain.
2017 saw 39.9 million visits, but VisitBritain has predicted that 41.7 million will visit the UK from overseas in 2018. Spending from overseas visitors is expected to increase 6.8% this year to reach £26.9 billion.
4. Paris on for record year for tourism in 2018
The French capital is expected to report 23 million tourist arrivals for 2017, but already Atout France has forecast that 2018 will be an even better year for the city.
According to the French Tourism Development Agency, 2018 will be the most successful year for Paris tourism since 2008. Atout France has cited major sporting events, cultural exhibition, historic anniversaries and a number of new luxury hotels as being the catalyst for this growth.
5. $14 billion in Middle East hotel investment forecast for 2018
A record value of hotel construction projects is expected to be awarded in the Middle East in 2018. According to MEED Projects, more than $14 billion in hotel construction projects will be awarded this year.
The total will exceed the previous record of $11.9 billion awarded in 2015. The UAE will be the largest market with an expected $8.4 billion worth of contracts, followed by Saudi Arabia with $1.9 billion and Qatar at $1.7 billion.
6. Middle East hotel performance continues to decline
Occupancy and rates continue to decline in the Middle East, with STR data for November 2017 showing a 1.8% drop in occupancy to 69.6%.
Average daily rates for the region dropped 4.6% to $171.10 while RevPAR dropped 6.3% to $119.01.
According to STR analysts, the consistent declines in RevPAR for the past two years correlate with a fall in oil prices. As a result, Qatar, Bahrain and Saudi Arabia saw the biggest performance decreases in 2017.
7. Scandic to open large conference hotel in Frankfurt
Scandic Hotels is to open a new conference hotel in the Hafenpark Quarter of Frankfurt. Slated to open in 2021, the new hotel will have 506 rooms and 2,000 square meters of conference and event space. It will also offer one of the largest ballrooms in Frankfurt at 600square meters.
The new hotel, the brand’s second in Frankfurt, forms part of Scandic’s strategy to open in Germany’s largest cities.
Stay up on hotel Revenue Strategy news and discuss industry tech trends in the Hotel Revenue Strategy Leaders Group on LinkedIn.
RELATED HOTEL REVENUE STRATEGY ARTICLES
- Diverse Offering Drives Germany’s Hotel Market
- 2017 Germany Market Report: Shaping Your Revenue Strategy
- UAE Hotels: How To Price Right And Accommodate New Tax Laws
Latest posts by Sarah McCay Tams, Director of Content, EMEA (see all)
Tags: 1:1 marketing, amsterdam hotels, atout france, big data, boost bookings, Duetto, edinburg hotels, europe hotel occupancy, Europe Hotels, French Tourism Development Agency, hotel distribution, hotel pricing, Hotel Revenue Management, hotel revenue strategy, hotel sales and marketing, hotel technology, hotel yielding, new year's eve, Personalization, RMS, VisitBritain