European cities saw unprecedented hotel performance in Almost all the cities in our latest forecast are expected to see further growth in and Strong demand has propelled some into the spotlight yet again.
Follow the conversation on twitter hotelsforecast. Geneva and Rome are also forecast to see some moderate growth. But the pace of growth is expected to slow in London in , as the weak pound effect fizzles out and a supply spike dampens occupancy.
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Paris has shown sustained recovery and shares the top spot on the growth chart in with Lisbon, with around 6. Analysis of three key metrics in absolute terms shows a very different picture:. Geneva and Zurich follow and London takes fourth place this year. We anticipate relatively upbeat global growth in More importantly, we expect growth to be broad based and synchronised, rather than dependent on a few countries.
In the Eurozone, peripheral Eurozone economies are expected to outpace the core.
European cities hotel forecast & PwC
Both strong wage growth and high employment should support leisure and travel spending. Stellar global travel demand drove m international overnight visitors to Europe in , driving record hotel metrics.
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Besides the strong demand from intra-European markets, US, China and the Russian Federation contributed significantly to growth. Another record year is anticipated in and there is no sign the boom is running out of steam yet. Supply growth has remained relatively constrained in many destinations across Europe and this has allowed occupancies to soar, driving up ADR.
Smith Travel Research report that Europe has see seven years of limited supply growth together with mainly good demand growth - an ideal backdrop for hoteliers. But how long can this continue?
OTAs Online Travel Agencies have an important role to play in selling perishable goods rooms and should be integrated in a well-defined corporate and property-based revenue management strategy. As we move into a world where data is king, we are also convinced that comprehensive, organised and easily retrievable guest data will be a vital ingredient in the profitable growth of operators going forward.
One area where hotels have to spend more is acquiring customers through Online Travel Agencies and other intermediaries - this continues to push up commission fees and challenge hotels. View more. Two tools are becoming indispensable for hoteliers who want to find out what guests want. First, hoteliers need to thoroughly analyse online guest reviews and use review comments as a foundation for capital expenditure and operational process decisions. Secondly, the industry needs to leverage rapid developments in digitalisation and big data to capture, segment, analyse and group guest data in the most useful way.
We carry a lot of discussions with start-ups to better understand how we can collaborate to reach younger customers and see how we can adapt our offer to better suit the needs of Millennials. Increasing international demand for key destinations needs to be carefully managed. An approach to controlled growth should include formulating a clear destination strategy, including a clear positioning, as a basis for government action and the provision of private services. This could include city planning and zoning, hotel development regulation, centralised product offering planning, infrastructure planning, and so on.
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