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Record Drop in the RevPAR in April 2003, But Slight Decrease of the Mid-term Trend |
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By Country: April 2003, All Segment
Official statistics from corporate operated hotel chains ARR and RevPAR are in EUROS Results for Corporate Operated Hotel Chains
Official statistics from corporate operated hotel chains ARR and RevPAR are in EUROS Record drop in all categories combined in April The revenue per available room globally recorded a fall in growth by 13.5% in April throughout the European Union zone. This drop is the largest that has been recorded since October 2001, the previous record drop in the RevPAR recorded by the MKG Consulting Database since 1997. The 4* category registered a large drop in activity: +17.1% in the RevPAR. The 3* also felt the negative effects of the war in Iraq and the SARS epidemic (-13.7% in the RevPAR). The budget hotel industry once again demonstrated its good resistance in the face of a gloomy environment. This category of hotel has in essence recorded a jump in its RevPAR in April +5.3% change for the 0* and +4.5% for the 1* versus April 2002 The midterm trend appears to be more encouraging: -1,1% in RevPAR for the last twelve months, the average room rates are increasing by 1.2% while the occupancy rate are decreasing by 1.5 point. Germany is highly impacted, France limits the damage At the European level, once again, thanks to its budget hotel industry highly present throughout its territory, France performs well versus the other countries: the RevPAR was down by 5.4% and the occupancy rate only lost 1.3 points. The rates also were clearly down in the other countries (-3.6% in the average daily rates). The record looser in this was Germany, whose average daily rates plummeted by more than 15%. Germany, the heaviest trader with China in Europe, not only underwent the effects of the war in Iraq, but it was also clearly affected by the SARS epidemic. In the end, Germany and Benelux are the zones that were the most heavily impacted in April, while Spain, the United Kingdom and Italy came out better, though still posting two-figure losses. In the mid-term, based on the change in the RevPAR over the last twelve months, France profited the best during this economic situation with a rise of 1.2%. In its wake comes the United Kingdom (+0.8%) that limited the damage Germany, on the other hand, was hit hard, recording a drop over twelve months of 8.2% in RevPAR. France and the Mediterranean countries once more on the podium at the end of 2003? Even if the worst seems to be over, the path to economic growth has not yet been found. In 2003, countries that offer a developed tourism policy will have probably yet again the opportunity to minimize the impact of an economy that is slowly moving in their hotel industries. This is the case with France, which reaps the benefits from inter-community and domestic tourism. "Long-haul" tourism will be heavily reluctant until confidence returns. Thus, in the months to come, and notably during the summer holiday period, Asian, Middle Eastern, and North African destinations will be penalized to the profit of "sunny European destinations". Methodology: This study is based on a sample of 5,000 corporate operated hotel chains in Europe, representing 500,000 rooms. The data, gathered monthly from each hotel, is adjusted according to the segmentation of the corporate operated hotel chain supply, and by the weight of each country in the European Union. These results come from figures supplied by the hotel chains located in France and throughout Europe, of which MKG Consulting is the official statistical supplier. |
Contact:
Georges Panayotis +33 (0)1 56 56 87 90 [email protected] http://www.mkgconseil.com |
Also See: | The Worldwide Ranking of Hotel Groups 2003; The World�s Top Ten International Groups Increase Their Supply by 2.6% / MKG / April 2003 |
The French Hotel Industry Confirms its Solidity in 2002 and Serenely Forecasts a Year 2003, Despite Geopolitical Instability / MKG Consulting / Feb 2003 | |
European Hotel Industry: Like Last Year, France is Doing Better than all its European Neighbours in 2002 / MKG Consulting / Jan 2003 | |
European Hotel Industry: An Encouraging Month of October / MKG Consulting / Dec 2002 | |
Europe�s Hotel Industry: France Posts Record Performance for September, 2002 / MKG Consulting / Oct 2002 | |
Assessment of the Summer Season for the European Hotel Industry / MKG / Oct 2002 |