![[PR] PR_Ascott and Vimut Hospital_2024](https://www.traveldailynews.asia/wp-content/uploads/2024/04/PR-PR_Ascott-and-Vimut-Hospital_2024-400x265.jpg)
The latest survey compiled by Horwath Hotel, Tourism and Leisure (HTL), the world’s largest hospitality consulting firm, has shown that hotel operators around the globe are more optimistic about the coming few months than…
The latest survey compiled by Horwath Hotel, Tourism and Leisure (HTL), the world’s largest hospitality consulting firm, has shown that hotel operators around the globe are more optimistic about the coming few months than at any time since the financial crisis took hold in 2008. The survey, which summarises responses from over 50 countries, shows that whereas there are still grave concerns about the price and availability of oil, hotel operators around the world believe that the recovery can be sustained.
The Survey provides the hotel industry with a quick assessment of the future market outlook. The four-question survey focuses on the outlook for occupancy, average room rates and total revenue. Hoteliers have also been asked to make comments on their expectations for the coming year in comparison to 2010, as well as identify key factors of growth/decline, assessing the outlook for key demand segments.
- What is your assessment of the hotel market outlook for 2011 versus 2010?
- For your hotel, what is your expectation for growth/decline in 2011 versus 2010?
- How are each of the factors below expected to influence hotel market performance in 2011?”
- How are each of the major demand segments expected to perform in 2011 versus 2010?” The sentiment scores run from -150 for the worst, to +150 for the most optimistic.
Oceania remains the most optimistic region with a survey score of 58. The whole region, probably the least affected by the Wests financial crisis, has continued to perform significantly better than anywhere else. Asia continues to surge ahead with a sentiment score of 52, while the Americas, where the fears of a double dip recession were prevalent in 2010, has rebounded to some extent with a healthier outlook for 2011 and a sentiment score of 37, just ahead of Europe on 34. Previous surveys have shown sluggish expectations for average room rate growth, but the outlook for 2011 shows that this is improving.
Damien Little, a Director of Horwath HTL in Asia and the founder of the survey said, “An improved economic environment is the key factor driving growth. The more positive outlook on display here is very promising, but should be taken with a note of caution. The recovery is still fragile and recent events in North Africa and the Middle East continue to cause uncertainty, raising the prospect of an extended period of time with oil at over 100 $ a barrel. This knock on effect would impact travel, airlines, fuel costs and ultimately profitability. We see a cautious optimism for 2011, but with one eye on oil prices and the general effect that many of the deficit reduction plans could still have on the wider, predominately Western economies as a whole”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
