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Despite a weakening US dollar and rising fuel costs, Small Luxury Hotels of the World saw record arrivals and revenue during the month of October (year-to-date) and a 21% increase in total reservations revenue year-to-date compared to the same period last year.
The USA represents the largest source market for Small Luxury Hotels of the World (60% of total business) and this encouraging performance demonstrates that the market has remained resilient to the country’s weakening economic conditions.
This is further supported by the fact that not only did total reservations increase, but the Average Daily Rate grew by nearly 10% compared to last year, to reach US$369 per night.
“The impressive performance of the brand, both in terms of total reservations and revenue, is further evidence that guests of Small Luxury Hotels of the World properties continue to feel that they are receiving value for money,” commented Paul Kerr, Chief Executive Officer of Small Luxury Hotels of the World. “As long as our 440 or so properties continue to deliver unique and memorable experiences we are confident that reservations and revenue growth will remain robust,” Mr Kerr added.
The countries with the best revenue performance for the third quarter of 2007 were France, Italy, Russia, Germany and the United States. Led by strong business travel as companies got back in full swing after the Northern Hemisphere summer, hotels in Paris, London, Rome, Florence, New York, San Francisco and Boston saw RevPAR increases in the majority of cases by up to 30% per market, with Paris and London leading the way respectively. The surge in RevPAR in both Paris and London was aided greatly by Small Luxury Hotels of the World’s very strong grouping of properties in both these markets. Meanwhile, the demand for luxury hotel experiences in Moscow was made very clear as reservations through the Small Luxury Hotels of the World booking channels more than doubled compared to 2006, helped by the addition of new hotels in the city.
Online bookings for Small Luxury Hotels of the World through both the main website (www.slh.com) and The Club of Small Luxury Hotels of the World (www.slhclub.com) continue to play an enormous role in the growth of reservations with just over 20% of all reservations coming through the Internet. One of the many factors driving online bookings is The Club of Small Luxury Hotels of the World. Through the web-based customer recognition programme, guests receive special offers, room upgrades and most importantly, extra recognition and personalised service as a result of the personal profile of preferences which follows them around the world as they stay at different properties. Although bookings from travel agents remain strong, and very much a part of Small Luxury Hotels of the World’s core business, online reservations through slh.com are expected to increase by between 10% and 15% over the next year as the luxury brand continues to make online enhancements and drive consumers and travel agents to its award-winning website.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
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