HRG sees hotel business flourish despite downturn
Global hotel sales are bearing up well during the economic downtown, according to travel management company Hogg Robinson Group.
Its six month survey revealed the international market is proving resilient with almost every region achieving growth.
Moscow topped the chart as the most expensive city, with 25% growth in rates while India’s booming economy saw Mumbai experience an average rate increase of 37%.
HRG also notes that all the European key markets put in strong performances with Berlin, helped by the international film industry and an upsurge in conference and exhibitions, seeing a rate rise of 39%. It also saw Abu Dhabi enter the top ten most expensive cities for the first time with an average rate growth of 23% – the emirate’s rates now rival those of Dubai’s.
In Asia Pacific and Eastern Europe rates grew by 20% and 22% respectively which HRG believes is a reflection of those areas’ concentration on the luxury end of the market and a shortage in supply.
London, however, although maintaining growth at 2%, saw business slacken off and is now 16th on the most expensive chart. In North America, rates have remained relatively static.
Director global hotel relations at HRG Margaret Bowler said: “The hotel industry has continued to show an increase in hotel rates, albeit at a slower rate than we saw for the same period in 2007. However, as the market softens we can expect to see more hotels adopting sensible pricing in order to maintain current occupancy levels.â€
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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