Tourism Barometer
Snapshot Q1 2014
Expectations of the
Greek Hospitality Sector

January 2014
Barometer Snapshot Q1 2014
•

For the hotel sector in general the barometers of the first quarter of 2014 show
optimism in...
How to read the Quarter meters
• All the meters reflect the hoteliers’ projections for current Quarter with
respect to Occ...
Expectations for 2014 Q1
«MY HOTEL»
All hotels

44%

26%

For the first quarter of
2014 hotels are overall
optimistic on
o...
Expectations for 2014 as a whole
«MY HOTEL»
All hotels
Hoteliers are optimistic
that the recovery of
2013 will continue in...
Expectations for 2014 Q1
«MY HOTEL»
City hotels
City hoteliers remain
positive, also for this
first quarter of 2014.

32%
...
Expectations for 2014 as a whole
«MY HOTEL»
City hotels

41%
31%

The city hoteliers are
hoping to further
benefit from th...
Expectations for 2014 Q1
«MY HOTEL»
Resort hotels
93%

With respect to the
resort hotels that are
operating this first
qua...
Expectations for 2014 as a whole
«MY HOTEL»
Resort hotels
For 2014 as a whole
the resort hoteliers
maintain the positive
m...
Expectations for 2014 Q1
«MY HOTEL»
5* hotels
33%

The 5* segment is
optimistic with respect
to occupancy this Q1
2014. Th...
Expectations for 2014 as a whole
«MY HOTEL»
5* hotels
60%

55%

For the new year of
2014 as a whole the 5*
hoteliers are m...
Expectations for 2014 Q1
«MY HOTEL»
4* hotels
28%

The 4* segment is
expecting a good start
of 2014 with improving
occupan...
Expectations for 2014 as a whole
«MY HOTEL»
4* hotels
44%

41%

For the year as a
whole the 4* segment
is very optimistic....
Expectations for 2014 Q1
«MY HOTEL»
3* hotels
The 3* hoteliers are
expecting this first
quarter of 2014
stabilising to imp...
Expectations for 2014 as a whole
«MY HOTEL»
3* hotels
60%

For 2014 as a whole
the 3* hoteliers remain
optimistic with res...
Tourism Barometer
2014 Q1
Expectations
Greek Hospitality Sector

4, Sekeri Street
106 74 Athens
Phone: +30 210 3605002
Fax...
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Gbr tourism barometer 2014 Q1

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The GBR Consulting Barometer is a regular suvey to obtain insights into the Greek hotel industry's opinions current issues as well as expectations about Occupancy (OCC) and Average Room Rate (ARR).

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Gbr tourism barometer 2014 Q1

  1. 1. Tourism Barometer Snapshot Q1 2014 Expectations of the Greek Hospitality Sector January 2014
  2. 2. Barometer Snapshot Q1 2014 • For the hotel sector in general the barometers of the first quarter of 2014 show optimism in terms of occupancy development. However, hoteliers are more cautious on ARR as they forecast stabilising to slightly increasing room rates. • For the year of 2014 as a whole the hotel sector expects to achieve significant improvements in both occupancy and room rates. More specifically: • For Q1 2014 city hoteliers expect significant increases in occupancy and stabilising room rates, while the resort hotels expect to operate at the same levels as last year. The 5*, 4* and 3* hotel categories all expect this quarter increases in occupancy. In terms of ARR only the 4* is expecting improvements as the 5* is forecasting only slightly higher levels, while the 3* expects drops in room rates. • For 2014 a a whole both city and resort hoteliers are very positive. Significant increases in occupancy are expected, while also achieving higher rates. The 5* and 4* segments are expecting to achieve higher occupancies and ARRs, while the 3* sector is more cautious with improving occupancy levels and similar room rates as last year.
  3. 3. How to read the Quarter meters • All the meters reflect the hoteliers’ projections for current Quarter with respect to Occupancy (OCC) and the Average Room Rate (ARR) for: – their Own Hotels, in the top half of each page – the Market Overall, in the bottom of each page 37% expects stabilisation – between -2% and +2% The needle shows the overall expectation / feeling1 19% expects a decrease – between 2% and 5% 19% 18% expects an increase between 2% and 5% 37% 18% 19% 7% 19% expects a decrease – more than 5% 1 7% expects an increase – more than 5% The position of the arrow is based on the weighted average of the projections for increases and decreases, where the increases / decreases of more than 5% have a weight twice as high as the increases / decreases of between 2% and 5% 50.0%
  4. 4. Expectations for 2014 Q1 «MY HOTEL» All hotels 44% 26% For the first quarter of 2014 hotels are overall optimistic on occupancy rates as almost half of them expects increases of 2% and more compared to the same quarter last year, both for their own hotels as well as for the market in general. With respect to ARR, they are less optimistic for Q1. Hoteliers predict slight increases in room rates for both their own hotel units and the market as a whole. 44% 21% 3% 6% 21% 17% 12% 6% ARR ΟCC «MARKET IN GENERAL» 49% 50% 48% 24% 41% 15% 23% 12% 18% 14% 5% ARR ΟCC % of respondents that expected Decrease >5% 51% Decrease 2 – 5% Stability -2% - +2% Increase 50% 2 – 5% Increase >5%
  5. 5. Expectations for 2014 as a whole «MY HOTEL» All hotels Hoteliers are optimistic that the recovery of 2013 will continue in 2014 with significant improvements in occupancy levels and increases in the room rates. About 74% expects occupancy increases of more than 2% for their own hotel units compared to 2013 and 61% expects this increase for their room rates. 44% 41% 30% 21% 30% 20% 7% 2% 4% 1% ARR ΟCC «MARKET IN GENERAL» 100% 50% 38% 33% 38% 28% 28% 4% 1% 18% 9% 2% ARR ΟCC The forecasts for the market in general show similar trends. % of respondents that expected Decrease >5% 51% Decrease 2 – 5% Stability -2% - +2% Increase 2 – 5% 50% Increase >5%
  6. 6. Expectations for 2014 Q1 «MY HOTEL» City hotels City hoteliers remain positive, also for this first quarter of 2014. 32% 46% 31% 17% 25% 4% 8% 15% 14% 8% ARR ΟCC Occupancy levels will improve at a faster pace than room rates, but overall the barometers show optimism for both their own hotels as well as for the market as a whole. «MARKET IN GENERAL» 50% 49% 28% 46% 35% 17% 27% 10% 16% 15% 6% ARR ΟCC % of respondents that expected Decrease >5% 51% Decrease 2 – 5% Stability -2% - +2% Increase 2 – 5% 49% Increase >5%
  7. 7. Expectations for 2014 as a whole «MY HOTEL» City hotels 41% 31% The city hoteliers are hoping to further benefit from the improved climate and expect strong increases in occupied rooms in 2014 compared to last year. Furthermore, they forecast that the room rates will improve significantly as well this year. The forecasts for the market in general and the expectations for their own hotels are very similar. 35% 24% 31% 22% 10% 2% 4% ARR ΟCC «MARKET IN GENERAL» 100% 49% 39% 28% 29% 41% 29% 12% 16% 2% 4% ARR ΟCC % of respondents that expected Decrease >5% 49% Decrease 2 – 5% Stability -2% - +2% Increase 49% 2 – 5% Increase >5%
  8. 8. Expectations for 2014 Q1 «MY HOTEL» Resort hotels 93% With respect to the resort hotels that are operating this first quarter, 93% is expecting stabilising occupancy levels, while the room rates for their own hotels are expected to slightly improve this quarter. For the market in general it is forecasted that resort hotels will operate at the same occupancy and room rate levels as last year’s quarter. 36% 36% 7% 21% 7% ARR ΟCC «MARKET IN GENERAL» 50% 49% 57% 64% 29% 7% 7% 7% 21% 7% ARR ΟCC % of respondents that expected Decrease 49% >5% Decrease 2 – 5% Stability -2% - +2% Increase 49% 2 – 5% Increase >5%
  9. 9. Expectations for 2014 as a whole «MY HOTEL» Resort hotels For 2014 as a whole the resort hoteliers maintain the positive mood. All barometers are deeply green coloured, which means that hotels are expecting significant increases in both occupancy levels and room rates in 2014 compared to 2013, both for their own hotel units as well as for the market as a whole. 47% 18% 51% 29% 4% 2% 26% 18% 4% 2% ARR ΟCC «MARKET IN GENERAL» 100% 50% 37% 37% 35% 29*% 27% 4% 2% 20% 6% 2% ARR ΟCC % of respondents that expected Decrease >5% 49% Decrease 2 – 5% Stability -2% - +2% Increase 49% 2 – 5% Increase >5%
  10. 10. Expectations for 2014 Q1 «MY HOTEL» 5* hotels 33% The 5* segment is optimistic with respect to occupancy this Q1 2014. They forecast significant improvements this quarter for both their own hotels and for the market in general. With respect to the room rates, the 5* hoteliers are more cautious, but still positive. Slightly higher room rates may be achieved this quarter compared to last year. 42% 12% 25% 29% 17% 4% 8% 21% 8% ARR ΟCC «MARKET IN GENERAL» 49% 51% 29% 33% 41% 17% 17% 13% 25% 17% 8% ARR ΟCC % of respondents that expected Decrease >5% 49% Decrease 2 – 5% Stability -2% - +2% Increase 51% 2 – 5% Increase >5%
  11. 11. Expectations for 2014 as a whole «MY HOTEL» 5* hotels 60% 55% For the new year of 2014 as a whole the 5* hoteliers are much more optimistic than the first quarter of this year. 33% 12% 5% 2% ARR ΟCC «MARKET IN GENERAL» They expect significant increases of occupancy levels and none of the hoteliers forecasted a drop. Also the room rates this year are expected to improve significantly albeit at a lower level than the occupancy. 24% 10% 100% 50% 43% 41% 36% 29% 29% 17% 2%5% ARR ΟCC % of respondents that expected Decrease 51% >5% Decrease 2 – 5% Stability -2% - +2% Increase 51% 2 – 5% Increase >5%
  12. 12. Expectations for 2014 Q1 «MY HOTEL» 4* hotels 28% The 4* segment is expecting a good start of 2014 with improving occupancy and room rates. Very few expect decreases in occupancy, while about half of the market expects increases of 2% and more, both for their own hotels and the market as a whole. A similar trend is seen at the ARR forecasts, although for the market in general they are slightly more cautious. 40% 48% 40% 20% 4% 8% 8% 4% ARR ΟCC «MARKET IN GENERAL» 50% 50% 52% 24% 36% 16% 28% 12% 16% 16% ARR ΟCC % of respondents that expected Decrease >5% 50% Decrease 2 – 5% Stability -2% - +2% Increase 50% 2 – 5% Increase >5%
  13. 13. Expectations for 2014 as a whole «MY HOTEL» 4* hotels 44% 41% For the year as a whole the 4* segment is very optimistic. 44% 9% 6% 27% 6% ARR ΟCC All barometers show that the fast majority is expecting a good year in comparison with 2013 with significant improvements in occupancy and room rates. Only 6% of the hoteliers expect decreases of 2 – 5% in occupancy and ARR for both the market in general and their own hotel units. 24% «MARKET IN GENERAL» 100% 50% 38% 35% 29% 44% 27% 15% 6% 6% ARR ΟCC % of respondents that expected Decrease >5% 50% Decrease 2 – 5% Stability -2% - +2% Increase 50% 2 – 5% Increase >5%
  14. 14. Expectations for 2014 Q1 «MY HOTEL» 3* hotels The 3* hoteliers are expecting this first quarter of 2014 stabilising to improving occupancy levels for both their own hotels and for the market in general. However, they are not optimistic on their room rates as they predict drops in the range of 2 – 5% compared to the same quarter last year. 51% 70% 18% 38% 11% 12% ARR ΟCC «MARKET IN GENERAL» 50% 50% 58% 63% 19% 12% 29% 8% 11% ARR ΟCC % of respondents that expected Decrease >5% 50% Decrease 2 – 5% Stability -2% - +2% Increase 50% 2 – 5% Increase >5%
  15. 15. Expectations for 2014 as a whole «MY HOTEL» 3* hotels 60% For 2014 as a whole the 3* hoteliers remain optimistic with respect to occupancy, both for their own hotels as well as for market. Regarding room rates they expect that after the forecasted drop in Q1 of 2014, rates will stabilise throughout the year and perhaps slightly improve. None of the 3* hotels is predicting drops of more than 5% though. 73% 27% 7% 7% 7% 13% 7% ARR ΟCC «MARKET IN GENERAL» 100% 50% 60% 47*% 33% 13% 13% 7% 20% 7% ARR ΟCC % of respondents that expected Decrease >5% 50% Decrease 2 – 5% Stability -2% - +2% Increase 50% 2 – 5% Increase >5%
  16. 16. Tourism Barometer 2014 Q1 Expectations Greek Hospitality Sector 4, Sekeri Street 106 74 Athens Phone: +30 210 3605002 Fax: +30 210 3606935 Web: www.gbrconsulting.gr Email: gbr@gbrconsulting.gr

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