GBR Tourism Barometer 2014 Q3

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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).

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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  • 1. Tourism Barometer Snapshot Q3 2014 Expectations of the Greek Hospitality Sector July 2014
  • 2. Barometer Snapshot Q3 2014 • Overall the Greek hotel sector is very optimistic for the coming third quarter of 2014. Significant increases are forecasted compared to the same period last year for both occupancy and room rates. • The city hoteliers have a very positive outlook for Q3 2014 on all levels, while the resort hotels are more cautious in their predictions: although the barometers show a positive development overall, still approximately 4 out of 10 resort hoteliers expect stabilising occupancy levels and ARRs or even decreases. • The analysis per hotel category of this quarter’s barometer survey shows that – The 5 and 4 star hoteliers are very positive expecting strong improvements in occupancy and room rates this quarter. – The 3 star hotels are among the most optimistic of this quarters’ survey. Significant improvements are forecasted on all fronts. – The 2 star hoteliers are optimistic with respect to their occupancy levels as they forecast significant improvements. However, in terms of room rates they expect overall a stabilising trend for both their own hotels as for the market in general.
  • 3. 50.0% 7% 18% 19% 19% 37% • 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 How to read the Quarter meters 37% expects stabilisation – between -2% and +2% 18% expects an increase - between 2% and 5% 7% expects an increase – more than 5% 19% expects a decrease – more than 5% The needle shows the overall expectation / feeling1 19% expects a decrease – between 2% and 5% 1 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%
  • 4. 5% 3% 18% 32% 42% «MY HOTEL» All hotels The Greek hoteliers continue to be very optimistic on the performance of their hotels in the third quarter of this year. They forecast significant improvements in occupancy levels and room rates compared to the same quarter last year. For the market in general hoteliers are slightly more cautious on ARR development, but still very positive. 7% 6% 17% 38% 33% 3% 6% 15% 38% 37% «MARKET IN GENERAL» 5% 8% 21% 37% 29% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 5. 2% 11% 29% 58% «MY HOTEL» City hotels The city hoteliers in the barometer survey expect clearly significant improvements in the overall performance of their hotels. Almost 9 out 10 hoteliers expect occupancy levels to improve with 2% or more for both their hotel units and the market as a whole. With respect to room rates about 8 out 10 hoteliers expect similar performance. 2% 2% 15% 39% 42% 2% 11% 41% 46% «MARKET IN GENERAL» 3% 3% 20% 38% 38% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 6. 6% 8% 23% 35% 29% «MY HOTEL» Resort hotels The resort hotels are more cautious than the city hotels in their forecast for the coming quarter. Even though the barometers show a positive development overall, there is a group of hoteliers that expects stabilising occupancy levels and ARRs or even decreases. Around 4 out 10 hoteliers fall in these categories, while 6 out of 10 hoteliers expect increases of 2% and more for both occupancy and room rates. 10% 8% 18% 37% 27% 6% 10% 21% 35% 29% «MARKET IN GENERAL» 7% 14% 21% 37% 21% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 7. 3% 3% 11% 37% 46% «MY HOTEL» 5* hotels The 5 star hoteliers have forecasted for this coming quarter significant improvements in occupancy levels and room rates. We note that for the market in general, 24% expects stabilising and 6% falling ARRs. On the other hand, 69% has forecasted strong increases in ARR and 82% in occupancy as well. 3% 15% 47% 35% 3% 3% 12% 55% 27% «MARKET IN GENERAL» 3% 3% 24% 45% 24% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 8. 7% 19% 32% 42% «MY HOTEL» 4* hotels The barometers of the 4 star hotels are all predicting a very good third quarter compared to last year. Nevertheless, a large minority expects stabilising levels or even decreasing rates. The forecasts of the market in general is very similar to the forecasts of their own hotels. 3% 7% 26% 29% 36% 3% 6% 19% 31% 41% «MARKET IN GENERAL» 7% 28% 31% 35% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 9. 20% 25% 55% «MY HOTEL» 3* hotels The 3 star hoteliers are the most optimistic of the barometer survey for the coming quarter. In terms of occupancy none of the hoteliers is expecting decreases and for rooms rates only 6% expects mild decreases of 2-5% as far as their own hotels are concerned. For the market in general the outlook is also very positive with 85% expecting increases in occupancy of 2% and more and 82% similar increases in ARR. 5% 10% 25% 60% 6% 13% 38% 44% 6% 13% 38% 44% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3 «MARKET IN GENERAL»
  • 10. 11% 11% 16% 26% 37% «MY HOTEL» 2* hotels The 2 stare hoteliers show a mixed picture. While they are very optimistic to improve their occupancy rates with at least 2%, they expect overall stabilising room rates. For both the market as a whole and their own hotels around 50% expects increases while the other 50% expects stabilising ARRs or decreases. 25% 13% 13% 31% 19% 6% 11% 17% 22% 44% «MARKET IN GENERAL» 13% 25% 13% 31% 19% ΟCC ARR ΟCC ARR Decrease 2 – 5% Stability -2% - +2% Increase >5% Decrease >5% Increase 2 – 5% % of respondents that expected Expectations for 2014 Q3
  • 11. 4, Sekeri Street 106 74 Athens Phone: +30 210 3605002 Fax: +30 210 3606935 Web: www.gbrconsulting.gr Email: gbr@gbrconsulting.gr Tourism Barometer 2014 Q3 Expectations Greek Hospitality Sector