The document summarizes the results of a survey of 100 Irish hoteliers regarding their performance in the first quarter of 2011 and their outlook for the rest of the year. Key findings include:
- 87% of hoteliers were confident or very confident that performance would improve in 2011.
- 75% expected occupancy to increase while 56% expected average room rates to rise.
- However, 43% reported decreased revenues for Q1 2011 compared to the previous year.
- Price competition was seen as the main threat to performance.
- Over half planned to increase sales and marketing to boost business.
Project Report on Performance Appraisal System and Effectiveness in Flora Hot...PS NEEMISH
The study covers employees of Flora Hotel Cochin.
A survey was conducted for information about the performance appraisal
system that was used in the company.
The study focuses on type, effectiveness and employee attitude of the
appraisal system.
To help management plan future development and growth.
The sample size of 50 employees was selected at random from all
departments.
The survey found that while companies remain confident about prospects for growth, expectations for revenue growth have become more modest than in 2011. New market segments and product/service innovation were identified as the top strategies for growth. However, less than half of companies planning to enter new markets have progressed to the implementation stage, compared to 63% in 2011. The global economic downturn is now seen as the most significant macro-economic trend impacting companies, with 62% citing it as a key factor.
The survey found that while companies remain confident about prospects for growth, expectations for revenue growth have become more modest than in 2011. New market segments and product/service innovation were identified as the top strategies for growth. However, less than half of companies planning to enter new markets have progressed to the implementation stage, compared to 63% in 2011. The global economic downturn is now seen as the most significant macro-economic trend impacting companies, with 62% citing it as a key factor.
- The accounting and finance market in Singapore was mixed in 2011, with strong hiring early in the year but slowing significantly in the second half as the European sovereign debt crisis impacted financial institutions.
- Salaries for permanent roles ranged from $40k-$330k depending on level, with bonuses likely to be reduced or eliminated for 2012. Demand remained for commodities, product control and management reporting professionals but employers became highly selective
The document provides an overview of hiring trends and salary expectations in the accountancy and finance sector in Ireland for 2011. Key points include:
- Respondents to a survey expect modest salary increases and stable or increased headcounts in 2011, indicating growing confidence.
- Financial services and multinationals dominated hiring in 2010 while SME hiring was suppressed due to liquidity issues.
- Salaries were generally stable in medium companies but declined up to 30% in smaller firms.
- Larger multinationals and industry-agnostic companies presented the most opportunities and were more selective in hiring.
- Overall the market outlook is cautiously optimistic with expectations of improved economic conditions and more permanent roles in 2011
This document provides context on the telecommunications sector. It notes that telecom operators have weathered economic uncertainty and volatility relatively well due to their defensive positioning. However, their future growth is uncertain as investors question the levels of capital expenditure needed to support growth and whether operators or over-the-top players will monetize new offerings. Some positive trends for operators include easing mobile termination rate regulations and a slowing pace of landline decline, but telecom revenues remain linked to employment rates which are trending downward. Overall, operators can benefit from improving performance supported by structural changes, strong cost control, and network sharing.
Project Report on Performance Appraisal System and Effectiveness in Flora Hot...PS NEEMISH
The study covers employees of Flora Hotel Cochin.
A survey was conducted for information about the performance appraisal
system that was used in the company.
The study focuses on type, effectiveness and employee attitude of the
appraisal system.
To help management plan future development and growth.
The sample size of 50 employees was selected at random from all
departments.
The survey found that while companies remain confident about prospects for growth, expectations for revenue growth have become more modest than in 2011. New market segments and product/service innovation were identified as the top strategies for growth. However, less than half of companies planning to enter new markets have progressed to the implementation stage, compared to 63% in 2011. The global economic downturn is now seen as the most significant macro-economic trend impacting companies, with 62% citing it as a key factor.
The survey found that while companies remain confident about prospects for growth, expectations for revenue growth have become more modest than in 2011. New market segments and product/service innovation were identified as the top strategies for growth. However, less than half of companies planning to enter new markets have progressed to the implementation stage, compared to 63% in 2011. The global economic downturn is now seen as the most significant macro-economic trend impacting companies, with 62% citing it as a key factor.
- The accounting and finance market in Singapore was mixed in 2011, with strong hiring early in the year but slowing significantly in the second half as the European sovereign debt crisis impacted financial institutions.
- Salaries for permanent roles ranged from $40k-$330k depending on level, with bonuses likely to be reduced or eliminated for 2012. Demand remained for commodities, product control and management reporting professionals but employers became highly selective
The document provides an overview of hiring trends and salary expectations in the accountancy and finance sector in Ireland for 2011. Key points include:
- Respondents to a survey expect modest salary increases and stable or increased headcounts in 2011, indicating growing confidence.
- Financial services and multinationals dominated hiring in 2010 while SME hiring was suppressed due to liquidity issues.
- Salaries were generally stable in medium companies but declined up to 30% in smaller firms.
- Larger multinationals and industry-agnostic companies presented the most opportunities and were more selective in hiring.
- Overall the market outlook is cautiously optimistic with expectations of improved economic conditions and more permanent roles in 2011
This document provides context on the telecommunications sector. It notes that telecom operators have weathered economic uncertainty and volatility relatively well due to their defensive positioning. However, their future growth is uncertain as investors question the levels of capital expenditure needed to support growth and whether operators or over-the-top players will monetize new offerings. Some positive trends for operators include easing mobile termination rate regulations and a slowing pace of landline decline, but telecom revenues remain linked to employment rates which are trending downward. Overall, operators can benefit from improving performance supported by structural changes, strong cost control, and network sharing.
The document provides an investor presentation for 7 Days Group Holdings Limited from March 2013. It contains the following key points in 3 sentences:
1) 7 Days Group is a major economy hotel chain in China that has experienced rapid growth, opening over 400 new hotels in 2012 alone to reach over 1,300 hotels total.
2) The presentation outlines 7 Days Group's strategy of focusing on managed hotels to drive long-term profitable growth at lower risk and higher margins compared to leased-and-operated hotels.
3) Financial highlights show that 7 Days Group has achieved twelve consecutive profitable quarters since 2010 and increasing economies of scale are supporting ongoing profit and cash flow growth.
Etude PwC sur l'information financière 2012PwC France
The document provides a summary of findings from a survey of 30 European investors and analysts on key financial reporting priorities. Some of the main findings from the survey include:
1) Most investors agree that a period of stability in accounting standards would be welcomed once current projects are completed, however ongoing improvements should still be made.
2) The majority of investors do not view convergence with US GAAP as an absolute priority and believe quality of standards is more important than convergence.
3) Nearly all investors believe non-GAAP measures are important for understanding company performance, but many are concerned about inconsistencies in how they are used and presented. Most also find definitions of items like operating profit in financial statements to be inadequate
In order to provide business leaders and companies with a up-to-the-minute
barometer of their peers’ confidence and outlook for the coming year the Regus
Business Confidence Index Report analysed the opinions of over 16,000 business
managers and business owners from 86 countries. In addition to enquiring about
revenues and profits over the past year, and about their revenue expectations for
the next 12 months, the report also analysed their views on factors that had caused
particular corporate distress during the downturn, stability creating policies for future
growth and cost saving measures that do not hinder company growth.
The document is a survey report from the Robert E. Nolan Company about operational priorities for property and casualty insurance executives. The survey found that maintaining underwriting discipline and profitability is the top priority amid current market volatility. Executives also prioritized carefully managing expenses, improving customer service, pursuing organic growth, and investing in talent. Respondents agreed that focusing on internally controllable factors like risk evaluation, underwriting quality, pricing segmentation, service differentiation, and expense management will be key to success.
Business in the Community Ireland CEO Survey October 2012Amarach Research
A survey of 100 Irish CEOs/Managing Directors from Ireland's top 1,000 companies.
More details - and a handy infographic - available at the Business in the Community Ireland website:
http://www.bitc.ie/2012/10/ceo-survey-shows-responsible-business-practice-positive-impact-botton-line/
The survey found that most companies plan for growth over the next three years, with an average targeted growth rate of 14.46%. Acquisitions are part of the corporate strategy for about two-thirds of companies in the next year or two to five years. While many companies considered multiple transactions in the last 24 months, they typically only completed two deals on average. Looking ahead, 67% of acquisitive companies foresee a single transaction in the coming year, mostly valued at under €20 million.
Effect of customer satisfaction on performance of the hotel industryAlexander Decker
This document discusses a study on the effect of customer satisfaction on the performance of the hotel industry in western Kenya. The study aims to assess customer perceptions of hotel services, identify strategies used to enhance satisfaction, and determine if satisfaction strategies have improved performance. The literature review discusses how customer satisfaction is linked to customer expectations and experiences. It also examines the concepts of customer loyalty, length of stay, and retention. The conceptual framework outlines how customer satisfaction can influence hotel industry metrics like profits, sales, market share, and image through moderating factors such as hotel age and size.
Hospitality Report about acquisition between Marriott International and Starw...Jonathan Le
I wrote this report during my senior year in high school (September 6,2018). The aim of the report was to analyze the recent acquisition between Marriott International and Starwood Hotels & Resorts.
The research found that business confidence in Australia is polarized, with more businesses feeling less confident about the year ahead compared to 2011. Nearly 9 in 10 businesses are concerned about their growth prospects due to current economic issues, and over half have deferred some significant business investments and decisions as a result. The top areas where businesses have deferred spending include upgrading plant/machinery, marketing, and developing new business areas. Larger businesses appear less likely to have deferred decisions compared to smaller businesses.
This document analyzes and compares the financial performance of two hotel chains in Oman, AL BATNAH Hotels and GULF hotels, over a four year period from 2015-2018. It includes an introduction to the companies and industry trends. Various financial metrics and ratios are calculated such as gross profit, debt to equity, current ratio, and cash flow. An Altman Z-score analysis finds that AL BATNAH is financially stable while GULF is at risk of bankruptcy. A SWOT analysis is also provided for each company. Overall, the document concludes that while both companies face challenges, GULF is performing relatively better and would be a better investment option.
International Business Report 2013: Looking out not inGrant Thornton
The document summarizes key findings from the International Business Report 2013 regarding the outlook of Irish businesses. It finds that Irish business leaders are more optimistic than in previous years, with 36% optimistic about the economy in 2013 compared to 30% in 2012. However, challenges remain regarding government debt and balancing budgets. Irish businesses are adapting by investing in growth areas like R&D, exports, and talent. While domestic demand remains weak, exports are driving growth as Irish businesses look outward for opportunities rather than focusing solely on Ireland. Accessing credit also remains a challenge that Irish businesses are working to overcome through strong balance sheets and sustainable growth.
Sage CRM - Accelerating your 2012 Marketing ROI through Cloud CRMSageukofficial
Discover how CRM has helped companies like yours to re-imagine how they market their products and services, and dramatically improve campaign return-on-investment as a result
- 90% of executives surveyed think customer experience is very important for their company's strategy in 2010, and 80% want to use it to differentiate from competitors.
- While most companies have some customer experience practices in place, like VoC programs and customer experience leaders, they still face obstacles like a lack of clear strategy and cross-organizational cooperation.
- Companies are taking more action on customer experience compared to last year, but still struggle with satisfying customers, especially online where satisfaction is lowest.
The document discusses challenges with impairment reporting and building stakeholder confidence. It finds that over half of stakeholders surveyed do not believe the economic recovery has begun. There is uncertainty around impairment levels reported given the difficult economic environment. The real estate, banking, automotive and capital markets sectors are most likely to see further impairments. Improving impairment reporting transparency through better communication of assumptions and sensitivity analysis can help build stakeholder confidence.
The document discusses mergers and acquisitions (M&A) in the hospitality industry. It begins with an introduction to the industry and lists some recent M&A deals. It then discusses academic papers on M&A in different parts of the hospitality sector, including lodging, brands, and the overall industry. Finally, it proposes an area for future research on what drives value in hotel brand M&A beyond strategic and operational factors, suggesting analysis of trademark portfolios, potential project pipelines, and management agreement values.
The Sage SME Business Sentiment Index 2011 is a recent project that BrandMatters worked on for Sage Software Australia, a client of ours for over five years. The project involved an extensive qualitative and quantitative research programme and the development and execution of an integrated communications campaign.
For those of you unaware, Sage is a leading, global business management software specialist, with over six million clients across 29 countries. The Sage SME Business Sentiment Index is based on a comprehensive market research study we ran, involving over 600 business owners, decision makers and business experts across all business sizes and industries in Australia. The SME index is a demonstration of the Sage brand promise – Sage lives and breathes SMEs’ businesses.
The SME Index forms part of a sophisticated, integrated Sage campaign which is currently in market, combining traditional media (TV and print) and digital. The campaign has two objectives – to build the Sage brand profile and to generate high-quality sales leads.
The document summarizes key tax measures from Ireland's 2014 budget. For business tax, it highlights that the 12.5% corporate tax rate will be retained and R&D tax credits will be increased. For personal tax, it notes income tax rates remain unchanged while DIRT and pension taxes will increase. It also outlines new relief for home renovations and start-up businesses.
This document provides an overview of key Irish tax rates, credits, and allowances for 2014. Some highlights include:
- The income tax bands for 2014.
- Increases to the Deposit Interest Retention Tax and exit tax rates on life insurance policies to 41%.
- Changes to the Universal Social Charge thresholds and rates, including a new 10% rate for self-employed income over €100,000.
- Details on the new Home Renovation Incentive providing an income tax credit of 13.5% of qualifying renovation expenditures between €5,000 and €30,000.
- An introduction of an exemption from income tax for up to €40,000 per year for 2
More Related Content
Similar to Future Of Hotel Tourism Sector Report 2011 A4 Ls V1a Fl
The document provides an investor presentation for 7 Days Group Holdings Limited from March 2013. It contains the following key points in 3 sentences:
1) 7 Days Group is a major economy hotel chain in China that has experienced rapid growth, opening over 400 new hotels in 2012 alone to reach over 1,300 hotels total.
2) The presentation outlines 7 Days Group's strategy of focusing on managed hotels to drive long-term profitable growth at lower risk and higher margins compared to leased-and-operated hotels.
3) Financial highlights show that 7 Days Group has achieved twelve consecutive profitable quarters since 2010 and increasing economies of scale are supporting ongoing profit and cash flow growth.
Etude PwC sur l'information financière 2012PwC France
The document provides a summary of findings from a survey of 30 European investors and analysts on key financial reporting priorities. Some of the main findings from the survey include:
1) Most investors agree that a period of stability in accounting standards would be welcomed once current projects are completed, however ongoing improvements should still be made.
2) The majority of investors do not view convergence with US GAAP as an absolute priority and believe quality of standards is more important than convergence.
3) Nearly all investors believe non-GAAP measures are important for understanding company performance, but many are concerned about inconsistencies in how they are used and presented. Most also find definitions of items like operating profit in financial statements to be inadequate
In order to provide business leaders and companies with a up-to-the-minute
barometer of their peers’ confidence and outlook for the coming year the Regus
Business Confidence Index Report analysed the opinions of over 16,000 business
managers and business owners from 86 countries. In addition to enquiring about
revenues and profits over the past year, and about their revenue expectations for
the next 12 months, the report also analysed their views on factors that had caused
particular corporate distress during the downturn, stability creating policies for future
growth and cost saving measures that do not hinder company growth.
The document is a survey report from the Robert E. Nolan Company about operational priorities for property and casualty insurance executives. The survey found that maintaining underwriting discipline and profitability is the top priority amid current market volatility. Executives also prioritized carefully managing expenses, improving customer service, pursuing organic growth, and investing in talent. Respondents agreed that focusing on internally controllable factors like risk evaluation, underwriting quality, pricing segmentation, service differentiation, and expense management will be key to success.
Business in the Community Ireland CEO Survey October 2012Amarach Research
A survey of 100 Irish CEOs/Managing Directors from Ireland's top 1,000 companies.
More details - and a handy infographic - available at the Business in the Community Ireland website:
http://www.bitc.ie/2012/10/ceo-survey-shows-responsible-business-practice-positive-impact-botton-line/
The survey found that most companies plan for growth over the next three years, with an average targeted growth rate of 14.46%. Acquisitions are part of the corporate strategy for about two-thirds of companies in the next year or two to five years. While many companies considered multiple transactions in the last 24 months, they typically only completed two deals on average. Looking ahead, 67% of acquisitive companies foresee a single transaction in the coming year, mostly valued at under €20 million.
Effect of customer satisfaction on performance of the hotel industryAlexander Decker
This document discusses a study on the effect of customer satisfaction on the performance of the hotel industry in western Kenya. The study aims to assess customer perceptions of hotel services, identify strategies used to enhance satisfaction, and determine if satisfaction strategies have improved performance. The literature review discusses how customer satisfaction is linked to customer expectations and experiences. It also examines the concepts of customer loyalty, length of stay, and retention. The conceptual framework outlines how customer satisfaction can influence hotel industry metrics like profits, sales, market share, and image through moderating factors such as hotel age and size.
Hospitality Report about acquisition between Marriott International and Starw...Jonathan Le
I wrote this report during my senior year in high school (September 6,2018). The aim of the report was to analyze the recent acquisition between Marriott International and Starwood Hotels & Resorts.
The research found that business confidence in Australia is polarized, with more businesses feeling less confident about the year ahead compared to 2011. Nearly 9 in 10 businesses are concerned about their growth prospects due to current economic issues, and over half have deferred some significant business investments and decisions as a result. The top areas where businesses have deferred spending include upgrading plant/machinery, marketing, and developing new business areas. Larger businesses appear less likely to have deferred decisions compared to smaller businesses.
This document analyzes and compares the financial performance of two hotel chains in Oman, AL BATNAH Hotels and GULF hotels, over a four year period from 2015-2018. It includes an introduction to the companies and industry trends. Various financial metrics and ratios are calculated such as gross profit, debt to equity, current ratio, and cash flow. An Altman Z-score analysis finds that AL BATNAH is financially stable while GULF is at risk of bankruptcy. A SWOT analysis is also provided for each company. Overall, the document concludes that while both companies face challenges, GULF is performing relatively better and would be a better investment option.
International Business Report 2013: Looking out not inGrant Thornton
The document summarizes key findings from the International Business Report 2013 regarding the outlook of Irish businesses. It finds that Irish business leaders are more optimistic than in previous years, with 36% optimistic about the economy in 2013 compared to 30% in 2012. However, challenges remain regarding government debt and balancing budgets. Irish businesses are adapting by investing in growth areas like R&D, exports, and talent. While domestic demand remains weak, exports are driving growth as Irish businesses look outward for opportunities rather than focusing solely on Ireland. Accessing credit also remains a challenge that Irish businesses are working to overcome through strong balance sheets and sustainable growth.
Sage CRM - Accelerating your 2012 Marketing ROI through Cloud CRMSageukofficial
Discover how CRM has helped companies like yours to re-imagine how they market their products and services, and dramatically improve campaign return-on-investment as a result
- 90% of executives surveyed think customer experience is very important for their company's strategy in 2010, and 80% want to use it to differentiate from competitors.
- While most companies have some customer experience practices in place, like VoC programs and customer experience leaders, they still face obstacles like a lack of clear strategy and cross-organizational cooperation.
- Companies are taking more action on customer experience compared to last year, but still struggle with satisfying customers, especially online where satisfaction is lowest.
The document discusses challenges with impairment reporting and building stakeholder confidence. It finds that over half of stakeholders surveyed do not believe the economic recovery has begun. There is uncertainty around impairment levels reported given the difficult economic environment. The real estate, banking, automotive and capital markets sectors are most likely to see further impairments. Improving impairment reporting transparency through better communication of assumptions and sensitivity analysis can help build stakeholder confidence.
The document discusses mergers and acquisitions (M&A) in the hospitality industry. It begins with an introduction to the industry and lists some recent M&A deals. It then discusses academic papers on M&A in different parts of the hospitality sector, including lodging, brands, and the overall industry. Finally, it proposes an area for future research on what drives value in hotel brand M&A beyond strategic and operational factors, suggesting analysis of trademark portfolios, potential project pipelines, and management agreement values.
The Sage SME Business Sentiment Index 2011 is a recent project that BrandMatters worked on for Sage Software Australia, a client of ours for over five years. The project involved an extensive qualitative and quantitative research programme and the development and execution of an integrated communications campaign.
For those of you unaware, Sage is a leading, global business management software specialist, with over six million clients across 29 countries. The Sage SME Business Sentiment Index is based on a comprehensive market research study we ran, involving over 600 business owners, decision makers and business experts across all business sizes and industries in Australia. The SME index is a demonstration of the Sage brand promise – Sage lives and breathes SMEs’ businesses.
The SME Index forms part of a sophisticated, integrated Sage campaign which is currently in market, combining traditional media (TV and print) and digital. The campaign has two objectives – to build the Sage brand profile and to generate high-quality sales leads.
Similar to Future Of Hotel Tourism Sector Report 2011 A4 Ls V1a Fl (20)
The document summarizes key tax measures from Ireland's 2014 budget. For business tax, it highlights that the 12.5% corporate tax rate will be retained and R&D tax credits will be increased. For personal tax, it notes income tax rates remain unchanged while DIRT and pension taxes will increase. It also outlines new relief for home renovations and start-up businesses.
This document provides an overview of key Irish tax rates, credits, and allowances for 2014. Some highlights include:
- The income tax bands for 2014.
- Increases to the Deposit Interest Retention Tax and exit tax rates on life insurance policies to 41%.
- Changes to the Universal Social Charge thresholds and rates, including a new 10% rate for self-employed income over €100,000.
- Details on the new Home Renovation Incentive providing an income tax credit of 13.5% of qualifying renovation expenditures between €5,000 and €30,000.
- An introduction of an exemption from income tax for up to €40,000 per year for 2
The document provides an overview of the BDO graduate training program. It discusses:
- BDO's global network and the benefits of being part of a large international firm.
- The five key elements of the training program: early client interaction, cross-industry experience, learning from senior managers, an enjoyable work atmosphere, and support for professional qualifications.
- The options to choose between the audit, tax, or advisory departments which would provide exposure to clients in different industries.
- The career path from trainee to partner and opportunities for responsibility, specialization, client management, and business development.
BDO IRELAND Agri Food Opportunities And Insights.2012kmrceltic
The banks remain an important source of funding for the agri-food sector, but diversifying funding sources is seen as more sustainable. Funding is available from government agencies, banks, and investors who are favorably disposed to financing the growing sector. While challenges obtaining funds remain, particularly for SMEs, being aware of available options and presenting a credible business case is important. Grants through Enterprise Ireland provide financial support and incentives tailored to different growth stages.
Future Of Hotel Tourism Sector Report 2011 A4 Ls V1a Flkmrceltic
The document summarizes the results of a survey of 100 Irish hoteliers regarding their performance in the first quarter of 2011 and their outlook for the rest of the year. Key findings include:
- 87% of hoteliers were confident or very confident that performance would improve in 2011.
- 75% expected occupancy to increase while 56% expected average room rates to rise.
- However, 43% reported decreased revenues for Q1 2011 compared to the previous year.
- Price competition was seen as the main threat to performance.
- Over half planned to increase sales and marketing to boost business.
The document discusses funding and growth opportunities for technology companies in Ireland. It includes results from the BDO Technology Survey 2011 which found that technology sector confidence in growth is high. It also notes risks to revenue such as cost of capital and competitive pressures. The document states that Irish businesses are focused on geographical expansion, primarily to the UK and Western Europe as new markets. It concludes by emphasizing that technology remains an important sector for jobs and investment in Ireland despite perceptions that funding is decreasing, as EU investment in technology is actually rising.
Discover the chic spots and hidden gems that made Sex and the City iconic with our Sex in the City Tour. From trendy cafes to luxurious boutiques, follow in the footsteps of your favorite characters and explore the city that never sleeps in true SATC style.
Beyond the mountains, a tour in Nepal reveals a vibrant tapestry of cultural heritage. The Kathmandu Valley, a UNESCO World Heritage Site, boasts an array of ancient temples, stupas, and palaces. Durbar Squares in Kathmandu, Bhaktapur, and Patan are treasure troves of medieval art and architecture.
How To Change Your Name On American Airlines Aadvantage.pptxedqour001namechange
American Airlines permits passengers to change/correct names on their AAdvantage account. Also, you can request a name change both online via a web portal and offline over the phone. For further information on how to change your name on American Airlines Advantage, get in touch with the airline’s customer service. Also, you can reach out to a consolidation desk at +1-866-738-0741 for quick assistance.
How do I plan a Kilimanjaro Climb?
Planning to climb Mount Kilimanjaro is an exciting yet detailed process. Here’s a step-by-step guide to help you prepare for this incredible adventure.
You can easily change/correct a name on your flight ticket under the American Airlines name change policy. The airline provides multiple online and offline modes to place a name change request. To learn more about how to change a name on American Airlines ticket, you can directly approach the airline’s customer support. Moreover, you can connect with a flight expert at +1-866-738-0741 for quick assistance.
Prepare for cold weather rafting with proper gear: layering for warmth, insulated headgear, gloves, waterproof footwear, and essential accessories like sunglasses and sunscreen. Prioritize safety with a life jacket and maintain gear for optimal performance. Stay warm, dry, and ready for adventure on the rapids!
What Outdoor Adventures Await Young Adults in Montreal's Surrounding NatureSpade & Palacio Tours
Experience Montreal's vibrant culture and thrilling outdoor adventures. From hiking scenic trails at Mont-Saint-Bruno to kayaking the Saint Lawrence River, there's something for every adventurous young adult. Explore street art, camp under the stars, and immerse yourself in nature's beauty just beyond the city's bustling streets.
The Ultimate Travel Guide to Hawaii Island Hopping in 2024adventuressabifn
island hopping in Hawaii. This magical place offers a number of experiences, as each island has its own charm. Do you love adventure? Then, hike through volcanoes or kayak along an amazing coastline. If you want relaxation, then Hawaii is perfect because it has the most amazing beaches. In this blog, I will help you make an itinerary for your Hawaii Island Hopping. Every island offers something special. The Big Island offers some of the most perfect volcanoes as well as stargazing. Maui will pamper you with beaches and luxury. Kauai has some of the most lush rainforests with dramatic cliffs, and Oahu can offer a taste of city life and historical significance.
Sicily's Coastal Charms: Discovering the Top 5 Beaches on the IslandTime for Sicily
Nestled in the azure embrace of the Mediterranean, Sicily boasts a coastline dotted with breathtaking beaches. From secluded coves to lively shores, each offers a unique slice of paradise. Among the island's gems, Mondello Beach entices with its golden sands and crystal-clear waters, while San Vito Lo Capo enchants visitors with its powdery shores framed by rugged cliffs. For a taste of history and natural beauty, Scala dei Turchi beckons with its striking white cliffs, while Isola Bella captivates with its picturesque islet setting. Sicily's coastal charms await exploration, promising unforgettable seaside adventures. For more information, visit the website https://timeforsicily.com/the-top-5-beaches-in-sicily-for-this-summer/
The Inca Trail to Machu Picchu is an unforgettable adventure, blending stunning natural beauty with rich history. Over four days, trekkers traverse diverse landscapes, from lush cloud forests to high mountain passes, encountering ancient Inca ruins along the way. Each step brings you closer to the awe-inspiring sight of Machu Picchu, revealed at sunrise from the Sun Gate. The journey is challenging but incredibly rewarding, offering a profound sense of accomplishment. With its combination of breathtaking scenery and cultural significance, the Inca Trail to Machu Picchu is a must-do for those seeking an extraordinary adventure in Peru.
Experience the magic of bioluminescence at Puerto Rico's Bioluminescent Bay with our guide to optimal viewing. Plan your visit during the new moon phase for vibrant displays, and consider dry season from December to April. Book a guided tour, choose calm nights, and respect the environment for an unforgettable adventure.
Golden Gate Bridge: Magnificent Architecture in San Francisco | CIO Women Mag...CIOWomenMagazine
The famous suspension bridge connects the city of San Francisco to Marin County in California. Golden Gate Bridge carries both U.S. Route 101 and California State Route 1 across the strait and is about one mile wide. In this article, we will explore the history and significance that have shaped the iconic monument it is known as today.
Explore Architectural Wonders and Vibrant Culture With Naples ToursNaples Tours
Discover the historical gems and vivid culture of Naples with our guided tours. From the vivid narrow streets of Spaccanapoli to the ancient ruins of Pompeii, the city offers a mixed bag of adventurous experiences. Book your tickets today https://www.naples.tours/ and experience the best of Naples!
Scuba diving in Andaman to explore vibrant marine lifeSeahawks Scuba
Try scuba diving to witness Andaman's diverse marine life, including Reef Fish, Manta Rays, Dolphins, Sea Turtles, Starfish, and various colourful coral reefs. The topography of the Andaman Islands and its pleasant warm waters allow countless marine species to evolve and grow. Book a dive with us to discover Andaman's most underrated sea life.
bangalore metro routes, stations, timingsnarinav14
Bangalore Metro, also known as Namma Metro, is a rapid transit system serving the city of Bangalore, Karnataka, India. It is the second longest operational metro network in India after the Delhi Metro.
Our excursions in tahiti offer stunning lagoon tours, vibrant marine life encounters, and cultural experiences. We ensure unforgettable adventures amidst breathtaking landscapes and serene waters. For more information, mail us at tracey@uniquetahiti.com.
2. 2 2011: The Outlook for the Irish Hotel Sector
conTenTs
– Research methodology 3
– Foreword 4
1 Growth expectations 6
2 Recent historic performance 8
3 Factors impacting on performance 12
4 Improving performance 13
5 Market awareness 14
3. 2011: The Outlook for the Irish Hotel Sector 3
reseArch MeThoDoloGY
n At the end of the first quarter of 2011, 100 interviews were carried out with n The breakdown of hotels by grade is demonstrated as follows:
hoteliers throughout Ireland. The objective of the research was to gain an Five star 14%
understanding of their financial performance in the first quarter of 2011,
compared to the corresponding period in 2010. The research also aimed Four star 31%
to gain some insights into hoteliers’ expectations of performance for the Three star 40%
remainder of 2011 and the challenges currently facing the sector.
Two star 13%
n The findings presented in this report are based on a sample population of One star 2%
100 hotels across the island of Ireland. The sample was subdivided by grade
and province and included a 79:21 split between the Republic of Ireland and
Northern Ireland. n Both BDO clients and non-clients were approached to take part in the
research. The survey was managed by BDO with the fieldwork conducted
by Marketing Advisors from the UCD Smurfit Marketing Development
n The location of hotels included in the research was distributed as follows:
Programme.
Connaught 28%
Leinster 27%
Munster 24%
Northern Ireland 21%
For the purpose of the research, Donegal, Cavan and Monaghan hotels were
included in the Connaught sample.
4. 4 2011: The Outlook for the Irish Hotel Sector
foreworD
followinG A DecADe of unpreceDenTeD GrowTh AnD expAnsion, The irish hoTel secTor cAMe To A sTuTTerinG hAlT in
2008. since Then, The secTor hAs reTrencheD, wiTh hoTel owners AnD MAnAGers GrApplinG wiTh The AssociATeD effecTs
of A GlobAl econoMic DownTurn, increAseD coMpeTiTion, fAllinG DeMAnD AnD low levels of consuMer confiDence.
respondents, for an overall increase in average room rates and occupancy
Derry Gray
levels for the remainder of the year augurs well for the hotel sector as a
Managing Partner and Head of Consulting
whole.
dgray@bdo.ie
+ 353 1 470 0350 Importantly, the majority of hoteliers surveyed are confident that they
are in a stronger position to move their business forward having taken the
time to identify and address the key forces impacting on their business.
Interestingly, a significant number of respondents (32%) indicated that
With economic conditions remaining challenging, it is encouraging to see they actively engage professional advisers with the aim of improving hotel
that, in this survey of 100 hoteliers carried out by BDO, a real sense of performance. Price competition has been identified, by respondents, as the
optimism is now emerging with 87% of hotels indicating that they were main factor likely to impact on hotel performance during 2011.
either confident or very confident that their hotel’s performance would
improve during 2011. Hoteliers did not highlight over supply as a significant factor impacting
on or likely to impact on performance during 2011. With government
This is not to suggest that an immediate return to historic strong levels agencies/bodies acknowledging that it is unlikely that there will be any
of performance is on the horizon, with 43% of respondents stating State intervention to address the issue of “over supply”, hoteliers appear
that revenues earned in the first quarter of 2011 were less than that of to be taking charge of their own destiny with the majority of operators
the same period in 2010. However, clear evidence of increasing levels stating that they plan to increase their sales and marketing efforts as a
of demand, combined with a shared optimism amongst a number of means of improving hotel performance.
5. 2011: The Outlook for the Irish Hotel Sector 5
It is our view that the outlook for the sector for 2011 and into early 2012 May I extend my thanks to those who gave their time to participate in
will continue to prove challenging. There is strong evidence to suggest that this survey.
a large percentage of business is “last minute” meaning that businesses
that are equipped to anticipate and respond to shorter booking patterns I hope you find this survey useful and welcome your feedback.
will be best positioned to exploit current market opportunities.
If you would like to contribute to future surveys, please let us know.
With rising costs and cashflow pressures also identified as key factors
likely to impact on individual hotel performance, careful management and
monitoring of these and the overall financial affairs of the business will be
key to on-going viability.
We would share the view of other industry stakeholders, that the recent
visits of Her Majesty Queen Elizabeth II and US President Barack Obama
will provide a much needed boost for Irish tourism and in doing so play a
vital role in Ireland achieving it's targeted growth of 4% in visitor numbers
set for 2011.
6. 6 2011: The Outlook for the Irish Hotel Sector
GrowTh A siGnificAnT MAjoriTY of hoTeliers Are eiTher confiDenT or
expecTATions
verY confiDenT AbouT The prospecTs for iMproveD business
perforMAnce DurinG 2011.
we AskeD How confident are you for an improvement in your business during 2011? (Base: 100)
Very confident 44%
Confident 43%
87%
Not confident 13%
1
of hoteliers are either confident or very confident
that their hotel performance will improve during 2011
iMproveMenT will be DeMAnD Driven.
we AskeD Do you expect average room occupancy to increase, decrease or stay the same in
2011? (Base: 100)
Increase 75%
Stay the same 19%
75%
Decrease 6%
DeMAnD Driven: 75% of respondents expect
average room occupancy to increase during 2011
7. 2011: The Outlook for the Irish Hotel Sector 7
hoTeliers Are Also opTiMisTic AbouT increAsinG AverAGe rooM rATes DurinG 2011.
we AskeD Do you expect average room rates to increase, decrease or stay the same? (Base: 100)
Increase 56%
Stay the same 36%
56%
Decrease 8%
of hoteliers expect average room rates to increase, with only 8%
of respondents expecting average room rates to decrease in 2011
overAll expecTATions of hoTel perforMAnce.
we AskeD How do you expect overall performance to be in 2011 relative to 2010? (Base: 100)
Better 55%
In line 29%
Worse 16%
55%
More than half of hoteliers expect that overall performance
for 2011 will be better than 2010
8. 8 2011: The Outlook for the Irish Hotel Sector
recenT hisToric AverAGe rooM rATes.
perforMAnce The average room rate for hotels in the Republic of Ireland for the first quarter of
2011 was reported as falling within the range of €70 to €79, with approximately
19% of respondents offering this range as being indicative of their own hotel’s
performance.
48% of hotels indicated that their average room rate was below €70, with
approximately 33% of respondents indicating that their average room rate was
in excess of €80.
Approximately 12% of respondents indicated that their average room rate was in
2
excess of €150.
€30–€39 6%
€40–€49 10%
€50–€59 16%
€60–€69 16%
€70–€79 19%
€80–€89 5%
€90–€99 4%
€100–€119 3%
€120–€129 4%
€130–€149 5%
€150–€400 12%
9. 2011: The Outlook for the Irish Hotel Sector 9
£40-£69
The average room rates for hotels in Northern Ireland are summarised in the following table:
£40–£59 20%
£60–£69 20%
£70–£79 15%
£80–£89 20%
40% of hotels in northern ireland reported an average
rate of between £40 and £69 per night
£90–£119 15%
£120–£169 10% when converted to euro, these rates are on a par with
rates in the republic of ireland where almost 50% of
rooms are priced between €45 to €79
18%
we AskeD How do average room rates for the first quarter of 2011 compare to the corresponding period in 2010? (Base: 100)
Unchanged rates 39%
Increased rates 18%
Reduced rates 43%
of hoteliers indicated that average rates
for the first quarter of 2011 to be up on
the corresponding period in 2010
10. 10 2011: The Outlook for the Irish Hotel Sector
70%–80%
AverAGe rooM occupAncY for quArTer one 2011.
30% 2%
35% 3%
40% 9%
45% 6%
There were notable variations in average room occupancy for the first
three months of 2011. Approximately one third of hotels indicated an
50% 16%
average occupancy of between 70% to 80%. conversely one in five
55% 10% respondents reported average occupancy of less than 45%
60% 14%
65% 10%
70% 24%
80% 5%
90% 1%
36%
hoTel rooM occupAncY in coMpArison To quArTer one 2010.
Higher occupancy 36%
Same occupancy 29%
Lower occupancy 35%
of hoteliers stated that occupancy levels had increased
in comparison to those levels experienced in 2010
This would be consistent with wider tourism sector trends that
indicate that the number of overseas visitors to ireland increased
by 8.6% in the first three months of 2011, compared with the
same period in 2010
11. 2011: The Outlook for the Irish Hotel Sector 11
ToTAl revenue quArTer one 2011 in coMpArison To quArTer one 2010.
Increase in revenue
Unchanged revenue
Decreased revenue
28%
29%
43%
>40%
of hotels stated that revenue earned in the first quarter of 2011 was
less than revenue earned in the same period in 2010. Despite increases in
occupancy in the period, it is clear that downward pressure on room rates
continues to affect turnover and, one would assume profitability
while previous sections have demonstrated a general air of confidence
for the remainder of 2011, it could be argued that this optimism is based
more on expectations of performance rather than actual performance
for the first quarter of 2011
12. 12 2011: The Outlook for the Irish Hotel Sector
fAcTors iMpAcTinG The followinG TAble illusTrATes The MAin fAcTors
on perforMAnce
currenTlY iMpAcTinG on hoTel perforMAnce.
Price Competition 42% 57%
Consumer Confidence 29% 38%
Falling Demand 22% 38%
Over Supply 10% 39%
Rising Costs 6% 47%
Currency Fluctuations 21%
Cashflow 36%
3
Other* 39%
* Weather; Events; American tourists; Increased wedding business;
Government regulations; Less corporate. Un-prompted Prompted
Price competition remains the greatest threat for the majority of respondents.
It was noted that the adverse weather during December and January, combined
with the Icelandic ash cloud in 2010 had a serious negative impact on business.
Despite the issue of excess hotel capacity receiving much attention and
consideration, only 10% of hoteliers indicated it as an issue when asked (un-
prompted) to identify the factors impacting on current performance. When
prompted however, 32% of respondents cited it as an issue. A similar trend in
responses was noted in respect of the issue of rising costs.
While this research was conducted prior to the arrivals of Her Majesty Queen
Elizabeth II and US President Barack Obama a large majority of respondents
highlighted the extent to which events play a positive role in attracting business
and influencing occupancy levels. It will be interesting to see over the coming
months the impact of both these events on hotel performance.
13. 2011: The Outlook for the Irish Hotel Sector 13
iMprovinG hoTeliers TAkinG chArGe of Their own DesTinY.
perforMAnce Increase sales and marketing effort
Discount rates/prices 35% 48%
51% 55%
Reducing operating costs 22% 47%
Engage professional advisors 8% 32%
Scale back operations 12% 26%
Other 11% 36%
Un-prompted Prompted
4
When asked, both un-prompted and prompted, over 50% of hoteliers indicated
that they plan to increase their sales and marketing effort as a means of improving
hotel performance.
A significant number of respondents also indicated that they intend to discount
prices/reduce rates as a means of generating business. This would further raise
concerns regarding the extent to which average room rates are likely to increase
during 2011.
Interestingly, 32% of respondents, when prompted, indicated that they now use
professional advisors as a means of helping address some of the issues facing their
business.
Increased staff training and improved customer care were identified under "Other"
as other popular means of improving performance.
Based on prompted and unprompted responses, evidence would suggest that
most hoteliers do not believe that scaling back operations is an appropriate
response to the issues currently facing their business.
14. 14 2011: The Outlook for the Irish Hotel Sector
MArkeT The followiinG TAble iDenTifies how AwAre hoTeliers Are
AwAreness
AbouT The keY fAcTors ThAT cAn iMpAcT on Their business.
Hotel can meet its targets for revenue
and profit this year 67% 23% 10%
Key micro and macro economic factors 71% 18% 11%
Relationship with the bank is positive 71% 25%
Aware of the range of business supports and
assistance that are available in the hotel sector 85% 13% 2%
Finance team can support the company's growth 87% 6% 7%
6%7%
Can easily access key financial information
87% 7% 6%
5
that you need to run your business
Hotel is well prepared to respond to
fluctuations in the market 93% 6%
Agree Disagree Neither
A significant percentage of respondents (93%) believe that their hotel is well
prepared to respond to fluctuations in the market. At the same time, they were
less confident about their ability to meet targets for revenue and profit in the year.
Reasonably high levels of respondents indicated that they can access the key
financial information and have the right finance team in place to support and run
their business. However there is still some room for improvement.
High numbers of respondents indicated that they are aware of the range of
business supports and assistance available to the hotel sector, with current Failte
Ireland initiatives coming in for particular mention and positive comment.
Finally 71% of respondents felt that their relationship with their bank is positive,
with only 4% disagreeing with the statement, although this question did receive
the largest number of “neither agree or disagree” responses.
15. 2011: The Outlook for the Irish Hotel Sector 15
noTes
hospiTAliTY TeAM
With over 20 years experience and a client base of over 10% of Ireland’s
total hotel accommodation supply, BDO are leading advisers to the hotel
sector in Ireland. Combining extensive strategic planning, specialist hotel
operations, corporate finance & recovery and taxation expertise, BDO have
significant expertise in assisting and guiding hotels owners, financiers and
other stakeholders to:
– Plan a strategy for hotels in troubled times
– Review operational and financial performance
– Effectively manage weak and underperforming hotel assets
– Critically appraise an investment
– Secure third party funding, and
– Negotiate with operations partners.
Dealing with us is different. Our approach is pragmatic and hands-on which
ensures timely, straightforward advice. Our assignments are led by senior
personnel with an in-depth understanding and knowledge of the hotel
market. This delivers high value for all our clients and practical solutions that
are based on unrivalled sectoral experience and expertise.
For more information please contact:
Derry Gray, Managing Partner and Head of Consulting,
on 01 4700 350, or dgray@bdo.ie