International corporate travel services company Hogg
Robinson Group (HRG) has published an update to its 2008 Hotel Survey
which was published in January.
The data which covers the first nine weeks of
2009 further illustrates what an unusual trading period the hotel
market is currently facing.
The key trends from the update are:
- Moscow was the only key global focus city to
record an average rate in February with an increase of 3%
- Dublin and Zurich recorded the highest rate
decrease of -21%
- At a 19% increase, Abu Dhabi takes number one
position as the city with the highest average room rate,
continuing its upward trend seen throughout 2008
- All key UK focus cities have recorded falling
average rates for the update period
- Among all key focus cities both in the UK and
globally, rates fell faster in February demonstrating the
deepening effects of the current downturn
- The exchange rate effect sees UK corporates
still faced with increasing hotel rates in eight of the twelve
global focus cities surveyed
Key Asian highlights include:
- Amongst the key global cities surveyed, Hong
Kong's average room rates continued its sharp decline to -2% in
January 2009 and 16% in February 2009. The country's average room
rates fell by 9% month-on-month.
- 5 Asian cities (New Delhi, Hong Kong, Mumbai
and Bangalore and Tokyo) were listed among the top 12 global
cities with the highest average room rates from January to
- Mumbai, despite having one of the highest
average room rates, recorded a 26% drop from last year.
- Bangalore registered a 1% increase, and is the
only Asian city that upped their average room rate.
- At 38% year-on-year, Tokyo, Beijing and Kuala
Lumpur are listed amongst the global top 10 cities with the
highest average room rate increase.
Margaret Bowler, Director Global Hotel Relations
at HRG said, "We are in a year of change; this year is not about
having a rate for 12 months, as this data set clearly
demonstrates. The global hotel industry continues to find itself
in uncertain times with average rates falling and occupancy
declining. Corporate clients need to continually review and
consolidate the number of suppliers they work with."
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