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Hogg Robinson Updates 2008 Global Hotel Survey

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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 February 2009.

- 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."

See other recent news regarding: Airlines, Aviation, Flights, First Class, Business Class, Hotels, Promotions, New Hotels, Visitor Arrivals, Cruises, Free Deals, Hogg Robinson, Survey, Research, Corporate, MasterIndex

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