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HRG Hotel Survey January 2013

HRG Hotel Survey January 2013

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Published by skiftnews
Hotel room rates in Latin America soared in 2012 as capacity failed to keep pace with demand from international business travellers looking to cash in on rapidly emerging economies across the region.
Hotel room rates in Latin America soared in 2012 as capacity failed to keep pace with demand from international business travellers looking to cash in on rapidly emerging economies across the region.

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Categories:Types, Research
Published by: skiftnews on Feb 05, 2013
Copyright:Attribution Non-commercial


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 31 January 2013
Global room rates show year on year rise, but weak exchangerates disguise price hikes in Latin America
Hotel room rates in Latin America soared in 2012 as capacity failed to keep pace with demand frominternational business travellers looking to cash in on rapidly emerging economies across the region. The latestannual hotel survey from award-winning international corporate services company 
 found weak exchange rates continue to shield the majority of international business travellers fromrapidly rising hotel rates in cities like Rio De Janeiro and Buenos Aires.Across the globe, overall rates increased by 1.4%, compared to 1% the previous year. 32 of 55 cities with tophotel rates showed a year on year increase in local currency rate in 2012, compared with just 23 of 55 cities in2011.Key trends include:
 For the ninth consecutive year, Moscow hotels remain the most expensive in the world for businesstravellers. The city’s hotel rates increased by 4% over 2012 and remain significantly higher than all othercities.
 Rates in global financial centres, including London, New York, Hong Kong and Singapore increased overthe last year as confidence in the financial sector gradually showed signs of improving. Tokyo continued torebound as reconstruction and recovery efforts drew more corporate activity.
 Brazil’s major metropolitan cities, Rio de Janeiro and Sao Paulo, showed the highest room rate increases,at 19% and 15% respectively in local currency. Latin America is showing strong growth in business travel,and of the top five cities with the highest rate increases, three were from the region. However, the riseswere largely cancelled out when viewed in GBP.
 Indian cities Bangalore, Mumbai and New Delhi have all been impacted by the economic slowdown inIndia. Hyderabad was the exception, with a modest growth during the first half year mainly due toincreased demand driven by the IT industry.
 Having seen significant declines in average room rates during 2010 and 2011, rates in Dubai rose 2% andare beginning to return to levels not seen since before the Arab Spring. Elsewhere in the Middle East,cities are experiencing lower rates as business travellers react to ongoing security concerns.
 New hotel openings in Lagos have somewhat eased pressure on capacity, but average rates remain someof the highest in the world. Security remains a major concern for business travellers in Africa, especially inLagos where most corporate visitors use five-star hotels.
 Europe is showing uneven, patchy room rate variances quarter to quarter. Many cities, such as Barcelonaand Athens, recorded high volatility and unpredictable patterns. Cities in Germany fared better, withFrankfurt and Berlin both reporting higher demand leading to increased room rates.
 The US as a whole recorded increased room rates as key cities such as San Francisco and Atlanta hostedstrong convention business. The one exception was Washington, D.C., where rates dropped by 14% ascorporate demand softened.
A Hogg Robinson Group company
Hogg Robinson Group
 Hotel rates grew significantly in several cities across the UK, including in Belfast where average room ratesgrew 8% and in London, Aberdeen and Liverpool, where average room rates grew by 5%. The Londonhotel market demonstrated resilience in the face of global economic turmoil, aided by the Olympics andJubilee demand. Outside of the Capital, demand in more dependent on the domestic economy.
The HRG View: Stewart Harvey, Group Commercial Director 
HRG’s Hotel Survey shows that regional trends are becoming less relevant as individual cities become bigger players in an ever-shrinking world. Though the overall pattern seems to be one of rising average room rates,it’s interesting to see just how varied the picture is within regions, and even within different countries.For several years now, we’ve seen corporates becoming increasingly cost aware and have implemented greater control over travel options. This focus on prudency is expected to continue. At HRG we work with our clients to help them understand how and when they are booking accommodation in order to overcome challenges such as availability and access to the best price.
A Hogg Robinson Group company
Hogg Robinson Group
Top 55 cities by hotel rate in GBP 
CityGBP ARR2012GBP ARR2011GBPARRVAR Local ARR 2012 Local ARR 2011LocalARRVARMOSCOW£261.38 £260.23 1% RUR 12,831.37 RUR 12,231.75 5%LAGOS£227.82 £229.72 -1% NGN 56,869.21 NGN 56,823.21 0%NEW YORK CITY£220.58 £212.98 4% USD 349.55 USD 341.59 2%HONG KONG£211.35 £207.10 2% HKD 2,598.02 HKD 2,585.46 1%ZURICH£207.47 £218.59 -5% CHF 308.24 CHF 310.67 -1%GENEVA£206.24 £221.73 -7% CHF 306.41 CHF 315.12 -3%RIO DE JANEIRO£201.32 £194.71 3% BRL 622.51 BRL 520.98 19%PARIS£196.66 £209.46 -6% EUR 242.45 EUR 241.34 1%SYDNEY£194.96 £192.54 1% AUD 298.36 AUD 299.01 0%STOCKHOLM£193.96 £202.32 -4% SEK 2,080.52 SEK 2,103.74 -1%SAN FRANCISCO£190.82 £171.45 11% USD 302.39 USD 274.98 10%TOKYO£187.08 £166.54 12% JPY 23,660.15 JPY 21,293.71 11%OSLO£181.37 £188.31 -4% NOK 1,671.22 NOK 1,690.63 -1%WASHINGTON£176.11 £201.45 -13% USD 279.08 USD 323.10 -14%SINGAPORE£170.50 £163.54 4% SGD 337.50 SGD 329.50 2%FRANKFURT£165.60 £170.86 -3% EUR 204.15 EUR 196.87 4%LONDON£164.30 £157.07 5% GBP 164.30 GBP 157.07 5%COPENHAGEN£164.06 £166.99 -2% DKK 1,505.39 DKK 1,433.44 5%ISTANBUL£162.50 £190.74 -15% TRL 463.36 TRL 512.72 -10%SAO PAULO£160.55 £160.19 0% BRL 496.44 BRL 428.62 16%AMSTERDAM£159.43 £172.69 -8% EUR 196.54 EUR 198.97 -1%ROME£158.25 £164.03 -4% EUR 195.09 EUR 189.00 3%BASEL£158.13 £163.74 -3% CHF 234.93 CHF 232.71 1%SEOUL£156.53 £144.13 9% KRW 278,518.72 KRW 255,487.34 9%MUNICH£154.86 £164.60 -6% EUR 190.91 EUR 189.65 1%DUBAI£154.18 £149.51 3% AED 897.26 AED 880.62 2%MILAN£152.04 £169.61 -10% EUR 187.44 EUR 195.43 -4%ABU DHABI£147.62 £164.14 -10% AED 859.08 AED 966.77 -11%BRUSSELS£146.29 £154.85 -6% EUR 180.35 EUR 178.42 1%NAIROBI£142.17 £135.31 5% KES 18,746.04 KES 18,966.90 -1%DUSSELDORF£136.07 £138.60 -2% EUR 167.75 EUR 159.70 5%NEW DELHI£135.72 £168.10 -19% INR 11,498.20 INR 12,619.65 -9%MUMBAI£135.55 £155.52 -13% INR 11,483.67 INR 11,674.94

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