The annual Canada Hotels & Chains Report examines the country's hospitality industry, highlighting its growth despite challenges such as inflation and interest rates.
Forward-looking data suggests stable growth in UK hotel top-line performance will build on a 15% rise in RevPAR in 2023, helping to offset rising operating costs.
The Irish hotel sector continues to recover post COVID-19 with a combination of pent-up demand and a reduction in available rooms within the market. While average room rates are considerably higher than in 2019, uncertainty remains around cost inputs due to inflation and legislative changes including the increase in the minimum wage to 12.70 in 2024.
Year-to-date September 2023, all key markets but Sunshine Coast and Canberra have continued to record RevPAR growth compared to the same period in 2022, ranging from a low of 1.3% in Hobart to a high of 38.0% in Sydney.
Horwath HTL’s latest trend study – in collaboration with the Heilbronn University of Applied Science – focuses on current trend drivers shaping the tourism sector, including the digitalisation of services, the personalisation of travel experiences and the rise of sustainable tourism.
Over the last year, a remarkable post pandemic resurgence is evident. Robust demand has propelled most markets to exceed pre-pandemic levels, allowing for unprecedented rate increases that have pleasantly surprised property owners.
With consumer confidence already on track, it has been easier for the hotel market to improve its performance. These factors have been key to keeping the hotel supply stable, as well as increasing the presence of new chains and brands. It has also favoured the emergence of new players in the market that are committed to alternative models that generate profitability and help new brands to expand their presence in Spain.
This report by Horwath HTL Australia provides an outlook for ten key city markets across Australia, assessing performance to June 2023 and the outlook for future growth.
This comprehensive report offers a detailed analysis of the Polish hotel market and provides valuable insights into the evolving trends shaping the country’s tourism industry.
Performance is back, but can hospitality keep it up?