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The GBR Consulting Barometer is a regular suvey to obtain insights into the Greek hotel industry's opinions current issues as well as expectations about Occupancy (OCC) and Average Room Rate (ARR).
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Tourism BarometerSnapshot Q4 2013Expectations of the
Greek Hospitality Sector
October 2013
Barometer Snapshot Q4 2013• Hoteliers retain their optimism until the end of 2013. For Q4 in excess of 61%
forecasts increases of at least 2% with respect to occupancy, while only 12%forecasts a drop of at least 2%. The picture for room rates is similar, althoughsomewhat more cautious (47% and 16%).
• Resort hoteliers maintain the bullish attitude they showed throughout the year.All barometers are deeply green coloured, indicating that they expect significantincreases in both occupancy levels and room rates for Q4 compared to samequarter last year.
• City hoteliers are equally optimistic for their occupancy levels, while theyforecast for Q4 similar ARR levels as the same quarter last year, both for theirown hotels as well as for the market in general.
• A comparison of results between the various hotel categories shows that 5*hoteliers are very optimistic: no-one expects a decrease of 2% or more in theiroccupancy and rates, while 79% expect an increase of more than 2% onoccupancy and 75% on the rate. 4* and 3* hoteliers are also optimistic, albeit toa lesser extent than their 5* colleagues, particularly in relation to ARR growth.
7%
18%
19%
19%
37%
• All the meters reflect the hoteliers’ projections for current Quarter withrespect to Occupancy (OCC) and the Average Room Rate (ARR) for:– their Own Hotels, in the top half of each page– the Market Overall, in the bottom of each page
How to read the Quarter meters
37% expectsstabilisation –
between -2% and +2%
18% expects anincrease -
between 2% and 5%
7% expects anincrease –
more than 5%
19% expects adecrease –
more than 5%
The needle shows theoverall expectation /
feeling1
19% expects adecrease –
between 2% and 5%
1 The position of the arrow is based on the weighted average of the projections for increases and decreases, where theincreases / decreases of more than 5% have a weight twice as high as the increases / decreases of between 2% and 5%
27%
8%4%
25%
36%
«MY HOTEL»
All hotels
Overall, hoteliersexpecting to close theyear with increases inoccupancy and roomrates in Q4 comparedto same quarter lastyear. A majorityforecasts increases ofat least 2% withrespect to occupancy.For the room rateshoteliers are somewhatmore cautiousespecially for themarket in general, butoverall the hotel sectorremains very positiveon their performance.
31%
7%
4%
26%
32%
36%
14%8%
33%
8%
«MARKET IN GENERAL»
10%
30%
8%11%
42%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
34%
5%2%
30%
29%
«MY HOTEL»
City hotels
The city hoteliersforecast once morestrong improvements inoccupancy levelscomparing Q4 2013with the performanceof last year.
However, hoteliers arenot that optimistic fortheir room rates. Theyforecast similarly toQ3, that the comingquarter the ARR will beat a similar level assame quarter last year.
Overall, this wouldmean that RevPAR willincrease comingquarter.
39%
5%2%
29%
25%
48%
5%
11%27%
9%
«MARKET IN GENERAL»
9%
25%11%
2%
52%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
20%
13%
5%
20%
42%
«MY HOTEL»
Resort hotels
The resort hoteliersmaintain the positivetrend they showedthroughout the year.
All barometers aredeeply green coloured,which means thathotels are expectingsignificant increases inboth occupancy levelsand room rates for thisquarter compared tolast year, both for theirown hotel units as wellas for the market as awhole.
23%
24%5%
40%
8%
23%
10%
5%
22%
40%
«MARKET IN GENERAL»
10%
35%
5%20%
30%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
21%
17% 62%
«MY HOTEL»
5* hotels
None of the 5*hoteliers is expectingsharp decreases inoccupancy and ARR.In fact a vast majorityis forecastingsignificantimprovements inoccupancy levels.Same applies to ARRlevels for their ownhotels, while for themarket in general theyare slightly lessoptimistic with a largegroup (38%) expectingstabilising room rates.
Overall though a verypositive climate in the5* sector.
12%25%
13%
50%
21%
4%
29%
46%
«MARKET IN GENERAL»
42%
8% 12%
38%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
34%
12%
3%
15%
36%
«MY HOTEL»
4* hotels
The barometers of the4* sector also show apositive climate overall,although about 1 out of10 hotelier expectsignificant drops inboth occupancy androom rates.
The majority, however,is optimistic for the lastquarter of this year,resulting in positiveforecasts withsignificant increases inoccupancy and ARR,with the exception ofroom rate forecasts forthe market in general,where hoteliers weremore cautious.
36%
16%
9%
30%
9%
36%
9%
3%
18%
33%
«MARKET IN GENERAL»
12%
32%9%
12%
33%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
22%
6%6%
56%
11%
«MY HOTEL»
3* hotels
The 3* hotel sector isexpecting significantincreases inoccupancy, but withstabilising rates.
The barometers of theirown hotels and thebarometers of themarket in general showa similar trend.
66%
5%6%
17%6%
33%
6%
39%
22%
«MARKET IN GENERAL»
6%
16%6%
5%
67%
ΟCC ARR
ΟCC ARR
Decrease2 – 5%
Stability-2% - +2%
Increase>5%
Decrease>5%
Increase2 – 5%
% of respondents that expected
Expectations for 2013 Q4
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Tourism Barometer2013 Q4
ExpectationsGreek Hospitality Sector
