GBR Tourism Barometer 2014 Q3

Tourism Barometer

Snapshot Q3 2014

Expectations of the

Greek Hospitality Sector

July 2014

Barometer Snapshot Q3 2014 • Overall the Greek hotel sector is very optimistic for the coming third quarter of

2014. Significant increases are forecasted compared to the same period last

year for both occupancy and room rates.

• The city hoteliers have a very positive outlook for Q3 2014 on all levels, while

the resort hotels are more cautious in their predictions: although the

barometers show a positive development overall, still approximately 4 out of 10

resort hoteliers expect stabilising occupancy levels and ARRs or even

decreases.

• The analysis per hotel category of this quarter’s barometer survey shows that

– The 5 and 4 star hoteliers are very positive expecting strong improvements in occupancy

and room rates this quarter.

– The 3 star hotels are among the most optimistic of this quarters’ survey. Significant

improvements are forecasted on all fronts.

– The 2 star hoteliers are optimistic with respect to their occupancy levels as they forecast

significant improvements. However, in terms of room rates they expect overall a

stabilising trend for both their own hotels as for the market in general.

50.0%

7%

18%

19%

19%

37%

• All the meters reflect the hoteliers’ projections for current Quarter with respect 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% expects

stabilisation –

between -2% and +2%

18% expects an

increase -

between 2% and 5%

7% expects an

increase –

more than 5%

19% expects a

decrease –

more than 5%

The needle shows the

overall expectation /

feeling1

19% expects a

decrease –

between 2% and 5%

1 The position of the arrow is based on the weighted average of the projections for increases and decreases, where the

increases / decreases of more than 5% have a weight twice as high as the increases / decreases of between 2% and 5%

5%3%

18%

32%

42%

«MY HOTEL»

All hotels

The Greek hoteliers

continue to be very

optimistic on the

performance of their

hotels in the third

quarter of this year.

They forecast

significant

improvements in

occupancy levels and

room rates compared

to the same quarter

last year. For the

market in general

hoteliers are slightly

more cautious on ARR

development, but still

very positive.

7%

6%

17%

38%

33%

3%

6%

15%

38%

37%

«MARKET IN GENERAL»

5%

8%

21%

37%

29%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%

% of respondents that expected

Expectations for 2014 Q3

2%

11%

29% 58%

«MY HOTEL»

City hotels

The city hoteliers in the

barometer survey

expect clearly

significant

improvements in the

overall performance of

their hotels. Almost 9

out 10 hoteliers expect

occupancy levels to

improve with 2% or

more for both their

hotel units and the

market as a whole.

With respect to room

rates about 8 out 10

hoteliers expect similar

performance.

2%2%

15%

39%

42%

2%

11%

41%46%


3%3%

20%

38%

38%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



6%

8%

23%

35%

29%

«MY HOTEL»

Resort hotels

The resort hotels are

more cautious than the

city hotels in their

forecast for the coming

quarter. Even though

the barometers show a

positive development

overall, there is a

group of hoteliers that

expects stabilising


ARRs or even

decreases. Around 4

out 10 hoteliers fall in

these categories, while

6 out of 10 hoteliers

expect increases of 2%

and more for both

occupancy and room

rates.

10%

8%

18%37%

27%

6%

10%

21%35%

29%


7%

14%

21% 37%

21%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



3%3%

11%

37%

46%

«MY HOTEL»

5* hotels

The 5 star hoteliers

have forecasted for this

coming quarter

significant

improvements in


room rates. We note

that for the market in

general, 24% expects

stabilising and 6%

falling ARRs. On the

other hand, 69% has

forecasted strong

increases in ARR and

82% in occupancy as

well.

3%

15%

47%

35%

3%3%

12%

55%

27%


3%3%

24%

45%

24%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



7%

19%

32%

42%

«MY HOTEL»

4* hotels

The barometers of the

4 star hotels are all

predicting a very good

third quarter compared

to last year.

Nevertheless, a large

minority expects

stabilising levels or

even decreasing rates.

The forecasts of the

market in general is

very similar to the

forecasts of their own

hotels.

3%

7%

26%

29%

36%

3%6%

19%

31%

41%


7%

28%

31%

35%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



20%

25% 55%

«MY HOTEL»

3* hotels

The 3 star hoteliers are

the most optimistic of

the barometer survey

for the coming quarter.

In terms of occupancy

none of the hoteliers is

expecting decreases

and for rooms rates

only 6% expects mild

decreases of 2-5% as

far as their own hotels

are concerned. For the

market in general the

outlook is also very

positive with 85%

expecting increases in

occupancy of 2% and

more and 82% similar

increases in ARR.

5%

10%

25%60%

6%

13%

38%

44%

6%

13%

38%

44%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%




11%

11%

16%26%

37%

«MY HOTEL»

2* hotels

The 2 stare hoteliers

show a mixed picture.

While they are very

optimistic to improve

their occupancy rates

with at least 2%, they

expect overall

stabilising room rates.

For both the market as

a whole and their own

hotels around 50%

expects increases

while the other 50%

expects stabilising

ARRs or decreases.

25%

13%

13%

31%

19%

6%

11%

17%

22%

44%


13%

25%

13%

31%

19%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



4, Sekeri Street

106 74 Athens

Phone: +30 210 3605002

Fax: +30 210 3606935

Web: www.gbrconsulting.gr

Email: [email protected]

Tourism Barometer

2014 Q3

Expectations

Greek Hospitality Sector

http://www.gbrconsulting.gr/

mailto:[email protected]

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GBR Tourism Barometer 2014 Q3