gbr tourism barometer 2014 q1

Tourism Barometer

Snapshot Q1 2014

Expectations of the

Greek Hospitality Sector

January 2014

Barometer Snapshot Q1 2014 • For the hotel sector in general the barometers of the first quarter of 2014 show

optimism in terms of occupancy development. However, hoteliers are more

cautious on ARR as they forecast stabilising to slightly increasing room rates.

• For the year of 2014 as a whole the hotel sector expects to achieve significant

improvements in both occupancy and room rates.

More specifically:

• For Q1 2014 city hoteliers expect significant increases in occupancy and

stabilising room rates, while the resort hotels expect to operate at the same

levels as last year. The 5*, 4* and 3* hotel categories all expect this quarter

increases in occupancy. In terms of ARR only the 4* is expecting improvements

as the 5* is forecasting only slightly higher levels, while the 3* expects drops in

room rates.

• For 2014 a a whole both city and resort hoteliers are very positive. Significant

increases in occupancy are expected, while also achieving higher rates. The 5*

and 4* segments are expecting to achieve higher occupancies and ARRs, while

the 3* sector is more cautious with improving occupancy levels and similar room

rates as last year.

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%

49%

44%

6%

3%

26%

21%

«MY HOTEL»

All hotels

For the first quarter of

2014 hotels are overall

optimistic on

occupancy rates as

almost half of them

expects increases of

2% and more

compared to the same

quarter last year, both

for their own hotels as

well as for the market

in general.

With respect to ARR,

they are less optimistic

for Q1. Hoteliers

predict slight increases

in room rates for both

their own hotel units

and the market as a

whole. 51%

41%

12%

24%

23%

50%

44%

12%

17%

21%

6%

«MARKET IN GENERAL»

50%

5%

15%

18%

14%

48%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%

% of respondents that expected

Expectations for 2014 Q1

100%

21%

4%1%

30%

44%

«MY HOTEL»

All hotels

Hoteliers are optimistic

that the recovery of

2013 will continue in

2014 with significant

improvements in

occupancy levels and

increases in the room

rates. About 74%

expects occupancy

increases of more than

2% for their own hotel

units compared to

2013 and 61% expects

this increase for their

room rates.

The forecasts for the

market in general show

similar trends.

50%

30%

2%7%

41%

20%

51%

28%

4%1%

38%

28%


50%

18%

33%

9%

2%

38%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%


Expectations for 2014 as a whole

50%

31%

8%

4%

32%

25%

«MY HOTEL»

City hotels

City hoteliers remain

positive, also for this

first quarter of 2014.

Occupancy levels will

improve at a faster

pace than room rates,

but overall the

barometers show

optimism for both their

own hotels as well as

for the market as a

whole.

49%

46%

14%

15%

17%

8%

51%

35%

10%

28%

27%


49%

6%

17%

16%

15%

46%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



«MY HOTEL»

100%

24%

4%

31%

41%City hotels

The city hoteliers are

hoping to further

benefit from the

improved climate and

expect strong

increases in occupied

rooms in 2014

compared to last year.

Furthermore, they

forecast that the room

rates will improve

significantly as well this

year.

The forecasts for the

market in general and

the expectations for

their own hotels are

very similar.

49%

35%

2%

10%

31%

22%

49%

28%

4%

39%

29%


49%

16%

29%

12%

2%

41%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



50%

93%

7%

«MY HOTEL»

Resort hotels

With respect to the

resort hotels that are

operating this first

quarter, 93% is

expecting stabilising

occupancy levels,

while the room rates

for their own hotels are

expected to slightly

improve this quarter.

For the market in

general it is forecasted

that resort hotels will

operate at the same

occupancy and room

rate levels as last

year’s quarter.

49%

36%

21%

36%

7%

49%

64%

21% 7%7%


49%

7%29%

7%

57%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



100%

18%

4%

2%

29%

47%

«MY HOTEL»

Resort hotels

For 2014 as a whole

the resort hoteliers

maintain the positive

mood. All barometers

are deeply green

coloured, which means

that hotels are

expecting significant

increases in both


room rates in 2014

compared to 2013,

both for their own hotel

units as well as for the

market as a whole.

50%

26%

2%4%

51%

18%

49%

29*%

4%2%

37%

27%


49%

20%

37%

6%2%

35%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



49%

25%

8%

4%

33%

29%

«MY HOTEL»

5* hotels

The 5* segment is

optimistic with respect

to occupancy this Q1

2014. They forecast

significant

improvements this

quarter for both their

own hotels and for the

market in general.

With respect to the

room rates, the 5*

hoteliers are more

cautious, but still

positive. Slightly higher

room rates may be

achieved this quarter

compared to last year.

51%

42%

21%

17%

12%

8%

49%

33%

13%

29%

25%


51%

8%

17%17%

17%

41%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



100%

12%

33%

55%

«MY HOTEL»

5* hotels

For the new year of

2014 as a whole the 5*

hoteliers are much

more optimistic than

the first quarter of this

year.

They expect significant

increases of


none of the hoteliers

forecasted a drop.

Also the room rates

this year are expected

to improve significantly

albeit at a lower level

than the occupancy.

50%

10%

2%5%

60%

24%

51%

29%

43%

29%


51%

17%

41%

5%2%

36%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



50%

48%

4%

28%

20%

«MY HOTEL»

4* hotels

The 4* segment is

expecting a good start

of 2014 with improving

occupancy and room

rates. Very few expect

decreases in

occupancy, while about

half of the market

expects increases of

2% and more, both for

their own hotels and

the market as a whole.

A similar trend is seen

at the ARR forecasts,

although for the market

in general they are

slightly more cautious.

50%

36%

12%

24%

28%

50%

40%

8%4%

40%

8%


50%

16%

16% 16%

52%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



100%

9%6%

44%

41%

«MY HOTEL»

4* hotels

For the year as a

whole the 4* segment

is very optimistic.

All barometers show

that the fast majority is

expecting a good year

in comparison with

2013 with significant

improvements in

occupancy and room

rates.

Only 6% of the

hoteliers expect

decreases of 2 – 5% in

occupancy and ARR

for both the market in

general and their own

hotel units.

50%

24%

6%

44%

27%

50%

15%

6%

35%

44%


50%

27%

38%

6%

29%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



50%

70%18%

12%

«MY HOTEL»

3* hotels

The 3* hoteliers are

expecting this first

quarter of 2014

stabilising to improving

occupancy levels for

both their own hotels

and for the market in

general.

However, they are not

optimistic on their room

rates as they predict

drops in the range of 2

– 5% compared to the

same quarter last year.

50%

58%

12%

19%

11%

50%

51%

38%

11%


50%

29%

8%

63%

ΟCC ARR

ΟCC ARR

Decrease

2 – 5%

Stability

-2% - +2%

Increase

>5%

Decrease

>5%

Increase

2 – 5%



100%

60%

7% 7%

27%

«MY HOTEL»

3* hotels

For 2014 as a whole

the 3* hoteliers remain

optimistic with respect

to occupancy, both for

their own hotels as well

as for market.

Regarding room rates

they expect that after

the forecasted drop in

Q1 of 2014, rates will

stabilise throughout the

year and perhaps

slightly improve.

None of the 3* hotels is

predicting drops of

more than 5% though.

50%

47*%

13%

33%

7%

50%

73%

13% 7%

7%


50%

7%

13%20%

60%

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 Q1

Expectations

Greek Hospitality Sector

http://www.gbrconsulting.gr/

mailto:[email protected]

gbr tourism barometer 2014 q1

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