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Hotels in Benelux and Their Mixed 2011 Results
The research of Horwath HTL Hilversum reveals rather mixed results for hotels in Benelux countries. Hotels in Belgium and Luxembourg showed the increase in occupancy and decrease of ADR, while hotels in the Netherlands have improved both figures.
The results of the research show that the Netherlands added more than a percent to occupancy of its hotels – if in 2010 the average occupancy was 65.1%, in 2011 it grew up to 66.6%. The expected occupancy for this year is 68.8% - this figure will bring the hotels in the country to pre-recession level of 2008.
Even though financial crisis is not fully conquered yet, the Dutch hotels show the increase in their room rates. This is done for the first time since 2007. The increase estimates 6% from €93 to €99.The local hoteliers expect rates to grow during 2012 as well; it is forecasted that the average rate will go up to €102. However, this figure is still 7% less than in 2007. As expected, the positive results of the country’s hotel market are mostly geared up by hotels in Amsterdam. The capital of the Netherlands increased the occupancy of its hotels from 75.1% to 77.0%, and its room rates added 12% and increased from €109 to €122.
The occupancy of hotels in Belgium added 3.2% (68.3% in 2010 and 71.5% in 2011), but the average room rates fell down a bit from €90 to €89. However, the forecasts for this year are positive as the hotels of the country are expected to gain their occupancy to 73.4%. This will return Belgium hotels to pre-recession occupancy. In Belgium the growth of occupancy was mainly lead by the three star hotels. The accommodations of this segment increased their revenues by 10%.
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