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Hotels in Benelux Suffer From Economic Challenges
Hotels in the Netherlands, Luxembourg and Belgium are still working far below their pre-crisis results. This information is posted in the recent report published by Horwath HTL. Even though 2011 featured substantial growth of both occupancy and room rates, the hotel industry of the region still has not recovered. Current problems in the region will only increase the negative effect on this year’s performance.
Hotels in the Netherlands showed the growth of occupancy in 2011, which increased from 65.1% to 67.2%. The average room rate was also growing throughout a year. This is the first time it has increased since 2007. The average room rate grew from €93 to €98. Despite such growth the situation is worse than in 2007, when the average occupancy was 72.5% and the average room rate was €110. The forecast for growth in 2012 and 2013 is modest – just 1% per year.
What’s interesting, in 2011 5-star hotels in the Netherlands featured the highest growth with occupancy increasing to 68.8%. This segment also reached the highest growth of room rates. However, in 2012 the forecast for luxury hotels is not very positive. Their growth is expected to slow down and occupancy may even fall.
Luxembourg and Belgium accommodations reached the increase of occupancy from 68.1% in 2010 to 69.3% in 2011. Average room rates also added 1.1% in 2011 to the level of €91. Managers of hotels in both countries expect growth in 2012. The forecasted occupancy is 72% and average room rate is €92. However, despite the growth these figures are still far below the results of 2007.
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