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Hotels in Asia Pacific Will Benefit from Meetings and Events in 2013

The economy of Asia Pacific is distinguished by rather a strong growth, and so more meetings are expected to be held in the region in future. Therefore, hotels in this region will see a sufficient growth of revenues connected with business meetings and other events. This information is mentioned in the latest report by American Express.

The number of meetings in hotels in Asia Pacific will grow by 6.4% in 2013. This will make the revenues associated with this business activity grow by 4.2%.

The forecast for North America is relatively flat, while hotels in Europe are likely to face declines in both the number of meetings and the revenues associated with them.

While Asia Pacific economy is expected to grow, and its businesses will be more active, Europe will still have to face negative consequences of the economic crisis. This will make companies cut their expenses and shift to more local and cheaper meetings.

When it comes to hotel rates for group meetings, Europe is expected to remain flat, while Americas and Asia are forecasted to increase their rates by 4%.

07.12.2012

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