LONDON—Four cities have been added to the Hotel Market Forecast reports programme of STR Global, the leading provider of performance data to the world’s hotel industry. In Scandinavia, these are Stockholm, Oslo and Malmo. Dubai is the first market covered in the Middle East. The Hotel Market Forecast reports provide two years of forecast data that reduce uncertainty and improve the decision-making process of hotel owners and operators and, ultimately, add to the bottom line.
Forecasted RevPAR performance for year-end 2009 vs. 2008
|
|
Best case
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Worst case
|
|
Dubai
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-25%
|
-28%
|
|
Malmo
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0%
|
-2%
|
|
Stockholm
|
-6%
|
-8%
|
|
Oslo
|
-11%
|
-13%
|
Source: STR Global
The Hotel Market Forecast gives subscribers the expected occupancy, average room rate and revenue per available room (RevPAR) performance for a selected market.
“We are delighted to bring the forecasting potential of our reports to these new markets”, said Elizabeth Randall, managing director of STR Global. “The four markets for which we now have Hotel Market Reports are important in their respective regions and once again highlight the broad reach of our knowledge base at STR Global”. The Hotel Market Reports were launched for 42 markets in March 2009.
Produced in conjunction with e-forecasting.com, an economic consulting company based in the U.S., the market forecast is based upon the most recent available economic data and STR Global’s historic market data. The advanced model considers about 300 economic indicators, including gross domestic product, the price of oil, exchange rates, consumer confidence and business sentiment. It also takes into account local drivers of a particular market. Each market has a unique model to predict future performance that includes the impact of destination brand marketing and major local events, enabling subscribers to keep an eye on specific upcoming conditions.
“Market conditions change rapidly, so it is increasingly necessary to stay regularly appraised of industry conditions”, Randall said. “Our monthly Hotel Market Forecasts give the timely information needed to make important business decisions”.
The report includes 18 months of historic hotel performance data and details of the key assumptions used. STR Global will also show how close the forecast was to what actually happened, so that trends can be better understood and charted.
You can purchase the Hotel Market Forecast reports on an annual subscription basis. For further information and details of how to subscribe, please contact Thomas Emanuel, director of sales, at temanuel@strglobal.com or +44 207 922 1949.
About STR & STR Global:
For more than 20 years, Smith Travel Research, Inc. (STR) has been the recognized leader for hotel industry benchmarking and research. STR and STR Global offer monthly, weekly and daily STAR benchmarking reports to more than 38,000 hotel clients, representing over 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit www.strglobal.com or www.HotelNewsNow.com.
About e-forecasting:
e-forecasting.com, an international economic research and consulting firm, offers forecasts of the economic environment using proprietary real-time economic indicators and produces company and industry-specific leading indicators for its clients. In cooperation with its affiliate, Infometrica, Inc., e-forecasting.com works with business publications and clients across the globe to provide country and state-level economic content on a monthly and quarterly basis thus their predictive intelligence input is used by practitioners around the globe.
Media contacts:
Konstanze Auernheimer
Director of Marketing
STR Global
kauernheimer@strglobal.com
+44 (0)207 922 1961
Jeff Higley
Director of Communications/Editorial Director, Digital Media
jeff@smithtravelresearch.com
+1 (615) 824-8664 ext. 3318
