Deloitte Releases 2018 Travel and Hospitality Industry Outlook
Travel and tourism now account for more than one-tenth of global GDP. What trends can help hospitality and travel companies harness even more growth?
September saw a decline in occupancy and average rates for all categories, with all major areas in France affected. Ile-de-France, the Côte dAzur, and even Regional France, recorded lower RevPAR in all segments, with the exception of Luxury.
Hotel performances for August in Paris and, as feared, on the Côte dAzur dragged down the results for the industry as a whole, in spite of the encouraging performances recorded in Regional France and in Coastal areas.
Regional France was able to capitalise on the Euro 2016 championship to build on the encouraging results posted at the start of the year, with all categories recording higher RevPAR at the end of the first semester. Conversely, and for too long now, there was yet more bad news for Paris in June, with hotels finishing the month and the first semester in the red fairly significantly so, and a definite cause for concern!
Following a month of April when all regions recorded losses, the contrast in Mays performance from one zone to the next was striking. Unfortunately, Ile-de-France continued to pay the heavy price of the terrorist attacks of early 2015 and in Brussels.
Marchs generally positive results led us to believe there was some hope for recovery. Unfortunately, Aprils performances dropped in the majority of categories and throughout most of France. The attacks in Brussels at the end of March reminded international visitors of the ongoing security threat in this part of Europe.
No doubt we will have to wait to see what the real trend is, but Marchs results were generally positive. Regional France, and the Côte dAzur in particular, showed a good start to the year, with the Luxury segment leading the way. Even though Paris and Ile-de-France were still recording lower performances, the declines are lessening. Note that for the first time in a long time, Super-budget hotels saw simultaneous growth in occupancy and average rates.