Global Hoteliers Expect A Tough Year Ahead For 2009

Hoteliers throughout the world are unanimously expecting declines in business performance for 2009 according to the Horwath HTL Global Hotel Market Sentiment Survey.

In the face of the global economic downturn, it is not surprising the results of Horwath HTL’s survey indicate a tough year ahead in 2009. The survey ranked the global economic situation as the number one factor negatively influencing the market, followed by global stock market trends, and local economic trends.
General market sentiment was on the pessimistic side, with a global average score of negative 34.2. The only region to achieve a positive average sentiment score is South America, registering a score of 9.7. On the other hand, hoteliers in North America, which 2 include markets hugely affected by the global economic downturn such as the USA and Canada, expected a relatively bleak outlook in 2009 as the region registered a sentiment score of negative 41. Asian hoteliers held the most pessimistic outlook for the year with an overall average sentiment score of negative 41.2 with Japan (-74.1), Singapore (-64.3) and Hong Kong (-52.7) the most pessimistic in the region.
The top five countries (with a sufficient response rate) with the highest sentiment scores were Indonesia (-4.3), South Korea (-7.2), Norway (-20.3), South Africa (-20.9) and Mexico (-24.5). Japan (-74.1), Slovakia (-68.4), Singapore (-64.3), Russia (-58.9) and the USA (-54.8) rounded up the bottom five.

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Horwath HTL

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