City hotels in Europe and Middle east – most profitable
City hotels in Europe and the Middle East recorded the best results for 2008 despite the deepening financial and economic crisis, a survey of “Deloitte”. The travle report says the company “Development and prospects in the tourism sector, the cities of the two regions are the most positions in the leading places on the charts for the past year despite the global contraction in demand.
The study of “Deloitte” reflects the global economic situation and consider two periods of the year - growth during the first half of 2008 and the crisis led to the sector since July. For twelve months the increase in the number of tourists worldwide exceeds 2 percent compared to 2007, after a severe downturn since October despite a good start in the first two quarters, equivalent to 5%. The slowdown in the sector during the second half of this year increased the number of tourists with only 16 million to the total number from 924 million for the year.
In this travel and accommodation market environment cities in Europe and the Middle East are tied on seven of the first twenty places in the rankings by revenue availability, conclude by Deloitte. Registered travel market turmoil logically lead to small shifts in performance compared to the same evaluation criteria by 2007, but the overall picture remains the same – clearly distinct superiority of both cities from the region.
Ranking for the highest revenue from accommodation and rooms is led by Moscow hotels, Dubai hotels, Abu Dhabi hotels and Geneva hotels, as compared to 2007, the most significant change is precisely Abu Dhabi – a growth of 46.3%. According to the Deloitte “biggest loser is the decline of Mumbai with 11.1 percent.
“The financial turmoil that contributed to the crisis of confidence in the last quarter of the year, reduce the cost of travel and recreation both by individuals and corporations. Looking ahead, the threat of deflation could be more big problem, “said managing associate for the tourism industry in Deloitte. What will happen on the travel market in 2010 remains to be seen.
