SOURCE: MarketResearch.com

MarketResearch.com

April 16, 2013 03:08 ET

Market Research Report -- Hotel Industry Expects Increase in RevPAR and Occupancy Rates in 2013

ROCKVILLE, MD--(Marketwired - Apr 16, 2013) - MarketResearch.com has announced the addition of the market research report "Global Hotel Industry Survey 2013: Technology Initiatives and Investment Decisions" to their product offering.

Regardless of buyer and supplier categorization, global hotel industry respondents foresee an increase in RevPAR and occupancy rates, which reflects an increase in business opportunities over the next 12 months. The Timetric study reveals that 70% and 71% of respective buyer respondents are more optimistic about an increase in RevPAR and occupancy rates, as compared with 46% and 45% of respective supplier respondents. In addition, 43% and 42% of respective respondents from the Rest of the World and Asia-Pacific expect an 'increase of 3-10%' in RevPAR. Moreover, 27% and 24% of respective respondents from Europe and North America forecast an 'increase of 3-5%' in hotel occupancy rates.

For respondents from both buyer and supplier companies 'cost savings and operational efficiency,' 'service innovation' and 'increasing tourism' are the key drivers of growth in the hotel industry. Additionally, an 'increase in disposable income' is the key driver for buyer respondents, whereas supplier respondents consider the 'development of IT infrastructure' the most important driver.

Respondents consider 'environmentally-friendly initiatives' the foremost emerging trend in the global hotel industry, and growing interest in sustainable travel among tourists is considered a key driver for hotels to acquire green certifications. Consequently, hotels are increasing their commitment to reducing their environmental impact, promoting sustainable business practices and offering green products and services.

Overall, 62% of luxury hotel operators expect to increase their expenditure on technology over the next 12 months, of which 35% expect an 'increase of 3-10%.' In addition, 38% of respondents from other hotels also anticipate an increase in technology expenditure over the next 12 months. Additionally, the survey reveals that 'Wi-Fi technology,' 'online reservations,' and 'high-speed internet access' are the leading technological facilities being provided to customers by luxury hotels. Correspondingly, 'flat-screen televisions,' 'Wi-Fi technology,' and 'online reservation' are the key technological facilities customers expect to see in luxury hotels.

For more information, visit
http://www.marketresearch.com/land/product.asp?productid=7406316&progid=85356

Follow us on Facebook http://www.facebook.com/marketresearchdotcom
Follow us on Twitter http://www.twitter.com/marketresearch_

About Timetric

Timetric is an independent economic and business research firm providing critical intelligence on emerging economies and key global industries. We provide detailed economic and sector intelligence, business insights and authoritative, independent commentary.

Timetric's flagship products are economic and industry intelligence centers, which are premium decision tools that provide access to comprehensive research and expert analysis. They provide invaluable decision support presented in easily digestible formats and grounded in deep research.

One of the key components of each of these intelligence centers are the hundreds of high quality research reports across countries, industries and companies, which Timetric produces each year. These reports draw on in-depth primary and secondary research, proprietary data and high quality modeling and analysis to give you insight into global market and economic dynamics.

About MarketResearch.com

MarketResearch.com is the leading provider of global market intelligence products and services. With research reports from more than 720 top consulting and advisory firms, MarketResearch.com offers instant online access to the world's most extensive database of expert insights on global industries, companies, products, and trends. Moreover, MarketResearch.com's Research Specialists have in-depth knowledge of the publishers and the various types of reports in their respective industries and are ready to provide research assistance. For more information, call Cindy Frei at 240.747.3014 or visit http://www.marketresearch.com.

Contact Information

  • Contact:
    Cindy Frei
    MarketResearch.com
    240.747.3014
    Email Contact