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September 2022, Virtual
September 29 2022, Virtual
HRG hotel update reveals deteriorating conditions
Hotel rates in Dublin and Zurich have fallen by 21% in the first nine weeks of 2009, according to an update of Hogg Robinson Group's annual hotel survey.
The update found that Moscow was the only key global city which has enjoyed a rate rise this year, of 3%, while Abu Dhabi is now the city with the highest rate after a year of growth in 2008.
The update covers the first nine weeks of 2009. The survey for 2008 was published in late January.
The update also found that all UK "focus cities" had suffered falling average rates this year.
But it also found that the rate of decline in rates quickened in February in all key global.
The exchange rate, with the British pound having fallen against both the US dollar and the Euro, was also hitting UK business.
Margaret Bowler, HRG's director global hotel relations, said: "We are in a year of change; this year is not about having a rate for 12 months, as this data set clearly demonstrates.
"The global hotel industry continues to find itself in uncertain times with average rates falling and occupancy declining.
"Corporate clients need to continually review and consolidate the number of suppliers they work with."