Spotlight on 2010 travel market: Leisure leads business
December 08, 2009 | Internet Marketing
The good news is that 2010 probably will not be worse than what can only be described as a dismal 2009 for the hotel industry, according to a special report by Hotels magazine. The bad news: Few industry observers expect significant recovery until late in the year, and more likely 2011.
When the recovery does come, analysts predict it will be driven by increased demand helped by minimal supply growth in the second half of next year, which in turn will eventually give operators the leverage to raise rates. The UN World Tourism Organization forecasts a modest global tourism recovery for 2010, with total international arrivals to increase by 1% to 3%.
In the meantime, many hoteliers are hoping just to survive long enough to see the good times come again, coping with soft first-half demand across segments.
On the transactions front, the surge of distressed assets into the marketplace that so many predicted for the second half of 2009 never did come, and now some investors believe it could be late next year before major deals start happening again with any consistency.
Get the full story at Hotels magazine
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