Docstoc

World Budget _ Economy Hotels Congress Survey September 2011

Document Sample
World Budget _ Economy Hotels Congress Survey September 2011 Powered By Docstoc
					  Full text reading:http://en-financial.com




   World Budget & Economy Hotels
          Congress Survey
                                       September 2009



In association with the World Budget & Economy Hotels Congress, June 2010, London




                                                                               Produced by




   Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   1

  Full text reading:http://en-financial.com
  Full text reading:http://en-financial.com




Table of Contents



    Foreword                                                                                       3


    Breakdown of Respondents                                                                       4


    Key findings in detail                                                                         6


    Summary                                                                                        10




   Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   2

  Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com




Foreword
The economy and budget hotel industry has faced a turbulent 12 months, but is emerging from
the depths of economic uncertainty with renewed confidence and optimism.

Many of the challenges of the last 12 months are still prevailing, with investment and financing
continuing to prove difficult for many businesses. New build development has slowed
significantly, and for those who are venturing here, location remains a crucial factor. New entrants
into the sector may have decreased, but competition is fiercer than ever – the budget and economy
sector now has to compete with the big mid-market chains in a ‘fight for survival’ price war as the
brand giants slash rates to encourage the increasingly discerning and cost-conscious customer.

But exciting opportunities are still out there.
Marketing and brand enhancement are more of a focal point than ever in the goal to differentiate
an offering. Customers’ expectations have moved on – value is their new mantra, and hotels need
to ensure consistency in the delivery of a positive customer experience. New online
communication platforms are encouraging the development of cost effective marketing tools.
Innovations in technology are delivering constant improvements in systems efficiency. The
potential to decrease costs has never been more apparent.
Where new build development has stalled, potential is seen regarding conversions – for both
brand and non-brand businesses – and franchising is an increasingly attractive option for many.
Western Europe is still the focus of development for many businesses over the course of the next
12 months, but the potential of the Middle East and North Africa, China, India, and Central and
Eastern Europe continues to form a crucial part of development strategies.

The aim of this survey is to uncover the challenges, issues, emerging trends and opportunities for
within the budget, economy and mid-sector hotel industries, and to identify how the sector can
position itself for recovery.

I hope that you will find this analysis interesting and useful to your business. They will be
discussed and debated in depth at the World Budget & Economy Hotels Congress 2010 to be held in
London from 16-18 June. If you’d like more details please contact me and I’ll ensure that you
receive a copy of the programme when it’s completed.

Kind regards,




Louise Bannister
Director, World Budget & Economy Hotels Congress
Terrapinn Limited


      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   3

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com




Breakdown of Respondents
In total 238 executives completed the survey. They were roughly evenly split between limited
service, budget and economy businesses, the midscale and luxury market, and industry service
providers. The breakdown is illustrated below:




     Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   4

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com



Respondents from within the hotel industry mainly represented the ‘operator’ or
‘owner/developer’ category.




      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   5

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com




Key findings in detail
Current challenges for the budget and economy hotel sector

The ongoing affects of the global recession unsurprisingly continue to pose challenges for the
industry. The issue of financing is still at the forefront of concerns moving into 2010, whilst more
general challenges relating to the economic downturn continue to play a significant role in
directing business strategies.




      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   6

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com



Trends and innovations – identifying the pathways to long term growth

Whilst the economic downturn is posing its obvious challenges, an optimistic outlook is evident
where respondents identified clear opportunities to expand the boundaries of their business,
engage customers, and develop long term growth.

Brand development was highlighted as a key strategic focal point moving into 2010. This is an
area which we’ll be examining in more detail during the course of next year’s congress.

Interest is still high regarding opportunities within emerging markets, with respondents identifying
India and China as the regions which hold the greatest unrealised potential.




      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   7

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com



Development opportunities

Respondents also held an optimistic and confident outlook for expansion prospects over the next
year, with almost two thirds affirming that investment in the development or acquisition of room
capacity was a very real intention, despite economic uncertainty.




      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   8

    Full text reading:http://en-financial.com
    Full text reading:http://en-financial.com



Industry competition

The majority of respondents felt that new entrants into the budget and economy sector would not
pose a serious threat to existing businesses. However, whilst current uncertain economic
conditions may well attribute for a decline in new entrants into the market, the industry is
nevertheless still experiencing the emergence of new independent brands; thus, a significant one
third of respondents are deciding to err on the side of caution in assessing the strength of a would-
be competitor.




      Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   9

    Full text reading:http://en-financial.com
     Full text reading:http://en-financial.com




Summary
Based on our survey we understand that the budget and economy industry needs to…

    •    Further explore investment and financing opportunities
    •    Better understand the importance of location – what’s the key to sourcing sites and
         development opportunities?
    •    Explore the merits of various business and operational models in achieving optimum
         success in the economic downturn
    •    Look into the opportunities and practicalities of brand development and alternative
         marketing methodologies
    •    Understand which new technologies and innovations hold the key to cost effective
         customer engagement and the optimum delivery of value-focused customer experience

All of these issues and more will be addressed at the World Budget & Economy Hotels
Congress 2010 (London, 15-17 June). With these results we are offering a special early booking
rate saving you £905 if you register as a delegate before 9th October.

 Package                   Dates                 Price before 9th                   Full price
                                                 October

 Gold pass:                15-17 June 2010       £2,060.00 + VAT £309.00 =          £2965.00 + VAT
 All 3 days including                            £2369.00 SAVE £905!                £444.75 = £3409.75

You can secure this rate by booking online now. Please click on the following link.

https://secure.terrapinn.com/V5/rCalc.aspx?E=3303&R=CLKS

Are you a…

    •    Consultant
    •    Lawyer
    •    Financial Service Provider
    •    Architect
    •    Technology or equipment provider

The programme is currently in production and speaking and sponsorship opportunities are
available now. If you are interested in finding out how you can get involved please contact:
matt.anderson@terrapinn.com




        Copyright of Terrapinn Ltd. Not for reproduction or use without the written consent of Terrapinn Ltd.   10

     Full text reading:http://en-financial.com

				
DOCUMENT INFO
kuo shi kuo shi chn-news http://chn-news.com
About From China, sharing the world's resources