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‐1‐
TrendsintheInternationalHospitalityIndustry
RussellKettManagingDirector–HVSLondon
‐2‐
AGENDA
EconomicHighlights
TourismTrends
PerformanceData
InvestmentTrends
HotelValues
‐3‐
ECONOMICHIGHLIGHTS
‐4‐
RealGDPGrowthForecastbyRegion
Source: World Bank
‐8% ‐6% ‐4% ‐2% 0% 2% 4% 6% 8% 10%
OECDCountries
EuroArea
Japan
US
EastAsiaandPacific
EuropeandCentralAsia
LatinAmericaandCaribbean
MiddleEastandNorthernAfrica
2011F
2010
2009
‐5‐
ContributionofTravel&Tourism‐World‐
Source: WTTC
T&Tcontributesto...
2010(%)
Trend10‐yeartrend(%)
GrossDomesticProduct
9.1 9.6
Employment 8.8 9.7
VisitorExports (5.8) 4.7
Investment 4.5 4.6
‐6‐
TOURISMTRENDS
‐7‐
InternationalArrivals(millions)
Source: UNWTO
0
100
200
300
400
500
600
1990 1995 2000 2005 2008 2009 2010
Europe
AsiaandthePacific
Americas
Africa
MiddleEast
‐8‐
ChangeinInternationalArrivals09/10(%)
0%
2%
4%
6%
8%
10%
12%
14%
16%
MiddleEast AsiaandthePacific
Africa Americas Europe
Source: UNWTO
‐9‐
TopTenTourismDestinations(millions)
Source: UNWTO
0
10
20
30
40
50
60
70
80
90
2006 2007 2008 2009 2010
France
US
China
Spain
Italy
UK
Turkey
Germany
Malaysia
Mexico
‐10‐
InternationalArrivalsBreakdown(2010)
Source: WTO
NorthernEurope12%
WesternEurope32%Central/
EasternEurope20%
Southern/MeditEurope
36%
Europe
North‐EastAsia55%
South‐EastAsia34%
Oceania6%
SouthAsia5%
AsiaandthePacific
NorthAmerica66%
Caribbean13%
CentralAmerica
5%
SouthAmerica16%
Americas
NorthAfrica38%
SubsaharanAfrica62%
Africa
‐11‐
InternationalArrivalsbyRegionofOrigin(millions)
0
100
200
300
400
500
600
1990 1995 2000 2005 2008 2009 2010
Europe
AsiaandthePacific
Americas
Africa
MiddleEast
Source: WTO
‐12‐
InternationalTourismReceipts(US$billion)
Source: UNWTO
0
50
100
150
200
250
300
350
400
450
500
2006 2007 2008 2009 2010
Europe
AsiaandthePacific
Americas
Africa
MiddleEast
‐13‐
InternationalTourismExpenditure(US$billion)
Source: UNWTO
0
10
20
30
40
50
60
70
80
90
100
2006 2007 2008 2009 2010
Germany
UnitedStates
China
UnitedKingdom
France
Canada
Japan
Italy
RussianFederation
Australia
‐14‐
GlobalSupply&Demand
Source: STR Global
‐15‐
PERFORMANCEDATA
‐16‐Source: STR Global
‐30% ‐20% ‐10% 0% 10% 20% 30%
Europe
AsiaPacific
MiddleEast/Africa
Americas
RevPARVariance
09/10
08/09
07/08
50%
55%
60%
65%
70%
75%
2007 2008 2009 2010
Occupancy
Europe
AsiaPacific
MiddleEast/Africa
Americas
80
90
100
110
120
130
140
150
160
170
2007 2008 2009 2010
ADR($)
‐17‐
RevPARGrowth09/10
MiddleEast/Africa
AsiaPacific
Europe
Americas
‐2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
‐4% ‐2% 0% 2% 4% 6% 8% 10% 12% 14%
ΔOccup
ancy
ΔADR
‐18‐
Year‐to‐JulyOccupancy
Source: STR Global
50%
52%
54%
56%
58%
60%
62%
64%
66%
Europe AsiaPacific MiddleEast/Africa
Americas
Jul‐10
Jul‐11
‐19‐
Year‐to‐JulyADR($)
Source: STR Global
0
20
40
60
80
100
120
140
Europe AsiaPacific MiddleEast/Africa
Americas
Jul‐10
Jul‐11
‐20‐
Year‐to‐JulyRevPARVariance
Source: STR Global
‐15% ‐10% ‐5% 0% 5% 10%
Europe
AsiaPacific
MiddleEast/Africa
Americas
10/11
‐21‐
INVESTMENTTRENDS
‐22‐Source: Jones Lang LaSalle Hotels
HotelInvestments2010
‐23‐
GlobalHotelTransactionsVolumes1998–2011F
Source: Jones Lang LaSalle Hotels
‐24‐
Investors’Profiles(2010)
Source: Jones Lang LaSalle Hotels
‐25‐
Pipeline–July2011(NumberofRooms)
Source: STR Global
Asia/Pacific306,537
Caribbean/Mexico18,709
Central/SouthAmerica27,457
Europe130,260
MiddleEast/Africa125,268
LondonhasthegreatestnumberofroomsunderconstructioninEurope
39%ofAsia/PacificgrowthisinChina
‐26‐
HOTELVALUES
‐27‐
HotelValuesperRoom(US$)Top15Markets–2010
Source: HVS
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
‐28‐
ValueperRoom–Europe
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
AverageValue
perRoo
m(U
S$)
Source: HVS
‐29‐
ValueperRoom–Asia
Source: HVS
‐
100,000
200,000
300,000
400,000
500,000
600,000
HotelValue
spe
rRo
om(U
S$)
‐30‐
ValueperRoom–USA
0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
AverageValue
perRoo
m(U
S$)
Source: HVS
