SVENSKA ENGLISH SEARCH ABOUT PANDOX HOTELS OUR BUSINESS SUSTAINABILITY INVESTORS GOVERNANCE PRESS PROPERTY PORTAL Market overview Home About Pandox Market overview ABOUT PANDOX Strategy and vision Organisation Board of directors Executive management Hotel managers Market overview Responsibility CSR projects Pandox spirit History Contact Hotel Market Day Hotel market development – fourth quarter 2015 Good market growth in the fourth quarter The hotel markets in Europe demonstrated continued positive growth also in the fourth quarter, which is dominated by the business travel segment, with a RevPAR (revenue per available room) increase for Europe as a whole of 6 percent. The terrorist attacks in Paris and the links to Brussels had a negative impact on RevPAR for both of these markets in November and December. Pandox has concluded that room bookings in the Brussels market were back at normal levels as of mid-January 2016. According to UNWTO, global international tourism increased by just over 4 percent in 2015 – the sixth consecutive year of growth exceeding 4 percent. The outlook for 2016 remains positive according to the UNWTO, albeit with a slightly lower growth rate compared to the past two years. The prospects for growth for the Nordic countries are still mixed, with the Swedish economy in the lead, followed by Denmark. Continued improvements in key hotel markets RevPAR development quartely (in local currency). FY '12 FY '13 FY '14 FY '15 Q1 '14 Q2 '14 Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 USA 7% 5% 8% 6% 6% 8% 8% 9% 8% 7% 6% 5% New York 6% 4% 3% -2% -1% 5% 4% 1% -4% 7% 1% -2% Montreal -2% 6% 10% 7% 5% 7% 17% 7% 8% -2% 5% 6% Europe 5% 2% 6% 7% 6% 4% 5% 7% 6% 6% 10% 6% London 2% 1% 3% 2% 7% 1% 2% 4% 2% -2% 5% 1% Brussels -2% 2% 3% 2% 5% 4% 3% 1% 2% 8% 13% -10% Berlin 9% 0% 5% 8% 2% 1% 10% 5% 5% 15% 7% 7% Stockholm -5% 0% 2% 9% 4% 0% 3% 1% 5% -3% 23% 11% Oslo -3% 4% 1% 8% 7% -5% 3% 0% 2% 14% 10% 7% Helsinki 4% -5% 2% 2% 2% 0% 4% 3% -1% -3% 6% 6% Copenhagen 5% 6% 4% 11% 13% 2% 3% 1% 8% 10% 12% 14% Source: STR (USA, Canada, Europe, Finland), Benchmarking Alliance (Sweden, Norway, Denmark) North America stable at a high level In the US and Canada, RevPAR growth in the fourth quarter amounted to 5 percent and 1 percent respectively. The corresponding figures for the full year are 6 percent and 4 percent respectively. Montreal hotels had a strong year overall with increased demand in, among others, the conference segment, and increased incoming travel from the US market. The trend of steadily improving average rates and limited new capacity continued in the US market, although the growth rate was slower in 2015. Higher employment figures and pay increases combined with low oil prices are expected to result in a sustained strong demand from the domestic market. A strong dollar is, however, expected to lower international demand slightly, particularly in destinations with a large percentage of foreign visitors, such as New York. Good growth in Europe and the Nordic countries Europe ended the year in a stable position. RevPAR was up 6 percent for the fourth quarter and 7 percent for the full year, driven by good domestic demand, particularly in the leisure segment, and increased demand from non-European travellers, partly due to the strong dollar against the euro. The hotel market in Brussels declined by 10 percent during the quarter as a result of the heightened security status in the city linked to the terrorist attacks in Paris. The Nordic hotel market in general had a strong fourth quarter, with stable growth overall in several large cities and regional cities. In Stockholm RevPAR increased by 11 percent for the quarter in an environment characterised by high economic activity. Growth in Copenhagen continued to rise and was up 14 percent for the quarter, driven in equal parts by demand and average room rates. Despite headwinds in the Norwegian economy due to the crisis in the oil industry, Oslo’s RevPAR increased by 7 percent for the quarter. Demand was helped by a severely depreciated Norwegian krona towards the end of the year. The Helsinki market, which comes from relatively low levels, ended the year with two positive quarters with growth of 6 percent each, entirely driven by higher occupancy. Share: Email Facebook Twitter ABOUT US Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio comprises 112 hotels with more than 24,000 hotel rooms in eight countries. The Company QUICK LINKS About Pandox Hotels Our business Investors Governance Press Contact Strategy and vision Pandox for investors FOLLOW US CONTACT US Pandox AB (publ) Vasagatan 11, 9th floor 101 20, Stockholm Sweden Show on map Tel +46 8 506 205 50 Fax +46 8 506 205 70 Email info@pandox.se Show all contacts