Go to main navigation Search on pandox.se Find svenska English Search About Pandox Strategy and vision Organisation Market overview Pandox spirit History Contact Hotel Market Day Hotels Our Business Property management Operator activities Hotel projects Co-partners Sustainability Pandox Fair Play Pandox five focus areas Investors Initial public offering Pandox for investors The share Financial reports Financial calendar Sensitivity analysis Acquisitions and divestitures Financing Investor relations contact Governance General meeting Executive management Board of directors Committees Auditors Corporate governance reports Articles of association Internal control Codes of Conduct Press Press Releases Events Capital Market Day Hotel Market Day Property Portal Market overview Home About Pandox Market overview About Pandox Strategy and vision Organisation Board of directors Executive management Hotel managers Market overview Pandox spirit History Contact Hotel Market Day Hotel market development – fourth quarter 2016 Strong underlying hotel market Demand in the international tourist market increased by close to 4 percent in 2016 according to the UNWTO. It was the seventh consecutive year of growth and it illustrates the underlying strength of the tourism market despite security challenges. The UNWTO’s outlook remains positive, with expected growth in 2017 of 3-4 percent globally and 2-3 percent for Europe. The hotel markets in North America and Europe developed well in general in the fourth quarter. Both of the markets are high up in the hotel business cycle, with growth driven mainly by improved average prices. Altogether, RevPAR (revenue per available room) increased both in Europe and the US by 3 percent in the fourth quarter. Sustained growth in important hotel markets RevPAR development quartely (in local currency). FY '12 FY '13 FY '14 FY '15 FY '16 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '16 USA 7% 5% 8% 6% 3% 5% 3% 3% 3% 3% New York 6% 4% 3% -2% -2% -2% -1% -3% -2% 1% Montreal -2% 6% 10% 7% 9% 6% 5% 1% 16% 10% Europe 5% 2% 6% 7% 2% 6% 3% 3% 2% 3% London 2% 1% 3% 2% -1% 1% -4% -3% 1% 2% Brussels -2% 2% 3% 2% -18% -10% -8% -29% -26% -4% Berlin 9% 0% 5% 8% 4% 7% 6% 0% 6% 3% Frankfurt 5% 5% -2% 9% -2% 1% 4% 3% -9% -1% Stockholm -5% 0% 2% 9% 8% 11% 4% 20% 0% 6% Oslo -3% 4% 1% 8% 3% 7% 2% 0% 9% 0% Helsinki 4% -5% 2% 2% 7% 6% 6% 12% 11% 0% Copenhagen 5% 6% 4% 11% 13% 14% 3% 15% 18% 14% Source: STR (USA, Canada, Europe, Finland), Benchmarking Alliance (Sweden, Norway, Denmark) Increased avarage prices drive growth th the US and Canada In the US and Canada, RevPAR increased by 3 and 6 percent respectively in the fourth quarter, driven mainly by higher average prices. The hotel business cycle has reached a more balanced phase in the US in which supply and demand are growing at the same pace after several years of demand deficit. Montreal had a strong fourth quarter (+10 percent) explained by good demand from, for example, the US and Asian inbound markets and positive average price development. The closure of a large hotel for renovation also had a positive impact. Europe positive on the whole The hotel markets in Europe as a whole developed positively in the fourth quarter and RevPAR increased by 3 percent as a result of stable growth in demand and improved average prices. Certain European countries benefitted from a change in the security situation. Spain and Portugal had record numbers for 2016, while Turkey lost one third of its RevPAR compared to 2015. The rate of decline in Brussels and Paris slowed significantly in the fourth quarter and positive growth should be possible towards the end of the first half of 2017. London experienced a small upswing in the fourth quarter, partly due to a weaker currency. Development in Germany remained strong and RevPAR increased by 4 percent in the quarter and 5 percent for the full year. Strong quarter in the Nordics RevPAR growth in Oslo and Helsinki remained unchanged during the quarter. In Helsinki the opening of two new hotels with a combined 700 or so rooms had a dampening effect and this is likely to continue in the short term. Growth in RevPAR for 2016 as a whole in Helsinki was good, at 7 percent, mainly driven by improved average prices. Copenhagen ended an already strong year with growth of 14 percent in the fourth quarter. Several factors explain this strong development, including a record strong year for conferences and trade fairs and limited addition of new hotels. Development was similar in many German cities such as Düsseldorf, Hannover and Hamburg. Stockholm enjoyed continued strong development, with RevPAR growth of 6 percent in the fourth quarter. Demand increased in Stockholm for the seventh consecutive year at the same time as average prices increased by 5 percent for the year as a whole. Jonas Törner Senior Vice President, Business Intelligence jonas.torner@pandox.se Press releases Pandox AB (publ) interim report January – September 2017 November 10 2017, 07:00 Presentation of Pandox AB’s interim report January-September 2017 October 26 2017, 10:00 Pandox AB receives positive verdict in civil case regarding claims against former lessee and may claim compensation through the bankruptcy proceedings October 11 2017, 08:00 Share: Email Facebook LinkedIn 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 122 hotels with approximately 27,000 hotel rooms in eleven countries. 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