NEWS Topic of ThE moNTh markETiNg oN-liNE pulS Spa
Vip iNTErViEW rEporT coNcEpT & DESigN TEchNology & EquipmENT
 rEPort
(43.3%) is down -26.1% compared to the travel expenses and MICE activity is cut. Budapest’s hotel stock has increased with 214 bedrooms opened. Later this year
same period last year and ADR (€85.93) is Weakening demand has increased pres- over the past month with the opening of the the King’s Court is also expected. Overall by
down -12.9% y-o-y. sure on rates, resulting in severe rate adjust- 54 bedroom – Actor Business Hotel (4th dis- the end of 2009, the Prague hotel stock will
Despite the weakening hotel per- ments. The strong decrease in ADR during trict) and the 160 bedroom – Expo Congress have increased by circa 1,000 bedrooms.
formance in Bratislava, three major hotel the first seven months of 2009 can also be Hotel (10th district). The President Hotel (110 There are continuing concerns that Prague
developments were completed during attributed to the depreciation of the Roma- bedrooms) is expected to open in October is oversupplied, and potentially occupancy
2009; the Vienna International Chopin Air- nian currency. 2009, in the 5th district. The proposed open- and ADR will slow further with this additional
porthotel with 176 bedrooms, the Falken- Interest from international ho- ing of the First Site Hotel and the Courtyard supply entering the market.
steiner Bratislava with 162 bedrooms, and tel chains to penetrate the Romanian by Marriott are now not expected before
the 201 bedroom – Austria Trend Hotel Bra- market remains, with Marriott signing a 2010; while the long-awaited opening of Vienna
tislava. The opening of the 209 bedroom management contract for a 187 bed- the Baglioni Hotel and Rácz Thermal Spa Among the core CEE capital cities,
Sheraton Bratislava Hotel in February 2010 room – Courtyard by Marriott in Bucha- has been delayed until the first half of 2010. Vienna has suffered the least in terms of
and the expected opening of the Kem- rest during H1 2009. August 2009 saw the RevPAR decrease during the last twelve
pinski Hotel River Park, with 231 bedrooms opening of the Capital Plaza Hotel with Prague months. Nevertheless, YTD August 2009
and 30 serviced apartments, will further 95 bedrooms. Later this year, we expect After a difficult 2008, Prague occu- RevPAR was down -23.2% in comparison to
increase the Bratislava hotel stock. The the Grand Continental and the Phoeni- pancy has continued to decline in 2009. YTD last year, a potential result of the large ADR
significant increase during 2009 and 2010 cia Express to open. August 2009 occupancy (56.9%) was down increase last year during the month of June
will put further pressure on ADR and oc- There have been few transactions in -12.1% compared to 2008 and YTD August (Euro 2008 Championships). YTD August
cupancy across the city. Several hotel Romania this year. The sale and leaseback ADR has decreased to €78.86 (-20.1% y-o- 2009 occupancy decreased to 62.7% and
developments in the early construction or between Continental Hotels and Immorent y). The historically strong corporate months ADR to €90.03. Despite the slowing hotel
planning stage have been postponed or of the Hello Hotel is the most recent report- of April – June did not materialise this year performance, the seasonality pattern was
cancelled due to the slowing economy. ed transaction. as a result of weakening demand and a not influenced. June - August occupancy
This might prove to be beneficial for the strengthening in corporate’s buying power. figures decreased less y-o-y, supported by
local market in the long run as it will curb Budapest The leisure months July and August have the traditional tourist peak season. TRI Hospi-
potential further oversupply. Hotel occupancy and ADR in Buda- gone some way to reversing the speed by tality Consulting research shows that chain
pest have followed the traditional season- which occupancy fell in the earlier part of hotels performed slightly better during the
Bucharest ality pattern of an occupancy peak in May the year. summer months in Vienna compared with
Bucharest’s hotel market first showed and an ADR peak in June. Nevertheless, Prague’s development pipeline re- non branded units.
a significant RevPAR decrease in May 2008. both are clearly below previous years’ per- mains strong and some significant new Compared with Prague, there were
YTD August RevPAR has decreased by formance. Occupancy and ADR figures for brands opened in the first eight months. Sher- few hotel openings in 2009; Vienna Interna-
44.4% y-o-y. Both tourist arrivals and over- August 2009 are lower than August 2008, aton and Rocco Forte both opened their first tional opened the Rainers Hotel in April 2009
nights in hotels in H1 2009 have decreased with occupancy at 66.3% (-8.1% y-o-y) and property in the Czech Republic. Further ad- and the Hotel Imlauer Nestroy is expected
compared to H1 2008 and H2 2008. The av- ADR at €61.94 (-22.6% y-o-y). One positive ditions during H1 2009 were the DaVinci ho- for December 2009. The 5-star development
erage length of stay in Romania’s capital note for the hotels in the past seven months tel and Park Inn. In September, Grand Ma- pipeline is extremely strong although sub-
has also decreased as businesses tighten was VAT concession. jestic Plaza with 196 bedrooms and Jurys Inn ject to delays and postponements. Among
NOVEMBER 2009 11
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