Hospitality Vision Global Performance Review
World tourist arrivals passed another milestone in 2007 to reach 900m – overtaking tourism forecasts for the fourth successive year. This 6% year-on-year increase is even more remarkable, given that the worldwide figure hit the 800m mark just two years ago according to the World Tourism Organisation.
With so many more people travelling, it’s no wonder that 2007 was a year of double celebrations for hoteliers and a double first for the hospitality industry. All four regions – Asia Pacific, Central and South America, Europe and the Middle East – not only celebrated double-digit growth in revenue per available room (revPAR) but also in average room rates.
Excellent performances in various parts of the world have led to interesting changes in the top 20 revPAR Global Ranking Index (GRI) and occupancy GRI tables. In this, the fifth edition of the Global Ranking Index by Deloitte we compare the performance of 165 cities outside North America, and look more closely at those who are in, those who are out, and the newcomers who are beginning to make an impact.
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