Hotel Study 2006,
highlights that the euphoria for the upturn
of Greek Tourism in 2005 masks some very important
shifts in qualitative characteristics. In particular:
Customer profile
The market mix changed substantially in favour
of travel agency and conference segments, at
the expense of business and FITs and to a minor
extent tour operators.
| Market mix |
2005 |
2004 |
2003 |
| Government |
0.3% |
0.3% |
0.9% |
| Business |
12.5% |
13.2% |
18.7% |
| Individuals |
13.8% |
16.5% |
14.2% |
| Travel Agents |
10.8% |
7.6% |
5.6% |
| Tour Operators |
31.7% |
31.1% |
32.3% |
| Conference |
20.5% |
21.7% |
17.9% |
| Other |
10.5% |
9.5% |
10.3% |
| |
100.0% |
100.0% |
100.0% |
Additionally, the percentage
of repeat, i.e. loyal, customers is steadily
decreasing.
| |
2005 |
2004 |
2003 |
| Repeaters |
17.3% |
19.1% |
21.6% |
Performance
On the other hand:
- the ARR increased from € 106 in 2003 to € 141 in 2005
(having peaked at € 184 during Olympic
year of 2004).
- The RevPAR similarly increased between 2003 and 2005 from € 60 to €
79 (2004: € 83).
- Occupancy rates improved marginally from 56.8% in 2003 to 58.2% in
2005 (2004: 50.3%).
Furthermore:
- Payroll and Related increased
in absolute and percentage terms and now
correspond to almost 50% of turnover.
- Marketing further increased from 2.7% in 2003 to 5.4% in 2005 as a percentage
of total sales.
- However, the increased marketing
activities did not result into better revenue
nor to better GOP, which fell from 18.2% in 2003 to 17.1% in 2005.
Overall one can conclude
that the 2004 Olympic push did not materialize
in the high-spend FIT market segments but primarily
in Travel Agency and, to a lesser extent, in
the Conference segments. Increased Payroll cost
more than covered price and occupancy rises
leading to a drop in GOP.
In addition to the general results,
the analysis is also performed for the following 3 segments of the market:
- 5 star hotels
- City hotels (5 and 4 star)
- Resort hotels (5 and 4 star)
Data analysis (market mix, occupancy,
ARR, RevPAR, payment terms, P&L analysis
etc.) covers data from 2005 on its own, but
also in comparison to 2004, 2003 and 2002.
The Hotel Study was conducted under the auspices of
Sete and the support of Traveldailynews.
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under
auspices of
with
the support of
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