Hotel industry - additional information
The Global Hotel Market Sentiment Survey is a bi-annual report released by hospitality consulting company Horwath HTL. Each report is based on the results of a survey of hotel operators from around the world on their current outlook regarding occupancy, room rates and revenue and what they think will happen within the industry in the next half year. In 2009, survey respondents worldwide reported a pessimistic outlook for the hotel industry, particularly in Europe where the average sentiment was negative 55 for the second half of the year. Since then, positivity within the industry has improved: in the first half of 2014, global sentiment was 25 and reached as high as 40 in the Americas.
The revenue of the global hotel industry was forecasted to reach 550 billion U.S. dollars by 2016. Globally, average daily hotel rates were highest in the Middle East/Africa in 2014. At 165.97 U.S. dollars, the average daily rate there was around 50 dollars more than that of the region with the lowest rates, Asia Pacific. The highest occupancy rates could be seen in the Asia Pacific region and Europe at 68.6 percent and 68.8 percent respectively. The region with the lowest hotel occupancy rate worldwide was Northern Africa.
In 2014, the leading hotel company worldwide was UK-based company InterContinental Hotels Group (IHG) with a gross revenue of 22.8 billion U.S. dollars, including revenues from franchised hotels. The company owns chains such as Crowne Plaza and Holiday Inn.