CATERING & HOTELS MARKET

ASIA: DECEMBER 2007 - Growth and challenges in the Hong Kong hotel sector.

On 28 September 2007 Mark Lettenbichler, the Chairman of the Hong Kong Hotels Association, published his statement for 2006-2007 in which he reviewed the successes of, and challenges facing, the hotel industry in Hong Kong.

Room inventory had increased from 43,866 rooms at the end of 2005 to 51,742 rooms by July 2007 with a projected inventory of 55,174 by the end of 2007. This will represent an increase of 26% withinin two years.

This rise in room numbers led to a two percentage point decline in average hotel room occupancy rate during the first seven months of 2007 year to 83.4% from 85.4% in the first seven months of 2006.This was counterbalanced by an increase in average hotel room rates of 11.9% resulting in an increase in average yield of 9.3%.

He highlighted the need to be aware of the growing popularity of Macau as a tourist destination. Macau, an hour's ferry ride from Hong Kong has overtaken Las Vegas as the world's leading gambling destination and has a higher per capita GDP than Hong Kong. However given Hong Kong's superior air transport facilities and international connections it should be possible for the hotel industry to benefit from developments in Macau.

An indirect challenge posed by the growth in Macau's tourist infrastructure is the demands it places on the limited pool of suitably skilled staff in the region.

Simon Keswick, the Chairman of Mandarin Oriental International Limited, has also announced his confidence in the sector in the companiy's 2007 interim report. The group's eponymous Kong Kong hotel benefitted from higher average room rate following its refurbishment; the group's Excelsior Hong Kong also achieved good growth in its room rate.

Hong Kong Hotels 2007
Snapdata's Snapshots Hong Kong Hotels 2007 provides 2005 year-end market size data, with 2006 estimates, 4 years of historical data and five-year forecasts. The Snapshots report gives an instant overview of the Hong Kong hotel market, and covers high tariff hotels, medium tariff hotels, tourist guesthouses and unclassified establishments. Market volume is based on number of hotels. The data is supplied in both graphical and tabular format for ease of interpretation and analysis. The Snapshots Hong Kong Hotels 2007 forms part of Snapdata's Catering & Hotels industry coverage.

Singapore Hotels 2007
Snapdata's Snapshots Singapore Hotels 2007 provides 2005 year-end market size data, with 2006 estimates, 4 years of historical data and five-year forecasts. The Snapshots report gives an instant overview of the Singaporean hotel market, and covers budget, mid tier, upper-mid tier and upper tier hotels. Market value is based on room revenues generated. Market volume is based on number of hotel rooms. The data is supplied in both graphical and tabular format for ease of interpretation and analysis. The Snapshots Singapore Hotels 2007 forms part of Snapdata's Catering & Hotels industry coverage.

Germany Hotels 2007
Snapdata's Snapshots Germany Hotels 2007 provides 2005 year-end market size data, with 2006 estimates, 4 years of historical data and five-year forecasts. The Snapshots report gives an instant overview of the German hotel market, and covers hotels, guesthouses, pensions and hotel garni. It does not include group accommodation establishments, holiday centres, youth hostels, mountain refuges or similar establishments. Market volume is based on number of overnight stays. The data is supplied in both graphical and tabular format for ease of interpretation and analysis. The Snapshots Germany Hotels 2007 forms part of Snapdata's Catering & Hotels industry coverage.