Luxury Hotelier - June 2008 - (Page 22)

22| Insight Smith Travel Research Tropical destinations drive higher seasonal occupancies and ADR he global hotel industry has carefully watched the first quarter of this year for signs of an economic impact on lodging. Was the first quarter the beginning of a global downturn? While winter isn’t the high point of the travel season for most western business centers, it is a peak season for many tropical destinations. STR examined luxury and upper-upscale hotels in tropical locales to see if luxury tourists were still traveling to their winter retreats this year. Tropical beaches face distinct issues that affect lodging demand. Caribbean destinations are battling U.S. passport restrictions and CHARLES currency exchange issues. SNYDER This favorably affects the two Charles Snyder U.S. possessions on our list: is marketing coordinator for the U.S. Virgin Islands and Smith Travel Puerto Rico. In these locaResearch of tions, no passport is required Hendersonville, Tennessee. and Europeans benefit from the weak U.S. dollar. Rates are up 13.2 percent in the U.S.V.I. and ADR has reached $437.02 for the quarter. Asian destinations are facing security concerns. In Phuket, rates are again rising as memories of the Asian tsunami of 2004 fade in the minds of travelers. One fact remains in common: all of our varied locations have increased RevPAR by nearly 5 percent or more. Luxury vacationers are still traveling and spending money in their favorite tropical paradises. Who can blame them? T Occupancy: Luxury and upper-upscale class hotels in select world markets First Quarter Percent 2008 Change Maldives Florida Keys, U.S. Phuket, Thailand Oahu, Hawaii, U.S. Costa Rica U.S. Virgin Islands Bali, Indonesia 86.8% 82.2% 80.4% 79.6% 77.6% 77.3% 75.7% 72.8% French Polynesia 49.1% 3.0% 6.0% -2.9% 6.5% 2.2% -6.1% -1.2% 33.8% 5.6% -6.4% San Juan, Puerto Rico 79.9% Yucatan Peninsula, Mexico Average Daily Rate (USD): Luxury and upper-upscale class hotels in select world markets First Quarter Percent 2008 Change Maldives U.S. Virgin Islands Florida Keys French Polynesia Costa Rica Oahu, Hawaii, U.S. Phuket, Thailand $815.21 $437.02 $340.03 $309.35 $268.38 $233.11 $231.24 $208.63 Bali, Indonesia SMITH TRAVEL RESEARCH 24.6% 13.2% 0.0% 12.5% 2.2% -8.8% 4.6% 19.4% -0.8% 12.9% San Juan, Puerto Rico $280.83 Yucatan Peninsula, Mexico $124.22 Luxury Hotelier | June 2008 | www.LuxuryHotelier.com http://www.LuxuryHotelier.com

Table of Contents Feed for the Digital Edition of Luxury Hotelier - June 2008

Luxury Hotelier - June 2008 Contents Editor's Letter Inform Journal Network Personalities Insight: Smith Travel Research/The Bench Properties Insight: Ecole hôtelière de Lausanne Inspire Deliver Protocols Insight: HotelWorld Innovate Development Indulge Advertisers Index Editorial Index Source Listing Dossier

Luxury Hotelier - June 2008

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