Luxury Hotelier - September 2007 - (Page 28) 28| Insight Smith Travel Research | The Bench High occupancies in major locations fuel rate growth in upscale markets s the summer travel season leads into autumn, luxury hotel operators are taking full advantage of prolonged positive global economics. Average daily rates surpassed $300 in four markets during the year ending in June, up from just one market a year ago. The ADR leader, then and now, is New York City, where operators were able to increase their average rate by 11 percent to $335. Breaking $300 for the first time is Dubai, where we observed a stunning rate growth of more than 40 percent compared with last year. Occupancy growth was fairly moderate in the year endSMITH ing in June, and only London TRAVEL RESEARCH recorded positive occupancy percent change of more than Smith Travel 4 percent. Out of our sample Research is a of 10 cities, five markets’ ocleading information and data provider for cupancy decreased compared the lodging industry. with last year. New York City Visit www.smith now is the occupancy leader travelresearch.com. with 84.3 percent, surpassing Hong Kong’s occupancy of 82.2 percent. It is worth noting that in our sample, occupancy in nine cities was upward of 70 percent, further proof of the strength of the lodging industry. Overall, the major hotel centers of the world continue to report fairly high occupancies, fueling very strong rate growth in the upper end of the market. We will continue to report on the performance of these markets and the trends that emerge. A Occupancy: Luxury chains, upper-upscale chains and luxury independents for select markets. London had the largest change with a 3.3-percent increase. 2007 Tokyo Rome Paris New York Mumbai Miami Los Angeles London Hong Kong Dubai 80.6% 71.7% 73.5% 84.3% 74.7% 69.1% 75.5% 79.8% 82.2% 83.0% 2006 81.3% 73.6% 71.1% 83.7% 73.5% 71.5% 75.8% 76.5% 84.3% 81.3% Average daily rate: Luxury chains, upper-upscale chains and luxury independents for select markets. New York had the highest ADR. 2007 Tokyo Rome Paris New York Mumbai Miami Los Angeles London Hong Kong Dubai $189.58 $261.38 $309.09 $335.56 $230.71 $261.72 $179.44 $318.92 $204.40 $301.41 2006 $177.26 $232.28 $276.81 $302.84 $159.86 $238.24 $165.64 $262.81 $159.87 $277.52 Luxury Hotelier | September 2007 | www.LuxuryHotelier.com http://travelresearch.com http://www.LuxuryHotelier.com
Table of Contents Feed for the Digital Edition of Luxury Hotelier - September 2007 EDITOR’S LETTER PUBLISHER’S LETTER INFORM NETWORK PERSONALITIES INSIGHT INSIGHT PROPERTIES ROPERTIES INSPIRE DELIVER PROTOCOLS INSIGHT INNOVATE DEVELOPMENT INDULGE INSIGHT CONNECT UPDATE DOSSIER Luxury Hotelier - September 2007 Luxury Hotelier - September 2007 - (Page Cover1) Luxury Hotelier - September 2007 - (Page Cover2) Luxury Hotelier - September 2007 - (Page 1) Luxury Hotelier - September 2007 - (Page 2) Luxury Hotelier - September 2007 - (Page 3) Luxury Hotelier - September 2007 - EDITOR’S LETTER (Page 4) Luxury Hotelier - September 2007 - EDITOR’S LETTER (Page 5) Luxury Hotelier - September 2007 - PUBLISHER’S LETTER (Page 6) Luxury Hotelier - September 2007 - PUBLISHER’S LETTER (Page 7) Luxury Hotelier - September 2007 - INFORM (Page 8) Luxury Hotelier - September 2007 - INFORM (Page 9) Luxury Hotelier - September 2007 - INFORM (Page 10) Luxury Hotelier - September 2007 - INFORM (Page 11) Luxury Hotelier - September 2007 - INFORM (Page 12) Luxury Hotelier - September 2007 - INFORM (Page 13) Luxury Hotelier - September 2007 - NETWORK (Page 14) Luxury Hotelier - September 2007 - NETWORK (Page 15) Luxury Hotelier - September 2007 - NETWORK (Page 16) Luxury Hotelier - September 2007 - NETWORK (Page 17) Luxury Hotelier - September 2007 - PERSONALITIES (Page 18) Luxury Hotelier - September 2007 - PERSONALITIES (Page 19) Luxury Hotelier - September 2007 - PERSONALITIES (Page 20) Luxury Hotelier - September 2007 - PERSONALITIES (Page 21) Luxury Hotelier - September 2007 - PERSONALITIES (Page 22) Luxury Hotelier - September 2007 - PERSONALITIES (Page 23) Luxury Hotelier - September 2007 - PERSONALITIES (Page 24) Luxury Hotelier - September 2007 - PERSONALITIES (Page 25) Luxury Hotelier - September 2007 - PERSONALITIES (Page 26) Luxury Hotelier - September 2007 - PERSONALITIES (Page 27) Luxury Hotelier - September 2007 - INSIGHT (Page 28) Luxury Hotelier - September 2007 - INSIGHT (Page 29) Luxury Hotelier - September 2007 - INSIGHT (Page 30) Luxury Hotelier - September 2007 - INSIGHT (Page 31) Luxury Hotelier - September 2007 - PROPERTIES (Page 32) Luxury Hotelier - September 2007 - PROPERTIES (Page 33) Luxury Hotelier - September 2007 - PROPERTIES (Page 34) Luxury Hotelier - September 2007 - PROPERTIES (Page 35) Luxury Hotelier - September 2007 - PROPERTIES (Page 36) Luxury Hotelier - September 2007 - PROPERTIES (Page 37) Luxury Hotelier - September 2007 - ROPERTIES (Page 38) Luxury Hotelier - September 2007 - ROPERTIES (Page 39) Luxury Hotelier - September 2007 - INSPIRE (Page 40) Luxury Hotelier - September 2007 - INSPIRE (Page 41) Luxury Hotelier - September 2007 - INSPIRE (Page 42) Luxury Hotelier - September 2007 - INSPIRE (Page 43) Luxury Hotelier - September 2007 - DELIVER (Page 44) Luxury Hotelier - September 2007 - DELIVER (Page 45) Luxury Hotelier - September 2007 - DELIVER (Page 46) Luxury Hotelier - September 2007 - DELIVER (Page 47) Luxury Hotelier - September 2007 - PROTOCOLS (Page 48) Luxury Hotelier - September 2007 - PROTOCOLS (Page 49) Luxury Hotelier - September 2007 - PROTOCOLS (Page 50) Luxury Hotelier - September 2007 - PROTOCOLS (Page 51) Luxury Hotelier - September 2007 - INSIGHT (Page 52) Luxury Hotelier - September 2007 - INSIGHT (Page 53) Luxury Hotelier - September 2007 - INSIGHT (Page 54) Luxury Hotelier - September 2007 - INSIGHT (Page 55) Luxury Hotelier - September 2007 - INNOVATE (Page 56) Luxury Hotelier - September 2007 - INNOVATE (Page 57) Luxury Hotelier - September 2007 - DEVELOPMENT (Page 58) Luxury Hotelier - September 2007 - DEVELOPMENT (Page 59) Luxury Hotelier - September 2007 - DEVELOPMENT (Page 60) Luxury Hotelier - September 2007 - DEVELOPMENT (Page 61) Luxury Hotelier - September 2007 - INDULGE (Page 62) Luxury Hotelier - September 2007 - INDULGE (Page 63) Luxury Hotelier - September 2007 - INDULGE (Page 64) Luxury Hotelier - September 2007 - INSIGHT (Page 65) Luxury Hotelier - September 2007 - CONNECT (Page 66) Luxury Hotelier - September 2007 - CONNECT (Page 67) Luxury Hotelier - September 2007 - UPDATE (Page 68) Luxury Hotelier - September 2007 - UPDATE (Page 69) Luxury Hotelier - September 2007 - UPDATE (Page 70) Luxury Hotelier - September 2007 - UPDATE (Page 71) Luxury Hotelier - September 2007 - DOSSIER (Page 72) Luxury Hotelier - September 2007 - DOSSIER (Page 73) Luxury Hotelier - September 2007 - DOSSIER (Page 74)
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