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19 March 2010
Ernst & Young Hospitality and leisure outlook Europe, Middle East, India and Africa
 2009 has gone into the history books as one of the worst for the hotel industry. Revenue per average room (RevPAR) practically collapsed as travelers stayed away. Companies reined in travel expenditure and tourists stayed at home. Business is suffering against all measures and we have seen hotel stocks fall in value around the world. Despite this, hotel closures and large-scale forced sales of distressed assets have not materialized in the Europe, Middle East, India and Africa (EMEIA) region in any great number. Cash-rich funds continue to wait in the belief that the bottom of the market has not yet been reached. Similar trends are also being experienced in other regions of the world.
CONTACT
Christiane Fiack
Phone: +49 6196 996 26347
Email: christiane.fiack@de.ey.com
ORGANIZATION
 Ernst & Young Hospitality Services Group
http://www.ey.com/us/realestate
725 South Figueroa Street 5th Floor
USA
- Los Angeles, CA 90017-5418
Phone: (213) 977 3200
Fax: (213) 977 3398
RECENT NEWS
Friday 19 March 2010 | 2009 has gone into the history books as one of the worst for the hotel industry. Revenue per average room (RevPAR) practically collapsed as travelers stayed away. Companies reined in travel expenditure and tourists stayed at home. Business is suffering against all measures and we have seen hotel stocks fall in value around the world.
Tuesday 7 April 2009 | Hotel owners and management companies are accelerating efforts to fortify cash positions in a bid to survive the current downturn and to strategically position their businesses for mid-term and long-term growth, according to a survey by Ernst & Young LLP.
Tuesday 10 February 2009 | The credit crunch, an increased focus on cost containment and the bottom line, leveraging brand recognition through the internet, globalization and green building are ranked at the top of the list. Discover which 10 trends are giving way to new order in the hospitality sector.
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