Swiss hoteliers expect declining revenue and occupancy rates at the end of 2011. The hospitality industry stakeholders are not very optimistic about the next six months either.
The fourth quarter of 2011 does not look very positive – at least for the Swiss hospitality industry professionals who expect considerable decline. The decrease should affect both catering and accommodation facilities according to a recent survey by KOF Economic Institute.
The researchers focused on falling sales in the hospitality industry. The results show that a third of hoteliers, restaurant owners and catering managers expect constant decline at the end of this year, reported Htr.ch. A half of the survey respondents stated that they expect decreasing revenues in the next six months.
The average turnover in Q3 declined by 6.4% compared to the third quarter of 2010. 60% of the respondents reported a decrease in demand for overnight stays and catering services.
The hoteliers and providers of catering companies are forced to reduce the amount of staff in the following 6 months. The prices for hotel beds are also expected to go down.
The summer months already showed considerable decline of the demand for accommodation services. July to October recorded a decrease in demand of 6.8% in comparison to summer 2010. Among the most affected facilities are 2 and 5 star hotels. These hotels also recorded the lowest occupancy rate of 57%.
