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Click. daily update: European hotel market suffers profit decline

Each day, we curate a bite-sized round-up of the best industry news from across the world. We search the web for the latest hospitality updates and travel trends, so you don’t have to. Get comfortable with a coffee and tuck in to our daily must-reads

by Nicola Donovan, Click. Travel Writer, Booking.com

Topic: News

Click. Takeaway

Here are four of today’s most interesting reads to keep you in-the-know

1. European hotels suffer profit decline in December

The hotel market in Europe suffered a 2.7% YOY decline in profit per room in December 2018, according to data from HotStats. The decrease failed to erase annual profit gains in Europe, however, with the annual GOPPAR rising 9.2% – following a 8.9% increase in 2017 and marking a second consecutive year of gains for the continent.

Source: www.traveldailynews.com

2. Egypt opens new international airport

Egypt has opened a new international airport in Giza for an initial trial period to help ease pressure from Cairo’s main airport and boost tourism. The Sphinx International Airport, located near the Giza Pyramids, is expected to operate 30 flights during its trial run in early February, before fully opening in 2020.

Source: www.hospitalityireland.com

3. Hilton reveals plans to expand Saudi Arabia footprint

Hilton has revealed plans to add more than 10,000 hotel rooms in Saudi Arabia over the next three to five years. At the Saudi Hotel Investment Conference, the chain confirmed that the kingdom currently has the largest number of Hilton hotels in development in the MENA region.

Source: www.arabianbusiness.com

4. Hotel rates set a record in the Caribbean in 2018

Despite last year’s hotel occupancy levels being the lowest in the Caribbean since 2012, the ADR was the highest for any year on record – rising 1.7% to US$207.61 – according to data from STR. December produced the highest ADR (US$262.97) while September was the lowest month for hotel occupancy.

Source: www.travelweekly.com

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Nicola Donovan is a travel writer for Click.

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