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
1. International travel outperforming economic growth
The number of outbound trips in 2018 increased by 5.5%, according to IPK’s World Travel Monitor, with the global economy growing by only 3.7% in comparison. Considering a slowing world economy, a slightly lower growth rate is expected for international travel in 2019.
2. Spain remains top location for hotel real estate investment
According Tranio’s international investor sentiment survey, Spain remains the most appealing destination in Europe for hotel real estate investment. The country was closely followed by Germany in second spot and Italy in third. Of the respondents, 71% work with an average level of investment higher than €10m, with the most popular investment strategies in the European hospitality market including value-add and core-plus.
3. Abu Dhabi breaks visitor number records
In 2018, Abu Dhabi welcomed more than 10 million international visitors. The UAE capital has witnessed a 13.6% increase in hotel guests since the beginning of 2016, a 3.94% increased compared to 2017 alone. Cruise passengers to Abu Dhabi have also increased 28%, with 354,015 arrivals last year compared with 279,704 in 2016.
4. Mexico sees significant increase in hotel investment
Mexico’s lodging market has seen a 26% transaction volume increase YOY, according to a study from JLL. Total transaction volume at year-end 2018 reached US$980m, a 26% increase over the previous year. Additionally, 2018 recorded a price-per-key average of US$466,00 – the highest annual average in the past 10 years.
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Nicola Donovan is a travel writer for Click.More by Nicola Donovan
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