New Consumer Goods research report from Euromonitor International is now available from Fast Market Research
PR-Inside.com: 2014-08-15 09:34:38
The number of bed nights in hotels decreased by 1% in 2013 to 20 million. Total sales of hotel accommodation also decreased by 1% in current value terms. This was in stark contrast to 2012, when unit prices increased strongly in current terms and current value growth of 4% was recorded. The key reason for the current value decline was the drop in the number of bed nights by domestic tourists. Domestic bed nights decreased, while nights for inbound tourists in hotels remained moderately positive thanks to a growing number of stays by Russian tourists.
Hotels is set to grow at a CAGR of 1% at constant 2013 prices over the forecast period, which is a notably better performance than the decline at a CAGR of 2% at constant 2013 prices recorded during the review period. The review period performance was negatively affected by poor results in both 2009 and 2013. During the forecast period, a decline is also expected in 2014, but from 2015 onwards, sales are expected to grow again at constant 2013 prices. Hotels have been very sensitive to economic fluctuations, and value sales have usually been more affected by volume sales. This is also expected to happen in 2014. It is likely that hotel owners will meet falling demand with price-based promotions in 2014. Later on during the forecast period, the average unit price is set to start to recover. It is likely that those brands that offer more-customised products will be most successful when the economic situation starts to improve, and when consumers look for travel accommodation that meets the specific needs they have; however, Finns are quite price-sensitive when it comes to domestic travel accommodation. As a result, even if services are more in demand, prices will need to remain competitive. This of course favours large chains that can achieve economies of scale, while independent hotels may struggle during the forecast period.
Full Report Details at
Discover the latest market trends and uncover sources of future market growth for the Travel Accommodation industry in Finland with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Travel Accommodation industry in Finland, our research will save you time and money while empowering you to make informed, profitable decisions.
The Travel Accommodation in Finland market research report includes:
* Analysis of key supply-side and demand trends
* Detailed segmentation
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth
* Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
* What is the market size of Travel Accommodation in Finland?
* What are the major brands in Finland?
* What is the rate of development for chained hotels vs independent hotels?
* How are luxury hotels performing compared to mid-priced and budget hotels?
* Is there an increase in hostels and campsites?
Reasons to Get this Report
* Gain competitive intelligence about market leaders
* Track key industry trends, opportunities and threats
* Inform your marketing, brand, strategy and market development, sales and supply functions
Product coverage: Travel Accommodation by Category, Travel Accommodation by Channel.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
About Euromonitor International
Euromonitor International is a world leading independent provider of business intelligence on industries, countries and consumers. Their business intelligence products include award-winning online information databases, market reports and business reference books. Founded in 1972, Euromonitor International is a privately owned company with offices in London, Chicago, Singapore, Shanghai and Vilnius. Euromonitor has a team of over 600 in-country analysts worldwide, giving them a unique capability to deliver high quality and reliable business information. View more research from Euromonitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1009
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