Boston, MA -- (ReleaseWire) -- 06/13/2014 -- The performance of both hotels and other accommodation improved in 2012. Current value sales posted by hotels rose by 1% in 2012 and by other accommodation by 2%. Total travel accommodation saw retail value sales growth of 1% in 2012 and reached CZK36.5 billion. Revival of both incoming and domestic tourism volume numbers has been the most important factor impacting the category.
Travel accommodation remains fragmented. The number of accommodation outlets moreover increased by nearly 2% in 2012, at the same pace as hotels as well as other travel accommodation. The majority of operators run only one outlet and therefore only a few large chained hotels hold a share of total value sales bigger than 2%. The ranking of the top companies remained the same in 2012 as in previous year with no major entrants to the Czech accommodation market over the review period.
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The increase in tourist flows will continue to positively influence revenues from travel accommodation over the forecast period. Travel accommodation retail value sales are expected to see an 8% increase (at constant 2012 prices) towards 2017. Total value sales increase will be also supported by the increased VAT that became effective in 2013. The main trend over the forecast period is expected to be a further increase in the share of chained hotels, whilst independent competitors are expected to show stagnation.
Discover the latest market trends and uncover sources of future market growth for the Travel Accommodation industry in Czech Republic with research from Euromonitor's team of in-country analysts.
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If you're in the Travel Accommodation industry in Czech Republic, our research will save you time and money while empowering you to make informed, profitable decisions.
The Travel Accommodation in Czech Republic 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 Czech Republic?
- What are the major brands in Czech Republic?
- 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?
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