Published on February 26, 2014
BRIC MARKETS FOCUS. © Digital Luxury Group, SA 26
BRAZIL - BRIC FOCUS. Top 10 Hotels Vs. Global Hilton = Sheraton = Soﬁtel +10 InterContinental +6 Renaissance +4 Royal Tulip +48 Hyae Regency -‐‑1 Grand Hyae +6 JW Marrioe +3 Hyae -‐‑5 #1 #2 #3 #4 #5 #6 #7 #8 #9 #10 Brazil Top 10 Fastest Growing Hotels Brazil -‐12.1% Fairmont +6.8% Rosewood +8.3% Andaz +11.1% Mandarin Oriental +11.7% Embassy Suites Aﬃnia +15.9% +18.1% Loews +19.1% W Hotel St. Regis +25.0% +33.9% Shangri-‐‑La +72.0% Global +76.2% +75.0% Top Local Destinations +9.9% Rio de Janeiro Sao Paulo Brasilia Curitiba +20.5% +15.1% Top International Destinations Miami New York Buenos Aires Cancun Orlando +3.3% Luxury Major Luxury Exclusive © Digital Luxury Group, SA Upper Upscale 28
BRAZIL - BRIC FOCUS. § The Brazilian hotel market is extremely fragmented, with most hotels operated independently. According to JLLH, while there is one brand-‐‑aﬃliated hotel room for every 100 residents in the US, in Brazil, the ratio is closer to one branded hotel room for every 2,800 residents. In July 2012, Accor is clearly the leading chain in Brazil. § Strong economic performance, favorable exchange rates boost outbound travels ﬂows in 2011. 5.4 million outbound departures have been registered in 2011 – increasing by +2%. § Brazil presents enormous opportunities for boosting future arrivals to the US in the short term. A new pilot program and rule changes for visa processing were announced. In January 2012 President Obama signed an Executive Order aimed at increasing the visa processing capacity by an additional 40% in 2012. © Digital Luxury Group, SA Mintel The Rise of The BRICs March 2013 Source: Euromonitor International, Tourism Flows Outbound in China, Mars 2012. 29
RUSSIA - BRIC FOCUS. Top 10 Hotels #1 #2 #3 #4 #5 #6 #7 #8 #9 #10 Hilton Renaissance Kempinski Sheraton InterContinental Jumeirah Le Méridien Four Seasons Rii-‐‑Carlton Soﬁtel Russia Vs. Global = +7 +19 -‐‑2 +5 +18 +12 -‐‑4 -‐‑2 +3 Russia Nikko Radisson Blu hotel Top 10 Fastest Growing Hotels +12.8% +20.2% +21.6% Taj hotel +26.7% Jumeirah +26.8% W hotel Angsana Shangri-‐‑La +30.5% +35.3% +57.9% Grand Hyae +69.7% Le Méridien +69.8% Hyae Regency +89.9% Global +76.8% +76.2% Top Local Destinations Moscow Gelendzhik Saint Petersburg Novosibirsk Perm +22.2% +20.5% Top International Destinations Hurghada Dubai Phuket Sharm el-‐‑Sheikh Paris +1.0% +3.3% Luxury Major Luxury Exclusive © Digital Luxury Group, SA Upper Upscale 30
RUSSIA - BRIC FOCUS. § According to Smith Travel Research Global, there are a total of only 550 hotels (mid-‐‑ to upscale and luxury hotels), with 83,127 rooms in Russia. Of this total, 145 properties with 36,542 rooms are to be found in Moscow. § The number of domestic trips in Russia increased by +3% in 2011. § 41 million Russians outbound departures have been registered in 2011 – increasing by +11%. § Egypt has traditionally been one of the most popular outbound destination for Russian tourists but due to political instability, they have started to go to Thailand, UAE, Spain, Italy and Turkey. § Visa application procedure (Estonia), direct ﬂights from St Petersburg, Moscow and other second-‐‑tier cities (Spain) are a useful way to increase the Russian travelers to outbound destinations. © Digital Luxury Group, SA Source: Euromonitor International, Tourism Flows Outbound in Russia, August 2012. Euromonitor International, Tourism Flows Domestic in Russia, August 2012. 31
INDIA - BRIC FOCUS. Top 10 Hotels Taj Hotel Oberoi Hilton Vivanta by Taj Le Méridien Sheraton JW Marioe Grand Hyae Hyae Westin #1 #2 #3 #4 #5 #6 #7 #8 #9 #10 India Vs. Global +24 +29 -‐‑2 +32 +14 -‐‑4 +5 +6 -‐‑4 -‐‑7 Top 10 Fastest Growing Hotels India +3.0% Oberoi Vivanta by Taj +13.5% +14.3% Hilton Anantara The Leela Banyan Tree +16.7% +17.7% +19.4% +22.8% Dusit Jumeirah Fairmont +26.1% +29.5% +40.7% Rii-‐‑Carlton +59.0% Global +76.2% +55.0% +44.3% +20.5% +0.7% Top Local Destinations Mumbai New Delhi Goa Bangalore Chennai Top International Destinations Dubai Singapore Mauritius Bangkok Maldives +3.3% Luxury Major Luxury Exclusive © Digital Luxury Group, SA Upper Upscale 32
INDIA - BRIC FOCUS. § There are 88 hotels with a total of 18,835 rooms in India, which are either rated ﬁve-‐‑star deluxe by the Ministry of Tourism (MOT) or are members of the international luxury hotels consortium. § Domestic tourism continued to grow signiﬁcantly in 2011 (+10% growth compared to 2010), driven by the increased holidaying trend and rising disposable incomes. Domestic tourists have started to spend more on luxury products compared with the review period expenditure. § 13 million outbound departures have been registered in 2011 – Increasing by +11%. Forecasts show an estimated 25 million by 2016. § Airline companies and travel agencies are pueing eﬀorts to oﬀer be^er travel experiences, through direct ﬂights to Dubai, Singapore and Bangkok. © Digital Luxury Group, SA Source: Euromonitor International, Tourism Flows Outbound in India, March 2012. Euromonitor International, Tourism Flows Domectic in India, March 2012. Mintel Indian luxury Hotel Sector, February 2012 33
CHINA - BRIC FOCUS. Top 10 Hotels #1 #2 #3 #4 #5 #6 #7 #8 #9 #10 Sheraton Hilton InterContinental Shangri-‐‑La Westin Four Seasons Renaissance Hyae Regency Nikko Rii-‐‑Carlton China Vs. Global +1 -‐‑1 +7 +12 -‐‑2 -‐‑2 +2 -‐‑2 +18 -‐‑3 China +3.3% Soﬁtel Langham Wyndham Fairmont Banyan Tree Le Méridien +22.8% Top 10 Fastest Growing Hotels +29.2% +30.9% +34.9% +42.0% +45.3% Mandarin Oriental +49.1% Grand Hyae +49.3% Kempinski +50.0% St. Regis +56.4% Global +76.2% +62.7% Top Local Destinations Shanghai Beijing Tianjin Shenzhen Hangzhou +35.4% +20.5% Top International Destinations Hong Kong Singapore Maldives Bangkok Guam +1.9% +3.3% Luxury Major Luxury Exclusive © Digital Luxury Group, SA Upper Upscale 34
CHINA - BRIC FOCUS. § Upscale and luxury have remained constant as a share of total hotels in China ( +8% on average progression 2003-‐‑2010). § Air-‐‑transport capacity at China’s airports grew by +15% over the summer of 2012, pueing it well ahead of the rest of Asia. § The number of domestic travelers is forecasted to increase by over +25% from the current level to reach 3.3 billion by 2015. § The World Tourism Organization projects that by 2020, 100 million Chinese tourists will make their way abroad annually. § Chinese consumers preferred to travel abroad as they viewed such trips as a form of reward for their work during the year. 39 million outbound departures have been registered in 2011 – Increasing by +14%. © Digital Luxury Group, SA Source: Euromonitor International, Tourism Flows Outbound in China, March 2012. Mintel The rise of the BRICs-‐‑ 35
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