Micro market analysis best for MENA says MKG
Leading tourism and hotel experts, MKG advised the Middle East & North African (MENA) industry that micro market analyses are a lot more relevant for understanding the region’s hotel cycle.
“Based on over 20 years experiences and comprehensive data on hotel industry, our analysis division has shown that the MENA region differs to other more mature markets, such as Western Europe and North America, being less reliable to make forecast on a macro level. Mature markets are more predictable, as they are more related to other economic indicators,” explains Director of Operations, MKG Hospitality, Vanguelis Panayotis.
According to MKG Hospitality, a mature market is defined by a balance between hotel category supply, a significant corporate chain hotel penetration rate and well balanced clientele, between leisure, business, international and domestic markets, among other aspects. Although hotel chains have a relatively high penetration rate in the MENA region, it is heavily unbalanced, leaning towards the upscale segment. The region also lacks a good amounts of budget hotels, although new pipeline projects from Accor and Rotana show that this is on the way to improving.
“In order to have this clientele spread, the region must diversify its supply offer, with more midscale and budget products to offer alternatives during a recession period, as well as develop new market segments,” adds Vanguelis.
Kick-starting this year’s HOTEC Middle East panel discussions, sustaining the Middle Eastern hotel industry through the current Economic Crisis, Vanguelis Panayotis detailed the company’s research into the actual financial impact of the crisis and hotel cycles in the region, then demonstrated how to use economic statistics and hotel performance indicators to predict the next cycle and trends.
HOTEC Middle East 2009, held at InterContinental Aphrodite Hills, Cyprus offered a good barometer from a supplier’s point-of-view, indicating a degree of market confidence during this difficult period and that many hotel developments in the region are still going ahead. This year had over 72 suppliers, 65 buyer delegates and over 1,200 meetings conducted.
“The event exceeded our expectations. All the delegates we have spoken to were very positive about their experience at the event. Despite concerns about the recession, HOTEC Middle East was able to attract great attendance and generate quality discussions about upcoming projects and supply pipeline,” concluded Delegate Manager, Mclean Events International, Debbie Wilson.
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For further information, please contact:
Media
MKG Group
Tel: +357 22 44 23 21
Fax: +357 22 31 30 23
E: press@mkg-group.com
Web: www.mkg-group.com
Database Department
MKG Hospitality
Tel: +33 1 56 56 87 87
Fax: +33 1 56 56 87 88
E: bdd@mkg-hospitality.com
Web: www.mkg-hospitality.com
About MKG Group
Established in 1985, MKG Group has built a reputation for solid business expertise and substantial know-how in the fields of tourism, lodging and food service. MKG Group meets the needs of each of its clients by providing the valuable analytical and decision-making skills necessary for success. www.mkg-group.com
Methodology & Innovation
With a team of over 60 experienced consultants, as well as advanced research and analytical tools and applications, MKG Hospitality provides unique savoir-faire in four major areas of expertise: Market Research; Financial Feasibility Studies; Consulting; and Sector publications.
MKG Hospitality is a global leader in tourism, hotel and catering consulting, with the largest database in the world (outside the US), representing all segments from budget to upscale hotels. MKG’s customised database, Hotel CompSet, contains a sample of over 200 brands and 11,000 corporate chain hotels, representing more than one million rooms. Hotel CompSet provides daily, monthly and yearly monitoring of hotel indicators and analyses of its sample. www.hotelcompset.com
Together with other specialised brands, MKG Qualiting, OlaKala, Worldwide Hospitality Awards, Global Lodging Forum, HTR Magazine and Hotel Restau Hedbo, MKG Group supports investors, hoteliers and key tourism players improve performance, boost productivity and achieve optimal results.
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