BERMUDA TOURISM AUTHORITY ANNOUNCES PERFORMANCE METRICS

Posted by on Mar 27, 2014 in Local News & Alerts | 0 comments

Bermuda Tourism Authority (BTA) today announces the most recent performance metrics. In abiding by its commitment to provide information, readers will note the broader scope of important data that is being monitored and communicated to the public and stakeholders on a continuous basis.

Hotel Performance Metrics

  • Total rooms on the books for the next six months are up 6.8 per cent versus the same time last year and up 12.2 per cent over the next 12 months versus last year.
  • Group rooms on the books for the next six months are up 8.2 per cent from last year and are up 19.8 per cent for the next 12 months versus last year.
  • Individual rooms on the books for the next six months are up 5.9 per cent from last year and are up 7.5 per cent for the next 12 months versus last year.

 Source: Hotel Pace Report February 2014

Hotel Revenue Metrics

The Smith Travel Research destination report measures hotel performance on occupancy, average daily rate and revenue per available room (RevPAR).  RevPAR is a good indication of hotel performance because it combines the hotel’s occupancy with its average daily rate (ADR).

January and February’s reports showed continued growth in occupancy, ADR and RevPAR.

Occupancy – percentage of rooms occupied

For January 2014, hotel occupancy was up 7.7 per cent (31.5 per cent compared with 29.2 per cent in January 2013).

For February, 2014, hotel occupancy was up 1.1 per cent (34.2 per cent compared with 33.8 per cent in February 2013).

Year-to-date hotel occupancy is up 4.3 per cent over this time last year.

Average Daily Rate (ADR) - Room revenue divided by rooms sold, displayed as the average rental rate for a single room.

January 2014 ADR was up 3.7 per cent compared with January 2013. February 2014 ADR was up 5.9 per cent compared with February 2013. Year-to-date the ADR is up 4.7 per cent over 2013.

RevPAR (Revenue per Available Room) – Room revenue divided by rooms available.

RevPAR for January 2014 increased 11.7 per cent compared with January 2013. RevPAR for February 2014 increased by 7.1 per cent compared with February 2013.

Year-to-date RevPAR is up 9.2 per cent over 2013.

Source: Smith’s Travel Research Bermuda Report February 2014, which measures a sample of 76 per cent of rooms on the island.

Visitor Air Arrivals

Visitor air arrivals for January 2014 were 7,046, which is down 2.3 per cent from the previous year. Air arrivals for February 2014 are 8,910, an increase of 1.5 per cent from the previous year.

Year-to-date visitor air arrivals are down 0.2 per cent from 2013.

Air Capacity and Load

Through the end of February 2014, airline capacity is up 2.1 per cent year-to-date over 2013.  Load (percentage of seats filled) is down 1.8 per cent from 2013.

It is important to note that these figures represent all traveller types and are not specific to tourism.

Year End 2013 Statistics

Visitor Expenditure

In 2013, air visitor expenditure ranged from $977-$1,337 per person, down from $1,079-$1,342 per person in 2012.

In 2013, cruise visitor expenditure ranged from $112-$124 per person, down from $119-$203 per person in 2012.

Average Length of Stay

The average length of stay for air visitors in 2013 was 5.3 nights.  This is down from 5.4 nights in 2012.

Leisure Visitor Satisfaction Index

Based on 11 satisfaction indicators from the Air Exit surveys, the Leisure Visitor Satisfaction Index for 2013 is 87.9 per cent.   This is an increase from the score of 86.8 in 2012. The indicators used to calculate this include overall satisfaction, satisfaction with certain experiential factors, safety, quality of accommodations, transportation and value.

Based on the Cruise Passenger Satisfaction Index for Dockyard, which was calculated using satisfaction indicators from the Cruise Exit Surveys, the Cruise Visitor Satisfaction Index for 2013 is 87 per cent, an increase from 86.6 per cent in 2012.  The indicators used to calculate this include overall satisfaction with visit, satisfaction with experiential factors, transportation and safety.

Bill Hanbury, CEO, Bermuda Tourism Authority, says: “The February hotel revenue metrics, Pace Report and the Leisure Visitor Satisfaction Indices are encouraging. While these figures show movement in the right direction, we still have a long way to go regarding meaningful growth in the industry.  Visitor expenditure, for example, has dropped and, as the BTA moves into full gear, we will be looking at strategies to improve our product and the visitor experience in order to improve on these numbers.”

The BTA is reviewing a wide cross section of pertinent data. No single metric, historically arrivals, represents the true story of how tourism is performing. Only after viewing the full set of data, can we know the true status of the industry and understand how to achieve the stated goals of the BTA which include; increasing tourism’s contribution to the Bermuda economy, increasing jobs and job duration in the industry and helping our hotels towards a sustainable and profitable model.

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