Youth travel accommodation bucks global trends by increasing revenues
STAY WYSE, the association for youth travel accommodation, will be publishing the results of its annual industry survey on September 19.
STAY WYSE, the association for youth travel accommodation, will be publishing the results of its annual industry survey on September 19. This 68-page document includes regional breakdowns for revenue per available bed (RevPAB) and also for the following countries: United States, United Kingdom, Australia, South Africa, Mexico, and Thailand.
Globally it was found that the revenue per available bed (RevPAB) was almost €24 in 2011, a growth of almost 5% compared with 2010. However, the findings also showed that RevPAB figures fell considerably in Australia as a result of tougher market conditions.
Mikael Hansson, CEO of Hostelling International, and STAY WYSE board member, said today: “These findings reveal that the industry has navigated the financial crisis reasonably successfully. In spite of growing economic and competitive pressure, there are a number of key indicators, such as RevPAB and occupancy rates, which confirm the basic health of the youth travel accommodation industry.”
The survey of nearly 2,200 YTA establishments worldwide has become particularly important, because it is the only global indicator of the state of the YTA sector, and because it seeks to provide concrete business metrics that allow operators to benchmark their own performance against global and regional standards.
The aims of the study are:
-To collect data for the purpose of identifying trends and making relative comparisons.
-Provide guidance to youth travel accommodation providers in assessing their business performance, cost effectiveness, revenues, and expenses relative to the industry standard.
-To enable youth travel accommodation operators to benchmark their business characteristics in order to develop strategic concepts and optimize business outcomes.
-To help youth travel accommodation providers to develop business plans and help guide investment decisions.
STAY WYSE would like to thank all it’s sponsors for supporting this project, in particular MasterCard Worldwide, NYC & Company, Generator Hostels, and the International Student Identity Card. For a full list of sponsors please go to http://staywyse.org/research/our-sponsors/ .
Detailed findings of the survey will be released during the STAY WYSE seminar at the World Youth & Student Travel Conference, Wednesday, September 19 at 10:45 am at the Sheraton San Diego Bay Hotel.