South Korea Annual Study 2020
By Robert Hecker on July 8, 2020
Drawing on our diverse experience and research capabilities, Horwath HTL publishes a variety of studies that assist in analyzing today’s dynamic hotel and tourism markets. Published on an annual basis, these studies survey the overall financial and operational performance for hotel markets in key countries around the world, including South Korea.
Conducted in cooperation with local tourism organizations and hotel associations, the surveys enjoy a high participation rate from properties of varying sizes, brands, and quality level. Data is collected, compiled, analyzed, and presented by relevant and meaningful industry standards of comparison, including segmented categories based on achieved average daily room rate, hotel room count and location.
Key sections in the study include:
- Detailed departmental revenue, expenses and profitability ratios by rate, size, and location categories.
- Key marketing statistics, including market mix guest profiles, and reservation/sales sources.
- Other information pertinent to individual destination markets, such as labor cost/productivity and food and beverage operation statistics.
Based on the Uniform System of Accounts for the Lodging Industry, Horwath HTL Hotel Industry Survey of Operations not only tracks the operating and financial characteristics of specific hotel markets, but also sets consistent standards for benchmarking as a management tool for measuring and improving individual property performances by providing an invaluable source of industry information that would otherwise be difficult to obtain.