As at 31 Jan 2019 the city ended at 54% occ after gaining 17% in occ during the month. The rate however dropped by 6% during the month between 1st and last day. Reports indicated that 75% of respondents ended 10% lower than 2018. Since 1 Oct Jan doubled its occupancy starting at 27% as at 31 Oct and ending at 54%. This is an increase of 10% every month as we approached Jan. The rate grew by R150 from 31 Oct to end of Jan which is R40 per month and or 18% over 3 months
February started at 38% in Dec and at 1 Jan was already at 54%. Most of Feb’s bookings was made in Jan. Feb rate grew by 10% between 1 Jan and 31 Jan. Demand was good for the first 15 days but softens from 15th onwards. Hotels are lagging on LY by 10-15%. A report from Bcom says the booking pace is slightly ahead of last year this time but at 5% lower ADR; top source markets for CPT is SA(local), Germany, UK, Netherlands and Brazil.
March is at 28% occ and R1650 rate as at end of Jan and gained one third in occ (28% and up 9% from end of Dec). 1-15 March have good demand but we see it dwindling again from 16-31 Mar despite it being school holidays.
April is starting out at 23% occ and R1024 rate. April is the lowest starting point for any month since Aug 2018 and aside from Easter and WTM no other demand dates are evident. We expect winter 2019 to be very similar to 2018’s winter trading (May-Aug)
Please note insights the data is collected from 16 000 available room nights. Various levels of hotels all around the CPT metro share their forward book and we can accurately portray the city’s forward book and changes in demand. We realise some upper segment hotels might not be close in numbers related to values quoted below but you should take into consideration the overall movement as the same change values will apply at ADT and Occ levels.
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