Poland Tourism Report - 2013

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Poland Tourism Report - 2013

This report covers market developments for Polish tourism in 2013 and the data available as of April 2014.

The Polish tourism industry continued growing in 2013 and the sector’s annual performance in most segments looks encouraging considering the high base comparison (i.e. record year in 2012, driven by the EURO 2012 soccer championship). The total contribution of the travel and tourism sector to the GDP also increased by 0.3pps year on year to 5.3%, or PLN 85.7bn (EUR 20.4bn) in 2013, according to estimates of the World Travel & Tourism Council.

Domestic and foreign tourist arrivals continued on upward path in 2013. The number of foreign tourists visiting Poland in 2013 increased by 6.8% year on year in 2013, while the total revenues generated by the incoming tourists advanced by 11.5% year on year. The number of domestic trips increased by 4.8% year on year last year, (unsurprisingly) decelerating from the 36.8% year on year surge in 2012, but still by 43.4% above 2011 level and by 25.2% higher than in 2010.

Prospects for the tourism sector in the coming years remain optimistic. According to our QuERI forecasts, the real market demand for the selected tourism services (hotels, restaurants, travel arrangements, recreational services) is projected to increase by 1.7% year on year in 2014 (in mn 1995 USD) and further 2.9% year on year in 2015.

Key points:

• Tourism industry performance in 2013 is higher than record year 2012
• M&A activity dynamics on hotel market accelerates in Q4/2013
• Restaurant market stagnates year on year in 2013, but fast food segment expected to improve significantly this year
• Health tourism keeps up momentum, future outlook is encouraging


Table of Contents

Contents
Executive summary 4
Market overview 5
Tourism industry performance in 2013 is higher than record year 2012 5
Total contribution of tourism in GDP rises in 2013, but remains below European average 6
Domestic tourism maintains upward path 7
Horeca market stagnates y/y in 2013, to resume growth this year 9
Airports’ traffic grows 2.2% y/y last year 9
Hotels 10
Hospitality market continues upward, though growth decelerates in 2013 10
Number of hotel guests up 8.2% y/y in 2013 11
M&A activity dynamics on hotel market accelerates in Q4/2013 13
Number of independent hotels joining international chains rises in 2013 14
Accor’s Orbis meets 2013 forecast, plans EUR 24mn investments in modernization this year 14
Algonquin acquires Sheraton Hotel in Krakow for EUR 38mn 14
Restaurants 15
Restaurant market stagnates y/y in 2013, but fast food segment expected to improve significantly this year 15
AmRest reports rising revenues, shrinking profit in 2013 16
McDonald’s moves on with chain expansion, tests delivery service in Warsaw 17
Sfinks reports improving financial results in Q4/2013, plans 15 openings in 2014 17
Subway starts opening sandwich bars by petrol stations 18
Travel agencies 18
Travel agencies expect hiking number of early bookings to boost sales in 2014 18
Value of online holiday booking market reaches PLN 4.5bn in 2013 18
Tour operator TUI improves profitability in 2012/2013 fiscal year 18
Sales revenues of Rainbow Tours surge 27.7% y/y in 2013 18
Netmedia acquires flight booking portal lataj.pl 19
Resorts & Spas 19
Ski resorts manage to offset unfavourable weather conditions, further investments are planned in the sector 19
Health tourism keeps up momentum, future outlook is encouraging 20
Slovak TMR acquires Szczyrk ski resort, plans EUR 30mn investments in next few years 20

Table 1 Travel & Tourism Sector- Selective indicators in 2012-2014f 6
Table 2 Number of domestic tourist long trips, by month in Poland (million trips), 2002-2013 8
Table 3 Number of domestic tourist short trips by month in Poland (million trips), 2002-2013 9
Table 4 Major hotel projects scheduled for delivery in 2014-2015 11
Table 5 Hotel accommodation- Selective indicators in 2004-2013 (unit thou, annual) 12
Table 6 Major M&A in hotel industry in 2012-2013 (EUR mn) 13
Table 7 Sfinks Polska S.A.- Selected financials in 2011-2013 (PLN thou, annual, quarterly) 17
Table 8 RAINBOW TOURS S.A.- Selected financials in 2011-2013 (PLN thou, annual) 19

Figure 1 Foreign tourist arrivals to Poland in 2009-2013 (annual, thou persons) 5
Figure 2 Tourist spending by purpose in 2012-2013 (% of total) 5
Figure 3 Foreign tourist arrivals by country in 2013 (thou, % of total) 5
Figure 4 Market demand for selected tourism services in 2007-2017f (real market demand, bn 1995 USD) 6
Figure 5 Direct contribution of travel&tourism to GDP in 2007-2013f (PLN bn) 7
Figure 6 Total contribution of travel&tourism to GDP in 2007-2013f (PLN bn) 7
Figure 7 Total number of domestic tourist trips in 2002-2013 (annual, mn) 8
Figure 8 Passenger traffic in regular and charter flights at Polish airports in 2009-2013 (mn passengers) 9
Figure 9 Number of hotels in 2005-2013 (annual) 10
Figure 10 Number of rooms in hotels in 2007-2013 (annual) 11
Figure 11 Number of hotel guests in 2004-2013 (mn) 12
Figure 12 Structure of hotel visitors in 2003-2013 (% of total visitors) 12
Figure 13Structure of hotel base in 2013 (% of total) 14
Figure 14 Restaurant market demand in 2007-2017f (USD mn, y/y) 15
Figure 15 Number of catering establishment by type in 2003-2012 (annual, thou units) 16
Figure 16 Revenues from catering activities in 2003-2012 (annual, PLN mn) 16

Number of pages: 20
Release Date: Sun, 04 May 2014