Rezidor now admits that it is feeling the full impact of the recession, according to its newly released figures. Although the core market for Rezidor may be down, new emerging markets could be helping to dampen the severity of the downturn.

Rezidor, which is a Brussels-based hotel chain, registered a €21.6 million tax loss in the first half of 2009. This was compared with a profit of €14.7 million during the same period last year. The revenue per available room has slumped down 18.8 percent to just €62.3 million. Occupancy rates have also fallen by 65 percent to just 59.2 percent. The figures from the latest quarter made for an equally grim reading with the revenue per available room down 22.9 percent and revenues down 21.9 percent.

New emerging markets remain strong for Rezidor and 84 percent of the new rooms contracted this year are in Eastern Europe, Africa, and the Middle East. Right now Rezidor has almost 380 hotels in its portfolio. Rezidor holds a worldwide license agreement with the Italian fashion house Missoni to operate Hotel Mission hotels in Edinburgh this year.

The hotel industry as a whole has been feeling the impact of the global recession as people are traveling far less and, thus, the need for hotels has fallen. One of the biggest reasons for the drop in demand is the fact that businesses are sending far less people on trips due to the economy. Thus, the business market, which is how most hotels make most of their money through the non-holiday seasons, are not traveling.