Contrasting Results In European Hotels
Robert JonesSTR Global, a hotel industry research group, as revealed that the average room price has increased all over the western regions of Europe between October 2008 and 2009.
STR Global managing director Elizabeth Randall said that one of the hardest hit sub-regions in Europe during this year’s month of October remained Eastern Europe.
Russian capital Moscow experienced a drop of its average daily rate (ADR) by more than 35%, to 156.35 Euros. Other poor performer was Prague, which reported a decrease in ADR of 28%, to 79 Euros.
The two Eastern European capitals also experienced shrinkage in terms of revenue per available room (revPAR), with the Russian city slumping by 38.3 percent and Prague dropping by 30.3 percent.
Both Budapest and Athens also experienced revPAR decreases by in excess of 25 percent, with 42 Euros and 87 Euros respectively.
Portugal’s Lisbon claimed the greatest slide in terms of occupancy rates, crumbling by 9.3 percent to 68.1 percent.
But Europe did see room rate increases, although the jump was experienced in the Western part of the continent.
Rome, Venice, Cardiff and Dusseldorf all saw between 6 and 9 percent ADR boosts.
Not in Europe, but still taken into account was Tel Aviv. The Israeli city led the board, claiming the biggest increase in growth in occupancy with a whopping 33 percent over the previous year.
The Middle Eastern city also experienced a very large revPAR rise, increasing by 20% which averaged at 118 Euros. Cologne’s revPAR also increased greatly, by 26 percent to 89 Euros.
According to STR Global officials, when comparing all the regions in the world, the greatest monthly revenue per available room for the period between October 2008 and 2009 were reported in Europe.
Ms Randall said this is good news, but added that Europe was the first global region to experience strong RevPAR slumps in the last quarter 2008.
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