Property Types Hospitality
June 2, 2009
The European hotel industry in April saw double-digit percentage drops in occupancy, average daily rate and revenue per available room, although the numbers also could indicate that the industry is stabilizing, according to data by Smith Travel Research. For the continent overall, occupancy dropped year-over-year by 13.8 percent to the level of 59.4 percent. Average daily rate, measured in euros, was down 14.7 percent, and RevPAR was down 26.5 percent. On the country level, Russia reported the biggest drops, with occupancy down 20.8 percent, rates down 19.5 percent and RevPAR down 36.2 percent. Germany was close behind, with a 17.4 percent drop in occupancy, a 14.9 percent drop in average daily rate and a nearly 30 percent drop in RevPAR.
SOURCE: Business Travel News
The European hotel industry in April saw double-digit percentage drops in occupancy, average daily rate and revenue per available room, although the numbers also could indicate that the industry is stabilizing, according to data by Smith Travel Research. For the continent overall, occupancy dropped year-over-year by 13.8 percent to the level of 59.4 percent. Average daily rate, measured in euros, was down 14.7 percent, and RevPAR was down 26.5 percent. On the country level, Russia reported the biggest drops, with occupancy down 20.8 percent, rates down 19.5 percent and RevPAR down 36.2 percent. Germany was close behind, with a 17.4 percent drop in occupancy, a 14.9 percent drop in average daily rate and a nearly 30 percent drop in RevPAR.
SOURCE: Business Travel News
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