Hotels in Milan and Prague both posted tremendous results for the month of October, reaching the growth of gross operating profit per available room (GOPPAR) by 37.5% and 22.6% respectively.
Hotels in Milan reached sufficient growth in almost all main figures. The growth of average room rate (ARR) estimated 16.2%, but that was reached together with falling occupancy, which, however, lost only 0.9%. Thanks to such a big growth of room rate, revenue per available room (RevPAR) added 17.4%. Positive results were also reached in non-room revenues, such as profit from hiring meeting rooms (+114.5%) or profit from selling food and beverages (+16.9% and +15.8% respectively). They helped total revenue per available room (TRevPAR) add 19.8% in October.
The capital of Czech Republic had another successful month. Occupancy added +5.1% and room rate increased by 11.0%. Naturally, this made RevPAR grow and it was 18.3% higher than during the same period of 2013. Non room revenues helped TRevPAR add 13.4% to 129.21 euro.
However, not all destinations across Europe posted such positive results. For example, Cologne hotels posted declines in all key indicators. Occupancy lost 7.7%, and coupled with falling ARR of 31.5%, it made RevPAR lose 38.1% compared to the same period of 2013. Experts also mention a significant increase in travel agent commission that added 25.5% compared to October 2013. The decrease of TRevPAR estimated 31.3%, and GOPPAR lost 45.4% to 51.36 euro.