In December 2014, European hoteliers enjoyed growth of occupancy of 5.2% to 59.3% in total. The growth was reached in all main currencies US Dollar, Euro, and British pound.
The largest increase of occupancy was reached by hotels in Budapest, Hungary. In December 2014 it added 21.3% to 60.5% in total. The second largest growth was posted by hotels in Athens, Greece - +14.5% to 45.3% in total. The largest decrease in the metric was reported by hotels in Tel Aviv, Israel. Here occupancy lost 5.0% and estimated 59.1% in total.
Three markets enjoyed a significant double digit growth of ADR. These are Manchester (England), Tel Aviv (Israel), and London (England). The growth of average daily rate there estimated +14.6%, +14.1% and +13.1% respectively to EUR94.44, EUR178.71, and EUR179.05.
In terms of revenues, hotels in Budapest got the leading position. The increase of RevPAR (revenue per available room) there estimated 26.4% to EUR38.43. Hungarian hoteliers are followed by their Greek colleagues Athens hotels recorded the growth of RevPAR of 19.6% to EUR39.86. The largest decrease was reported by hotels in Moscow - 37.7 percent.
If analyzing European region in total, 2014 was definitely a successful year. Europe reached the growth of RevPAR of 5.8%, which makes 2014 one of the best years since 2011 and significantly better than 2013, when Europe posted growth of only 0.9%. ADR has also reached the pre-recession period. In 2014, European hotels achieved ADR of EUR106.09, which is almost the same with the result of 2007 ADR EUR107.02.