February 2015 brought impressive results to hotels in some European destinations. For example, hotels in Budapest and Warsaw managed to reach growth of gross operating profit per available room (GOPPAR) of 78.5% and 54.1% respectively!
Budapest hotels enjoyed increased demand that added 5.6%. Together with growing average room rate (ARR) of 9.2%, hotels in the Hungarian capital increased their revenue per available room (RevPAR) by 19.9% to 52.59 euro in total. Residential Conference segment posted highest growth of 17.3%, but the growth was noticeable in all segments. Same profit was reached in non-room departments, helping total revenue per available room (TRevPAR) increase by 19.4%. Departmental operating profit per available room (DOPPAR) and GOPPAR added 26.1% and 78.5% respectively compared to the same period of 2014.
Hotels in Warsaw also were among best performers. RevPAR added 19.3% thanks to increase of occupancy of 7.1% and increase of ARR of 7.9%. Hotels in the capital of Poland particularly benefited from meeting room revenues and food and beverage sales. The growth of DOPPAR and GOPPAR here estimated 31.1% and 54.1% respectively.
Not all European gateway cities posted such good results. February was quite a complicated month for hotels in Dusseldorf, Germany. They posted declines in all key factors. Occupancy lost 6.1% and ARR decreased by 16.4%, making RevPAR down by 23.5%. Hotels in Istanbul, in their turn, experienced growth of occupancy of 4.3%, but that was reached at the expense of ARR that was down by 11.7%. Consequently, RevPAR dropped by 5.4%.