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Hotels in Europe Are Very Optimistic About This Spring and Summer

News First quarter of 2011 has become successful for hotels in the European Union, making them optimistic for the rest of spring and summer.

According to the statistics, in March the positive trend remained, helping hotels to finish the quarter with higher RevPAR and ADR levels. Revenue per available apartment grew by 5.7% in 27 countries of the European Union. This means the positive trend lasted during three consequent months. In January the growth in RevPAR estimated 7.5%, in February – 5.3%. Together with March this makes Q1 grow of 5.9% in total.

The most interesting is the main moving force for the progress in the hotel industry in Europe. In the majority of European countries the increase in RevPAR is geared up by upscale segment. Midscale and budget accommodations in Europe also feature growth, but it is not so spectacular. Even though 4- and 5-star hotels in Europe still have quite modest occupancy, the rates in this region keep improving.

The improving performance is, as usual, headed by the ‘heavyweight’ hotel markets. Hotels in Germany, France and United Kingdom are among leaders during January-March except for France in March, where occupancy decreased, but this didn’t affect revenues.

The leader in the Central Europe is Austria. This country is traditionally chosen for hosting various events and conferences. This is the reason for the growth of 26% in RevPAR in hotels in Vienna. Denmark occupies the first place among Scandinavian countries.

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