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Hotels in Europe Serve More Visitors, Luxury Segment on the Top

News According to the new data provided by American Express Business, European hotel industry is getting better. However, the pre-downturn level is still unreachable.

An interesting fact – in 2010 luxurious hotels in Europe showed better performance than budget and midscale accommodations. The average growth in this segment reached 9%, while upscale and midscale accommodations gained only 3% and 2% respectively. Hotels in the UK show stronger growth as here luxury accommodations gained 10% over the year and midscale – 7%. One of the reasons for such growth may be the number of luxurious accommodations opened throughout Europe in 2010.

The total amount of money spent in hotels in Europe in 2010 increased by 7%. The positive trend persisted in Q1, showing a growth of 4%. Younger travellers, who are often called the Millennial Generation, also tend to spend more for hotels – currently they spend approximately 20% more than before the global economic crisis. Hotels in France, Italy and UK are the most popular here.

The leading market in terms of spending growth is the UK. France occupies the second place, and Germany the third. These countries are very close to their 2008 levels, but no European country has yet managed to reach pre-recession performance. Such popular European destinations as Italy and Spain also show signs of recovery, but they have been hit by the crisis more severely.

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