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Hotels in Istanbul Feature the Leading Performance in First Half of 2011

News The data concerning the performance of the European hotel market within first 6 months of 2011 shows that hotels in Istanbul enjoy the leading position. According to TRI Hospitality Consulting the profit here grew to tremendous 50%.

The increase in sale of Turkish chain hotels in also tremendous – RevPAR (revenue per available apartment) here rose up to 26.7%. GOPPAR (gross operating profit per available apartment) stays the same and estimates 49.2%.

Turkey remains one of the most rapidly developing markets of Europe. Even though the supply has increased here in recent years, the demand is still strong and, thus, revenue levels keep growing.

According to the data concerning the occupancy in June 2011, hotels in Amsterdam, London and Paris have also experienced growth in the number of visitors. Several large events, demand from corporate sector and influx of leisure tourists have helped these markets to improve their results and reach the growth not only in occupancy, but also in profit.

In June the occupancy in Amsterdam hotels increased by 4.5% to 87.2% and RevPAR added 16.8%. Hotels in London have benefited from several large events (Wimbledon Tennis Championship, Taste of London, Royal Ascot, and Hard Rock Calling), so the increase in room rates and GOPPAR here is also significant - +13% and +16.6% respectively. Finally, hotels in Paris featured average room rate growth of 20.3%. This became possible due to the increased demand in both leisure and corporate markets. In June large events like Paris Air Show attracted visitors from many countries of the world including South America and the Middle East.

Among other cities that improved their performances in June were Dublin, Berlin, Budapest, and Madrid. In general all main European cities show improved results within last 12 months.

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