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March Results of Hotels in Europe

News European hotel industry shows positive results in 2012. March follows the trend started by January and February as it can be seen in the latest report by STR. After relatively week end of 2011, and modest growth of first months of 2012, March features a growth of ADR of 3%. Experts carefully say about signs of improvement and growth of the hotel market of the region.

The biggest increases in occupancy were reached by hotels in Reykjavik, Iceland, (+17.9% to 66.8%), hotels in Tallinn, Estonia, (+17.5% to 52.1%), and by hotels in Prague (+12% to 60.6%). All figures for March 2012 are compared to the same month of the previous year. The highest decrease in occupancy was reached by hotels in Vienna, Austria. Here the decline estimated 8.7% to the level of 67.5%.

The markets with the highest increase in ADR are hotels in Tel Aviv, Israel, (+16.4% to US$241) and hotels in Paris, France, (+13.5% to US$309.57). On the other hand, such popular destinations as Frankfurt, Germany, and Vilnius, Lithuania, feature the highest declines in the ADR level – minus 10.7% and 10.4% to the levels of US$154.87 and US$65.98 respectively.

Occupancy and ADR are the most influential figures for RevPAR, so there’s no wonder why hotels with increases in the abovementioned figures show the growth of revenue per available room. The biggest gains have been reached by hotels in Tallinn (+28.4% to the level of US$41.51), Prague accommodations (+17.1% to the level of US$52.79), and hotels in Reykjavik (+16.7% to the level of US$50). The biggest drop of RevPAR was expectedly reached by hotels in Vienna – minus 17.4% to US$87.56.

Total results of hotels in Europe for the first quarter of 2012: the average increase of occupancy estimated 0.8% to 57.5%, ADR added 1.7% to US$128.25, and RevPAR added 2.5% to US$73.79.


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