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Tourism Industry of Europe is Expected to Slow Down in 2013

News Because of the prolonged economic downturn hotels in Europe should not expect their revenue levels to grow. This information is stated in the latest report by PricewaterhouseCoopers.

Hotels in Paris are forecasted to top the list of profitable hotels in Europe. Their expected occupancy estimates 79.1%, and the average daily rate (ADR) will be the most expensive in the region (€267). The projected RevPAR for hotels in Paris is also the highest - €211. London will be a bit behind Paris. The city is likely to post negative growth, but its hotels will still enjoy high levels of profitability. There are also cities in Europe that are expected to improve their revenue levels significantly. These are hotels in Edinburg, Berlin, Frankfurt, Dublin, and St. Petersburg.

The growth of RevPAR in euro currency for hotels in St. Petersburg is expected to reach 7.3%. The Russian city is followed by hotels in Paris (+5%), Frankfurt accommodations (+3.5%), hotels in Berlin and Dublin (+3.2% and +3.1% respectively). If calculated in local currency, the most significant growth of RevPAR is expected in Paris, followed by hotels in St. Petersburg, Edinburg, Frankfurt and Berlin.

As it is mentioned in the report, hotels in the abovementioned countries will become clear winners of 2013 in terms of growth of RevPAR. Hotels in London, which traditionally post best results, will face a series of challenges this year, and their revenues are likely to feature negative growth. After a wonderful Olympic year London will surely not be able to reach high results, but the title of the business and trading heart of the region will surely help London hotels to maintain a profitable performance.


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