Important! This article is written by orangesmile.com editors and is protected by copyright law. The article can only be re-used with a direct link to www.orangesmile.com

Profitable February for Hotels in Europe

According to the data provided by STR Global, in February 2014 hotels in Europe posted mostly improved results. Occupancy was growing in majority of regions, adding 3.3%. The average occupancy in Europe in February 2014 was 60.8%. Average daily rate was also growing in US dollars and euro (+7.4% and +2.7% to US$131.03 and €95.77), and it fell by 2.5% in British pounds (to £78.63). RevPAR showed growth in all the three currencies. In the US dollars it was the biggest, +11% to US$79.6; in euro the growth of RevPAR estimated 6.1% to €58.19, and, finally, in British pounds the growth was the smallest (+0.8% to £47.78).

In 2013, many regions of Europe had declines of occupancy and average daily rate. If compared to February of last year, in February 2014 hotels in Europe posted positive growth of main parameters. That is particularly true about Northern Europe. Hotels in Denmark, Ireland, the UK and Estonia improved their results, and this year is expected to be a year of growth in general.

The biggest growth of occupancy was reached by hotels in Athens, Greece, that added as many as 23.2% to 52.1% in general. They are followed by Amsterdam hotels. The capital of the Netherlands increased the occupancy of its hotels by 19.5% to 67.9% in total. At the same time, hotels in Warsaw, Poland, had a decline of occupancy of 5.1% to 60.3% in total. That was the biggest decline for hotels in Europe in February.

Hotels in Copenhagen (Denmark), Amsterdam (the Netherlands), Manchester (England), Tallinn (Estonia), and London (England) posted the highest growth of average daily rate – from +15.7% for Copenhagen hotels to +10.2% for London hotels. Finally, the highest growth of RevPAR in February 2014 was reached by Amsterdam hotels that added enormous 37.1% to €76.27 in total.

31.03.2014

Previous article / Back to news index

Stay in touch with the latest news of a worldwide hotel industry. All up-to-date analytics, reports, and news about hotel business trends on OrangeSmile.com.