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Occupancy in European Hotels is Up in March 2014

News In March 2014, the European hotel industry had one more successful month with occupancy growing by 2.23% to 64.9% in total. The growth of the key indicator was posted in all popular destinations of the region and in all European currencies excluding British pounds.

The biggest growth of occupancy was reached by hotels in Athens, Greece. Here the indicator added 27% to 58.8% in total. Hotels in Istanbul (Turkey) were the leaders in terms of occupancy decrease - the metric lost more than 16% to 61% in total. Prague hotels (Czech Republic) also posted negative results – the occupancy of hotels in the famous tourist destination fell by 10% to 57.8%. Istanbul and Prague posted the worst result among all European hotels in March 2014.

Five markets in Europe reached the double-digit growth of ADR (average daily rate). These are hotels in Copenhagen (Denmark, the growth of ADR of 16.4% to 112.85 euro), Manchester hotels (England, the growth of ADR estimated 13.2% to 86.44 euro), Vilnius hotels (Lithuania, +13.2% to 54.51 euro), hotels in Tallinn (Estonia, the growth of ADR estimated 10.9% to 71.86 euro), and hotels in London (England) with the growth of ADR of 10% to 158.39 euro in total. The largest decrease of the metric was posted by hotels in Moscow – minus 17.4% to 124.85 euro in total.

The biggest RevPAR (revenue per available room) was reached by hotels in Athens (+32.2% to 50.77 euro), and Copenhagen hotels (+29.6% to 71.17 euro). March is the last month of the first quarter of 2014, and during this period the occupancy in European hotels added 2.8% to 59.5%, while average daily rate added 2.2% (98.36 euro in total). This helped RevPAR grow by 5.1% to 58.56 euro.


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