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Occupancy in European Hotels Keeps Growing

News In December 2014, European hoteliers enjoyed growth of occupancy of 5.2% to 59.3% in total. The growth was reached in all main currencies – US Dollar, Euro, and British pound.

The largest increase of occupancy was reached by hotels in Budapest, Hungary. In December 2014 it added 21.3% to 60.5% in total. The second largest growth was posted by hotels in Athens, Greece - +14.5% to 45.3% in total. The largest decrease in the metric was reported by hotels in Tel Aviv, Israel. Here occupancy lost 5.0% and estimated 59.1% in total.

Three markets enjoyed a significant double digit growth of ADR. These are Manchester (England), Tel Aviv (Israel), and London (England). The growth of average daily rate there estimated +14.6%, +14.1% and +13.1% respectively to EUR94.44, EUR178.71, and EUR179.05.

In terms of revenues, hotels in Budapest got the leading position. The increase of RevPAR (revenue per available room) there estimated 26.4% to EUR38.43. Hungarian hoteliers are followed by their Greek colleagues – Athens hotels recorded the growth of RevPAR of 19.6% to EUR39.86. The largest decrease was reported by hotels in Moscow - 37.7 percent.

If analyzing European region in total, 2014 was definitely a successful year. Europe reached the growth of RevPAR of 5.8%, which makes 2014 one of the best years since 2011 and significantly better than 2013, when Europe posted growth of only 0.9%. ADR has also reached the pre-recession period. In 2014, European hotels achieved ADR of EUR106.09, which is almost the same with the result of 2007 ADR – EUR107.02.


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