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Hotel Occupancy in Europe is Growing
January 2015 brought mixed results to hotel performance of European region. While Northern Europe enjoyed improving results and growth of year-to-year metrics, hotels in Eastern Europe suffered from weaker performance and decreased RevPAR.
Northern Europe finished 2014 with very good results, and January 2015 followed the trend. The growth of ADR estimated 12.3% for the region. Eastern Europe, in contrast, posted decline of RevPAR of 7.6%, and even growing occupancy of 5.0% couldn’t improve the overall performance. Southern Europe also posted better results. Hotels in the region managed to increase their RevPAR by 5.3%, mostly thanks to improving performance of hotels in Spain, Greece, Portugal, and Malta. Western Europe was another region with fast growing RevPAR. The increase of the metric here estimated 4.0%, reaching the highest result for Europe in total – EUR63.45.
If analyzing Europe in general, occupancy in the region added 3.5% in January 2015, and ADR in Euro grew by 5.2%, helping RevPAR in Euro add 8.9%.
Hotels in Lisbon posted highest growth of occupancy of 16.9% (to 49.8% in total), featuring the highest growth of the metric for the month of January. They were followed by hotels in Budapest, Hungary, that posted growth of 15.1% to 47.8% in total. The largest decrease of occupancy was posted by hotels in Tel Aviv, Israel – minus 8.9% to 57.0% percent in total. The largest increase of ADR was reported by same Tel Aviv hotels - +21.1% to 182.13 euro. The second largest increase was reached by hotels in Manchester - +19.9% to 88.04 euro. Finally, Budapest hotels enjoyed the largest growth of RevPAR in Europe in January (+31.0% to 31.40 euro).
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