London hotels revenues increase in Europe

A recent study by TRI Hospitality Consulting last week has shown that London hotels were only one of ten Europeans cities to have an increase in revenue per room available (revPAR). The revPAR went up to €131.64, an increase of 0.5 per cent compared to the same period last year, the first since August last year. Second in Line was Vienna in Austria who had a drop of 7.4 per cent, then Paris who lost 10.3 per cent and Hamburg and Berlin dropping by more than 10.5 per cent. The worst out of all the cities that were studied was Prague in Czech Republic who had a massive slide of 40.5 per cent revPAR.

Paris had the highest growth in room occupancy when they achieved 86.4 per cent, but London came out on top again with the highest occupancy rate of 87.1 per cent per room available. Prague again came out worst in this category slipping to less than 70 per cent of their rooms being occupied in September. Prague may have fared better, but for their increase in hotels being built in the city. They have had the highest increase of new rooms out of the 10 cities in the list.

Hotels are opening up all over Europe at the moment as the construction was planned long before the recession took hold of the economy. It has in fair, been hard for hoteliers across Europe to cope with the new influx of hotels opeing as the consumer has been tightening their purse strings. This has lead to massive reductions on prices as hotel fight for their survival into the following year and beyond.