London hotels achieved the highest occupancy, room rate and revenue per available room (revpar) during July of the 10 European cities listed in the monthly Europe HotStats survey from TRI Hospitality Consulting.
“Demand in London continues to be extremely high, despite no evidence of summer and the unfavourable dollar to pound exchange rate,” commented Jonanathan Langston, managing director at TRI. “But for the first time in 14 months, London’s hoteliers did not push rate so aggressively.”
Moscow hotels, however, achieved the greatest increases in revpar, room rate and occupancy (which rose by 27%, 19.9% and 3.8% respectively).
Despite driving rate harder than any other city in the survey, hotels in Moscow still lagged behind London and Paris and its occupancy level – just 68.1% - was the lowest in the survey.
German cities suffered from comparisons with 2006 when the country hosted the World Cup. Berlin was worst hit, with both room rate and revpar falling by more than 30%.
“Yet it would be a mistake to judge Berlin’s performance one year on too harshly,” added Langston.
“Compared to July 2005, revpar in Berlin increased by more than 100% during the World Cup. With a fall of just 30.4% this year, arguably Berlin’s hoteliers have continued to up their game.”
The figures are compiled each month by Tri Hospitality Consulting.
View the figures for June 2007 here >>
View the figures for May 2007 here >>
View the figures for April 2007 here >>
View the figures for March 2007 here >>
View the figures for February 2007 here >>
View the figures for January 2007 here >>
View the figures for December 2006 here >>
View the figures for December 2005 here >>
Definition of terms
Occupancy is that proportion of the bedrooms available during the period which are occupied during the period.
Room rate is the total bedroom revenue for the period divided by the total bedrooms occupied during the period.
Revpar is the total bedroom revenue for the period divided by the total available rooms during the period
Payroll % is the payroll for all hotels in the sample as a percentage of total revenue
IBFCpar is the Income Before Fixed Charges shown per available room