Apr 30 2009
European Hotel Industry Reported Mixed Year-Over-Year Results
According to data complied by STR Global the European hotel industry has mixed year-over-year results when reported in U.S dollars, Euros and British Pounds.
The data revealed that when counting occupancy, average daily rate and revenue per available room, the results for this first quarter in the European hotel industry has gone from double-digit losses to single-digit gains.
James Chappell, managing director of STR Global has commented: “The annual Easter mismatch has had a positive effect on European performance but has only extended to a very limited number of markets.” Europe itself has fallen 14% in RevPAR.
There’s a huge concern about Europe, according to James Chappell:
“I think we can look forward to some eye-watering numbers in April.” Chappell added. Hopefully, with summer hitting Europe, there’s hope that things might change, but time will tell.
