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European hotels experience a weak August

1st October 2009, 10:15am

All the cities in the HotStats European Chain Hotels survey suffered a drop in RevPAR during August compared to the same month a year ago.

But the rate of decline for most cities was slower than for the first eight months of the year.

Seven out of 10 cities surveyed experienced a decline in occupancy levels relative to performance in August 2008 and nine out of 10 cities experienced a decline in average room rate.

With the exception of Berlin, the cities also showed declining profitability in August year-on year as measured by gross operating profit per available room.

David Bailey, deputy managing director, TRI Hospitality Consulting, said: "In terms of recovery, July was clearly a more positive month than August for European hotel markets and whilst we remain optimistic that the worst of the declines have already occurred, recovery will be gradual."

In the eight months to August 2009, the most significant declines in RevPAR were experienced in the central and eastern European cities of Vienna, Prague and Budapest.

With a drop of 24.7%, Prague was the worst affected market in terms of RevPAR performance. This is a result of a decline in international visitor numbers in the first half of 2008 as well as significant supply increases in recent years.

With the exception of London, all hotel markets surveyed have experienced a double digit percentage drop in profit per available room (GOP PAR) in the eight months to August 2009. London hoteliers were able to limit declines in profit levels as a result of surprisingly buoyant performance levels and tight control over costs.


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