Prague’s overall occupancy rate of 84.1 percent during the tournament, coupled with a 21.5-percent rise in average daily rate to CZK2,890.64, led to a year-over-year revenue-per-available-room increase of 32.1 percent to CZK2,431.08.
LONDON – Hotels in Prague, Czech Republic, experienced significant year-over-year performance increases when the city served as the primary host to the 2015 Ice Hockey World Championship from 1-17 May 2015.
According to STR Global, during the 17-day period in which the tournament was held, Prague hotels reported a year-over-year occupancy increase of 8.8 percent when compared to the same time period in 2014. Prague’s overall occupancy rate of 84.1 percent during the tournament, coupled with a 21.5-percent rise in average daily rate to CZK2,890.64, led to a year-over-year revenue-per-available-room increase of 32.1 percent to CZK2,431.08.
The effect on Prague hotels carried over to the week following the tournament. From 18-23 May, occupancy hit 93.0 percent, a 6.8-percent year-over-year increase; ADR was up 20.0 percent to CZK2,708.59; and RevPAR swelled 28.1 percent to CZK2,519.10.
Sixty-four games were played at various sites during the tournament, 34 of which were held at the O2 Arena in Prague. The final four games took place in Prague with two semi-final contests, the Bronze Medal Game between the United States and the Czech Republic and the Gold Medal Game between Canada and Russia.
When looking at specific days during the 2015 Ice Hockey World Championship, 1-2 May and 14-17 May, had the most significant effect on hotel performance in Prague. During those six days, occupancy rose to an average of 93.3 percent. ADR increased 29.0 percent when compared with the same six days from 2014, and RevPAR surged 35.1 percent in year-over-year comparisons.
According to the International Ice Hockey Federation (IIHF), the 2015 edition of the Ice Hockey World Championship broke the tournament’s all-time attendance record with more than 740,000 fans in attendance over the 17 days.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
