London was the only one of ten European cities studied by TRI Hospitality Consulting to see hotel revenue per available room increase last month. London revPAR came to 131.64 euros in September, up 0.5% year-on-year, its first increase since August 2008. Next best was Vienna with a decline of 7.4% to 152.60 euros, followed by Paris (-10.3% at 138.69 euros), Hamburg (-10.8% at 102.87 euros) and Berlin (-11.6% at 121.41 euros)…
London was the only one of ten European cities studied by TRI Hospitality Consulting to see hotel revenue per available room increase last month. London revPAR came to 131.64 euros in September, up 0.5% year-on-year, its first increase since August 2008.
Next best was Vienna with a decline of 7.4% to 152.60 euros, followed by Paris (-10.3% at 138.69 euros), Hamburg (-10.8% at 102.87 euros) and Berlin (-11.6% at 121.41 euros).
The worst performer was Prague, where September revPAR plunged 40.5% year-on-year to 73.83 euros, then Budapest (-19.8% at 71.93 euros), Munich (-18.2% at 113.21 euros), Warsaw (-16.2% at 65.84 euros) and Amsterdam (-12.3% at 148.31 euros).
Paris reported the strongest occupancy growth last month, of 6.6 percentage points to 86.4%, although the fullest hotels were in London, up 3.9pp at 87.1%. Prague fared worst again, seeing occupancy drop 10.8pp to 68.3%, the lowest of the ten.
Average room rates held up best in Vienna, which reported a decline of 3.8% to 195.37 euros, the highest in the survey, followed by London, down 3.9% at 151.11 euros, fourth highest. Warsaw recorded the lowest September rates of 87.51 euros (-8.2%), while the biggest fall was seen in Prague (-31.1% at 108.06 euros).
"Prague is not the only city to have considerably gone off the boil, but it has clearly been the victim of significant levels of new hotel development at a time when hoteliers can ill afford any additional threats to performance," commented TRI managing director, Jonathan Langston.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
