European hotels make comeback in 2014

European hotels were showing the first signs of economic growth in 2014 after some difficult years, according to a new report.

Lisbon hotels saw strong occupancy rates in 2014
Lisbon hotels saw strong occupancy rates in 2014

The ECM-MKG European Destinations Observatory report found that Europe’s hotel industry ended 2014 with a 3.8% increase in RevPAR and an average occupancy rate of 70%. 

Average daily rates, which were stagnant in 2013, increased by 2% in 2014 due to an increasing number of arrivals, particularly international ones. The report also cited the economic recovery and stronger purchasing power in some European countries as a reason for the growth.

The return to growth was mostly driven by Southern Europe, where the strongest growths in occupancy rate were recorded in Lisbon (+3.7 points), Madrid (+3.9 points), Seville (+4.8 points) and Zaragoza (+6.0 points), countries that were affected by 2008’s financial crisis yet kept their appeal to foreign visitors.

In Central Europe, Budapest recorded the highest RevPAR, while in Northern and Western Europe Copenhagen saw its RevPAR increase because of the impact of the congress sector. London showed the highest occupancy rate in this part of Europe at 86%, and saw a REvPAR increase of 3.4%.

Ignasi de Delàs, ECM President, said: "Driven by the rebound of Southern Europe, all of the continent’s hotel industry made a comeback in 2014. This is good news as we struggled to find our way out of the worst economic period in our history. Tourism has been a major contributor of economic recovery in Europe as it is still the most visited region in the world."

More:

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