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French and UK Hotels are Leaders in European Hotel Industry
French and UK hotels are leading in the European hotel industry, the results of the 1st semester of 2005 show.
With an accelerated average daily rate growth, hotels in France top the list of the best performing European hotels. The rise in RevPAR totalled 3.3% here. France’s neighbours by the Mediterranean, Spain and Italy, saw greater difficulties. In Spain, which still has problems of overcapacity, the RevPAR dropped by 4.5% during the first semester.
Results for the first 6 months were excellent in the UK (RevPAR up by +5.9%); while hotel activity in Germany remained almost unchanged (+1.7%).
With an average rise in RevPAR of 5.9%, hotels in the UK continued to register excellent results. The UK hotel industry began to improve quite early, and the constant demand means markedly high average occupancy rates. The positive trend continues, and occupancy rates in the UK hotels continue to go up in this semester.
In Germany, where hotel industry is greatly affected by trade fairs, commercial exhibitions, shows, and business activity, sharp shifts in the results during the first semester of 2005 were registered. In April 2005, there was the highest rise in 5 years (+22.5% growth in RevPAR), but in the following month, the results were much worse (-17.1%). Due to weak economic growth, average daily rates are still down and RevPAR levels unchanged as compared with the first 6 months of 2004.
Hotels in Spain had problems of overcapacity and ended the year 2004 with very poor results – RevPAR dropped by 7.3%. Over the first semester of the year 2005, RevPAR rates continued to fall. As the supply is fast growing, average daily rates are still negative. However, occupancy rates have steadied over the first 6 months (+0.2 points) which shows that situation may turn around.
More articles about hotels around the globe:
Pre-Olimpic Bustle in London Hotel Industry
Capsule Hotels Coming to Europe
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