European hotels prosper in July but Cardiff suffers
The European hotel industry has seen its revpar and occupancy improve on last year's performance, according to sector analyst STR Global.
Research released today found that year-on-year, the results for July 2011 were positive, with occupancy up 3.4% overall to 73.6%, revpar up 12% to £66.41 and ADR rising by a still significant 8.4% to £90.24.
Elizabeth Randall, managing director of STR Global, said: "European hotels continued to improve on last year with increased demand driving occupancy and ADR growth. The gains provided a welcome contrast to more subdued economic news that made headlines recently."
However, she warned that slower GDP growth rates in some key European markets make the outlook for the region "a bit more challenging than it was a few months ago."
Cities including Venice, Florence and Manchester saw double digit occupancy growth to hit occupancy rates in the region of 82-86%, and Venice also saw the largest revpar increase, rising 28.1% to £213.27. Meanwhile, Cardiff saw the largest drop in ADR of 15% to £53.32 as well as a double digit revpar decrease of -11.5% to £41.11.
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By Emily Manson
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