European hotels top global revenue performance

06 March 2008 by
European hotels top global revenue performance

European hotels continue to lead in global revenue performance, but could soon be challenged by the growth of tourism in other world regions, experts predicted today.

In the latest Global Ranking Index report, from consultancy Deloitte, Venice held onto first position for the fifth year running, with revenue per available room (revpar) rising 22% to $265 (£132).

Paris showed its consistent popularity coming in second with revpar of $249 (£124,) a 23.2% increase, while Moscow rose from seventh to third place with its revpar going up 23.5% to $244 (£121).

London stayed in the top five holding on in fourth place at $224 (£111), an 18.5% growth in revpar.

The Middle East continued its massive growth, increasing by 16.9%, exceeding growth in both Europe and Asia for the fourth consecutive year, while revpar in Asia Pacific rose 12.9% last year driven by average room rate increases.

Across Central and South America, revpar increased by 19.4%, making it the fastest growing region.

Alex Kyriakidis, global managing partner of tourism, hospitality and leisure at Deloitte, said the outlook for the global hotel industry was "promising", despite slowdown fears in Europe and the USA.

"This year will see a number of sporting events across the globe, attracting large numbers of travellers, particularly the Beijing Olympics," he said.

Emerging hotel markets to challenge established destinations >>

Deloitte warns of uncertainty in 2008 for hotels' performance >>

Revpar grows by nearly 15% at London hotels >>

By Gemma Sharkey

E-mail your comments to Gemma Sharkey here.

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