30 November 2022, Virtual
12 December 2022, etc.venues Monument, London
Business Travel Show Europe, presented by The BTN
Average hotel rates in Europe rose by 1.5 per cent in November, according to data from industry analyst STR.
The company said that improved room occupancy, which increased by 4.2 per cent to 70.3 per cent for the month, helped push up average daily rates to €107.14 across the continent – up from €105.53 in November 2015.
The biggest increase in rates year-on-year came in eastern Europe which saw a 6 per cent rise in ADR to €64.73 on the back of a 8.4 per cent rise in occupancy.
By contrast, average rates at hotels in western Europe fell by 0.7 per cent year-on-year to €110.42 despite a 3.3 per cent rise in occupancy.
London saw occupancy levels in November rise by 5.3 per cent to 85.9 per cent, which helped to increase ADR by 2.6 per cent to £151.65 – this was the highest growth recorded during the first 11 months of 2016.
“STR analysts note that the results are in comparison with November 2015, when London’s hotel market experienced an aftershock following the terror attacks in Paris, France,” said STR in its report.
Elsewhere, Dublin saw its hotel occupancy decline by 3.7 per cent to 78.3 per cent in November, but despite this, ADR actually increased by 3.8 per cent to €121.03.
For the first 11 months of 2016, average daily rates in Europe rose by 1.4 per cent to €112.18 as occupancy only increased by 0.3 per cent to 71.2 per cent.