Friday 30 September 2022, JW Marriott Grosvenor
November 2022, Virtual
21 November 2022, Hilton London Metropole
Lisbon sees largest slump in occupancy
Average room rates improved across southern and western Europe between October 2008 and 2009, revealed Hotel industry researcher STR Global, but Eastern Europe was left behind.
Elizabeth Randall, managing director of STR Global, said: "Eastern Europe remained one of the harder-hit European sub-regions in October."
Moscow reported an average daily rate (ADR) decrease of more than 35%, to €156.35. Prague also suffered, reporting a drop in ADR of 28%, to €79.
The two cities also saw a contraction in terms of revenue per available room (revPAR), with Moscow falling 38.3% and Prague falling 30.3%.
The revPAR in Budapest and Athens also decreased by more than 25%, to €42 and €87 respectively.
In terms of occupancy rates, Lisbon reported the largest slump, falling 9.3% to 68.1%.
In contrast, Cardiff, Rome, Venice and Dusseldorf saw increases in ADR of between 6 and 9%.
But it was Tel Aviv that led the board, reporting the largest growth in occupancy: 33%.
Tel Aviv also reported a high revPAR increase, rising 20% to €118. Cologne's revPAR also jumped, by 26% to €89.
STR Global said that Europe saw the best monthly revenue per available room between October 2008 and 2009, when compared to other global regions.
Ms Randall said: "European revPAR only fell 1.6 percent, boosted by a 0.7-percent increase in ADR in U.S. Dollar terms compared to October 2008."
"This is good news," said Ms Randall, "but it needs to be noted that Europe was the first region that saw strong RevPAR declines in the last quarter 2008."