European hotels enjoyed a "remarkable" year in 2006 with revenue per available room (revPAR) rising by 12% to $102, according to a new HotelBenchmark Survey by Deloitte.
This was almost double the growth the hotels achieved in 2005.
Deloitte said the increase was helped by major sporting events including the Winter Olympics in Italy, the Football world Cup in Germany and the America's Cup yachting in Spain.
2006 also saw a 3.1% rise in occupancy to 69.9% and an 8.7% increase in average room rate to $146.
Other regions, including the Middle East, Asia and Central and South America also achieved significant rises in revPAR of, respectively, 16.5% to $97, 11% to $87 and 13% to $71.
Lorna Clarke, executive director of HotelBenchmark said: "2006 has been an excellent year for the hotel industry with all regions managing to achieve double-digit growth - and many seeing this for the second and third consecutive year."
American reports first profit since 2000
American Airlines, regarded as the biggest carrier in the world, reported a profit of $231m for 206, its first surplus since 2000.
The figure is in stark contrast to the $857m loss the airline endured in 2005.
The turnaround in 2006 saw American, a leading member of the oneworld Alliance, make a profit, in the last three quarters of 2006.
This included a net $17mprofit in the last three months compared with a $600m loss for the same period in 2005.
Gerard Arpey, AMR chairman and ceo, said: "By producing a fourth quarter and full year profit for the first time since 2000, the people of American Airlines made 2006 a proud milestone in our ongoing turnaround.
"We executed on every facet of our Turnaround Plan - from bolstering our financial and competitive positions to investing in our product and strengthening our employee pension plans.
"With the combined effort of the entire American Airlines team, we expect to build on our momentum in 2007."
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