Source: Hospitality Trends
2017 was good for the hotel industry in Europe. In fact, this is a record year of all times, reflected both in private tourism and in business tourism.
The previous record was in 2008, just before the effect of the big financial crisis (the sub-prime crisis). The gap between the two peaks is 10%.
The data were presented at the International Hotel Investment Forum.
The most interesting figure is the average dailyized rate (ADR) that grew in 2017 at a double-digit rate compared to the 2008 peak year.
Additional data published at the same forum show that the year 2018 opened with a surge, with an unprecedented annual increase of 16% in January.
Selected Quote
“While hotel performance was up for nearly every world region in 2017, Europe was the clear leader in terms of growth. The region has seen substantial growth in both tourism and corporate business, and has remained resilient in the face of several terror attacks, with increasingly shorter turnaround periods needed for performance recovery”
Published on: March 5, 2018
Source language: English