After a month of July that was already good for Europe’s hotel industry, summer growth continued and increased in August on the Old Continent.
Summer ended on a positive note for all European countries, who saw their occupancy rates increase. Portugal follows the momentum begun in July and posts record growth in its RevPAR (+23.9%), which was made possible by a price spike (+14.5%) that allowed it to come close to Spain's average daily rates while remaining a particularly attractive destination. Portugal benefited in particular from an increase in the number of nights generated by foreign and domestic clientele, particularly thanks to the economic recovery begun in the country. Spain confirms its excellent year of tourism with a number of foreign visitors up by 7.3% on the first 8 months of the year with respect to 2013. Spain also saw a new increase in its RevPAR by 11.8% in August.
Hungary continues to post solid results in the second half of the summer (+15.6% in the RevPAR), while Belgium benefited from its summer festivals to record an increase in occupancy and growth in the RevPAR. Italy's hotel industry, which saw only moderate growth in its performances in July, improved in August with a RevPAR up by 7.4%. Another noteworthy fact, after a beginning of the summer that was down, France and Poland finally improve with growth in the RevPAR by 5.7% and 4.5% in August. Denmark was the exception to the August revival with a drop in its average daily rates and RevPAR after a good July thanks in particular to events such as the Alzheimer's Association International Conference.
Summer continued Europe's context of recovery that is underway since the beginning of 2014: on the first 8 months the RevPAR of Europe's hotel industry grew by 3%, thanks to a 1.4 point increase in the occupancy rate and the slight increase in Average daily rates (+0.9%). France differed as the only European country where there was a drop across all its indicators on this same period, although it has shown improvement in its more recent trend.
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