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In July 2014, Europe’s hotel industry takes it easy

Like mercury Europe’s hotel performances climbed this half of the summer season, bolstering the uptrend observed since the beginning of the year.

In July, the 1 point and 1.2% growth in occupancy rates allowed the Revenue per available room (RevPAR) for hoteliers on the Old Continent to grow by 3.1%. All categories benefited from the ambient heat except budget hotels, where the RevPAR dropped by 1.1% on the entire month due to the 1.2 point drop in occupancy rate. Growth in the RevPAR thus achieved a 3.7% increase in the mid and upscale categories.

During this summer period, Southern Europe fully benefited from flows of sun seeking vacationers and affordable destinations, in a tense economic context. Spain has, for example posted record arrivals with 8.3 million tourists in July, for a 4.8% increase in Revenue per available room for its hoteliers. Portugal has, meanwhile, posted some of the best growth in RevPAR on the continent (+12.1%), benefiting in particular from the success of several summer festivals. Hungary takes the prize for highest increase in Revenue per available room (+12.9%), thanks to several athletic events such as the European Water Polo Championships. The United Kingdom is also following a good dynamic (+7.6% RevPAR). In addition to traditional tourist arrivals in its capital, the country organized the European Congress on Biotechnology in Edinburgh, which is held every two years. Denmark and Belgium also ended the month with honorable results: respective increases in their RevPAR by 8.6% and 7.7%. The only problem in Europe is the weak performance of hotels in Poland and France (RevPAR down by -1.9% in each of these countries), with France being affected by the increase in the VAT on January 1, 2014 and the country's economic slump.

Europe's good results in July further reinforce the uptrend observed since the beginning of the year. On the first seven months of 2014, Europe's RevPAR is thus up by 2.4% thanks to the 1.2 point increase in occupancy rates and the 0.6% increase in average daily rates.

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