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October 2015: Europe's hotel industry pursues growth

While the hotel business has remained dynamic in most European countries in October thanks to the organization of several events on the continent, some destinations have nonetheless shown signs of weakness.

Europe's hotel industry successfully maintained its occupancy rate close to 75% in October, which was 0.9 points more than on the same period the previous year. 4.7% growth in the Revenue per available room (RevPAR), to 72 euros, may nonetheless be attributed to the 3.4% growth in average daily rate, which reached 96 euros. Improved results may be observed in most hotel categories, although it is more evident in the upscale range (+6.7% RevPAR) than the midscale (+3.6%), economy (+2.5%). In the budget segment, the trend is more toward stagnation (+0.7%).

Monthly results of hotel chains by country
October 2015

On the period, the strongest increase in RevPAR was recorded by hotels in Denmark, where the occupancy rate shot up by 12.9 points. The Denmark Open 2015 drew crowds to the city of Odense between the 13th and 18th of October. Other destinations also benefited from the organization of events with an international reach such as the World Rugby Cup in the United Kingdom (+8.3% RevPAR), the last act of Expo Milano in Italy (+19.9% RevPAR), and several biennial gatherings in Spain (+19.5% RevPAR). The presidency of the European Union continued to boost hotel activity in the Grand Duchy, where the RevPAR is up by 21.8% on the month. Elsewhere in Europe, the sector has nonetheless shown signs of weakness. While hotels in the capital deplored the dearth of biennial events such as International Car Show last year, France ended the month with a 5.9% drop in its RevPAR. The situation is even less joyous in Greece (-13,4% de RevPAR), where talk in the media about the migrant crisis throughout Europe has dissuaded tourists from going to resorts at the destination for its Indian summer, although it will not ruin the country's excellent annual results.

Results of hotel chains by category
January-October 2015

In light of results observed since the beginning of the year, Europe's hotel industry continues to grow. Between January and October, the 1.4 point increase in occupancy rate and the 3.4% increase in average daily rate enable 5.5% growth  in its RevPAR. The terrorist attacks that hit Paris in November in Paris thus have an impact on the activity of Europeans at the end of the year.

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