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Analysis

Imperial Vienna shines bright like a diamond

Vienna, a major European business tourism city, is a central international meeting place. Its cultural heritages, both artistic and intellectual, as well as its numerous congress centres attract both business and leisure tourism.

Capital of Austria with a rich and varied heritage, Vienna has seen great names in music, art and science, such as Mozart, Klimt and Sigmund Freud, live. The many imperial palaces, museums and historic residences give the city a strong appeal to leisure visitors. In addition, the city benefits from the quality of its infrastructures such as its river port, its motorways connecting it to Germany, the other countries of Central Europe, Italy and the Balkans.

The numerous headquarters of world organizations, such as the International Atomic Energy Agency (IAEA), the United Nations Industrial Development Organization (UNIDO) and the Organization of Petroleum Exporting Countries (OPEC), together with the 3 congress centres in Vienna, make the city a centre MICE for activity. Thus, the Austrian capital ranks 2nd worldwide in the ICCA ranking of cities hosting international congresses (186 in 2016), events that bring significant business to hotels.

The year 2017 was marked by numerous movements among hotel chains, resulting in an increase in its chain supply by 982 keys, bringing it to 21,531 rooms. The arrival of the Marriott Group's Moxy Hotel on Vienna's market is particularly noteworthy in the mid-range segment, and the opening of the first 7 Days Inn of the Chinese group Jin Jiang marks the start of an important investment on their part, the group expects to open 6 properties of this brand by August 2018.

In terms of arrivals, Vienna broke new records in 2017 with an historically high occupancy rate of 76.1% (+1.7 points), whose growth has slowed in recent years. Average daily rates, on the other hand, after rising again in 2015, continued the decline starting in 2016 (-0.6% to €100.9). Despite this, the RevPAR increased by 1.6% to €76.7.

Find all our analyses for Vienna and Austria, alongside details of the supply and performances per segment, in the European Hospitality Report Austria 2018, available on our store.

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