Optimism is in order for European hoteliers. After having posted an increase in their indicators over the month of September, they are seeing their activity once again increase over the month of October 2013, thanks in particular to the resumption of Business and MICE activity after the summer break.
The highest Revenue per available room increase occurred in Denmark, which benefitted from the dynamism of its MICE market for a record increase of 12.3% in RevPAR this month. Not far behind, Germany's RevPAR was up 10.5% due to a 2.9 percentage point rebound in its occupancy rate and 6.3% in its average daily rates. The Business and MICE activity picked up again after September 2013, particular with the Frankfurt Book Fair, between October 9th and 13th. To this is added Oktoberfest, which was attended by some 6.4 million people in Munich between September 21st and October 6th. The recovery appears to be continuing in southern Europe, particularly in Portugal (+6.8% RevPAR) and Italy (+6.4 % RevPAR), while Spain pulls the average down (-1, 5% RevPAR), after a very good summer season which extended through September. Among the worst European students, Hungary remains well below the continental average and shows a 9.1% decrease in RevPAR.
After many months in the green for monthly changes in hotel indicators, the European hotel industry has been progressing over the first 10 months of the year. At the end of October 2013, the Old Country's revenue per available room was improving by 1.5%, to 64.1 euro.
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