The revenue per room in Europe posts a record drop by 12.2 %. Occupancy is in a freefall ( - 7.9 pts) and average daily rates are also following this downtrend (-1.0%). Up- and midscale segments are particularly impacted by the economic slump.
November 2008 will go down as one of the darkest months in the decade. One has to go back to April 2003 (-13.5%), due to the beginning of Gulf War II and the SRAS crisis, to find any trace of a double-digit drop in a European RevPAR. Worse still, in the last ten years, only two other months received...
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