Demand for European hotels in 2014 was one of the highest in the last 10 years for a year period, new STR Global statistics have found.
In 2014 Europe reach 1.1 million room nights sold, with the average daily rate close to pre-recession levels at EUR106.09 (compared to EUR107.02 in 2007).
“Since 2011, Europe has surpassed its demand pre-recession peak, and demand growth has continued to go from strength to strength, increasing the number of rooms sold each year”, said Elizabeth Winkle, managing director of STR. “Over the last four years, Europe’s international arrivals grew by more than 20 million arrivals each year. Europe commands more than half of global international arrivals, which is forecast to continue into 2015”.
While occupancies are higher the market will be concerned by the economy and value in the Euro, although the UK was cited as a ‘major contributor’ to growth in Northern Europe, which was a ‘star performer’ in the regions.
Recovery in Greece, Spain and Portugal ensured Southern Europe also saw a boost and Western Europe was relatively flat.
Eastern Europe was the only region to see a decline mainly due to a decrease in Russian travellers to the area and the devaluation of the Russian ruble.
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