European hotel demand outpaces North America
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Demand growth for hotels in Europe has surpassed the rise in North America for two months in a row.
According to new data from STR Global, Europe has seen 3.2% growth in a 12-month rolling basis in November this year, compared to 2.2% for North America.
Year-on-year figures show occupancy in Europe for November to be up 3.9% to 67.3%, with the average daily rate up 3.7% to GBP81.93.
Greece has bounced back with a 16% boost in occupancy, while the key cities in Germany, Italy, Spain and the UK still continue to see increases in occupancy, average daily rate and RevPAR.
In the UK specifically hotels are 76.2% full, up 4% compared to November 2012 and with daily rates up 3.8% to GBP83.15.
Tel Aviv, Israel and Vilnius, Lithuania were amongst the cities to see increases during November, while Istanbul suffered a 6.4% drop in occupancy and 13.3% fall in RevPAR.
“Throughout the recovery, North America has steadily outperformed Europe in terms of demand growth on a 12- month rolling basis”, said Elizabeth Winkle, STR Global’s managing director. “However, in October 2013, demand growth for Europe began to outpace the demand growth of North America and this continues in November as well”.
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