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PwC: European hotels 'remain resilient'
Hotels in Stockholm, Sweden, and Istanbul, Turkey, are expected to see double-digit growth in revenue per available room (RevPAR) for 2011 and 2012, according to new research.
PricewaterhouseCoopers (PwC) has published new analysis of European hotel performance across Europe, with many of the continent's prominent cities demonstrating resilience.
London, UK; Paris, France; and Amsterdam, Netherlands, were also highlighted by PwC for showing a "particularly strong recovery" as business travel continues to rebound.
PwC has predicted that Stockholm will be the only city in 2012 to see double-digit RevPAR growth (17.3 per cent), with London set to report an 8.3 per cent increase.
Liz Hall, head of hospitality and leisure research at PwC, said: "In 2012 we anticipate only Stockholm will manage double figure RevPAR growth, reflecting Sweden's strong recovery from recession, although its economy is expected to slow in 2012.
"Even London hosting the Olympic Games won't push double figure RevPAR growth for the UK's capital. We expect RevPAR growth for the year as a whole of 8.3 per cent, although the third quarter will clearly be very strong."
However, Hall added: "The stellar performance of these global cities may not reflect the state of the hotel sector in the country as a whole. Many provincial markets continue to face challenging conditions, with weak domestic demand."
Details: www.pwc.com
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