Istanbul and Brussels hotels are leading the charge as European properties report a successful month in July, according to the latest data from Hotstats.
The once-ailing capital cities, which have each suffered from terror attacks and security threats, have benefited from higher occupancy figures as tourists return. The findings have been released in Hotstats’ July 2017 report, Cost Cutting Contributes to Bumper Month of Profit Growth Across Europe.
Istanbul hotels saw a year-on-year increase in occupancy of 36.6 per cent in July, driving up average room rates by 22.1 per cent to €59, while Brussels’ average occupancy went up by almost 18 per cent. Hotstats CEO Pablo Alonso said: “The growth in the challenged markets this month will provide some welcome respite to owners and operators of properties in those locations. And whilst it is almost a false positive, Istanbul hoteliers will toast the growth as it comes amidst extremely challenging trading conditions, which have been as a result of significant additions to stock, political uncertainty and terrorist activity.”
Brussels hotels hotel numbers grew 17.9 per cent and average room rates fell 0.2 per cent to €120. Looking at the European average, hotel occupancy grew an average 2 per cent to 78.4 per cent and average room rates went up 3.1 per cent to €166.40. Hotels also recorded an increase in food and beverage (5 per cent) and conference and banqueting (7.2 per cent).