European city hotels continues with higher occupancy rates in spite of political uncertainties

Published on : Monday, March 6, 2017

European city hotelsAmerican and Asian tourists keep on flocking European city hotels, giving a major push in revenue and hotel occupancy in 2017. The main city destinations are:

 
Porto stays at the top with 15% RevPAR growth forecast in 2017. Followed by Dublin, the city is expected to have the highest occupancy levels in Europe this year. Portugal, Spain, Greece and Ireland have been predicted to witness strong economic growth. Geneva is the most expensive European city in the world. European M&A transactions has been recorded as the second highest level ever at c. €19bn. PwC’s sixth European Cities Hotel Forecast reviewed last year’s performance and 2017-18 prospects for 17 European cities [see Notes] – all national or regional capitals for finance, commerce and culture.

 
The review concludes that most of the cities other than Geneva and Zurich will receive revenue growth this year with additional growth in 2018 except Geneva and Zurich.

 

Measured by Revenues per Available Room (RevPAR), Porto tops the 2017 growth table with 14.8% RevPAR forecast growth. Next is Dublin (8.7%) and Budapest (6.8%), Madrid (5.9%), Lisbon (5.6%), Prague (5.5), Barcelona (5.4%), Frankfurt (4.5%) and Paris (3.6%).

 
In local currency, Porto is expected to maintain its double digit revenue growth at 12.8% in 2018. Next goes with Budapest (9.9%), Madrid (8.2%), Dublin (7.4%), Lisbon (6.8%), Paris (5.8%), Barcelona (5.2%), Berlin (3.1%) and Frankfurt (3%).

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