Hoteliers in Budapest, Istanbul and Paris enjoy significant increases in profitability
Budapest, Istanbul and Paris registered strong increases in profit per room for November led by robust year-on-year growth in achieved average room rate, according to the latest HotStats survey by TRI Hospitality Consulting.
Despite a 1.5 percentage point decline in room occupancy, hoteliers in Istanbul were able to successfully record a 17.6% increase in achieved average room rate to €193.97. In contrast, in addition to increases in achieved average room rate performance in both Paris (+6.1%) and Budapest (+8.4%), these capital cities also successfully recorded room occupancy increases of 7.7 percentage points and 4.9 percentage points, respectively, which contributed to significant increases in Revenue per Available Room (RevPAR).
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