Hotel prices in cities across Europe have fallen for the first time since the beginning of the year, as sovereign debt fears across the Continent, and the spectre of a double dip recession, spark travellers into cutting travel expenditure.
Radisson is Europe’s number one! With 170 hotels and a total of 38,079 rooms across the continent, Radisson is Europe’s largest upscale hotel brand – unifying Radisson Blu and Radisson Edwardian hotels and leaving Hilton International with 146 hotels and 37,806 rooms as well as Marriott with 86 hotels and 20,806 rooms behind (source: “Upscale Brands Top 10 in Europe” by MKG Hospitality, Paris).
The current year for the Europe hotel trade is likely to be one of recovery rather than growth, predicts STR Global.
HotelsCombined.com, the world’s leading hotel meta-search engine, announced today their new supplier agreements with European online travel agents—HRS (Hotel Reservation Service) and Hotelopia, part of TUI Travel PLC (LSE: TT).
The European hotel industry posted mixed year-over-year results when reported in U.S. dollars, euros and British pounds for June 2009, according to data compiled by STR Global.
Being the least worst is never a high accolade, but in the face of a very tough market the performance of Germany’s main cities is commendable. The May 2009 edition of the European Hotel Review, published by STR Global, the leading provider of market information to the world’s hotel industry, shows German cities taking the top five positions for annual change in revenue per available room (RevPAR) for the year-to-May 2009.
European hotel prices are seven percent cheaper in comparison to July 2008, with Spanish cities clocking up the biggest falls.Madrid topped the list, with the average price of a hotel room falling to £74, down 31 percent from £107 in July 2007. In Barcelona the average hotel price is 94 pounds, 28 percent less than July 2008.