London Tops European Hotel Survey
JANUARY 12, 2007. London has been ranked top European market in revenue per available room (RevPAR) for 2006, according to data presented by professional services firm KPMG and global benchmarking provider The Bench.
London achieved a RevPAR of EUR166.63, up 18.49% on last year. This was driven by an average room rate (ARR) of EUR205.30 and Occupancy of 81.7%. London was closely followed by Moscow, boasting the highest ARR at EUR222.53 ranking second in absolute RevPAR (EUR161.78), up 15.1% on last year. Dubai ranked third with an absolute RevPAR result of EUR156.03.
Global figures for 2006 show improved performances worldwide with RevPAR growth in Europe rising by 11.61%; USA up 7.5% and Asia Pacific increasing by 20.12%.
Nick Pattie, Director at KPMG's travel, leisure and tourism practice commented: "The continuing growth in 2006 RevPAR across all markets is impressive and has exceeded previous peak performances for some destinations. There is still headroom for further growth in many regions, especially Asia, although the slowing level of US growth may be an indicator of nearing the top of the cycle within the next couple of years. We see 2007 as maintaining a strong performance in Europe."
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