Despite the world’s economic turmoil, hotel transactions for the first half of 2011 were over double the figure for the same period in 2010, a Deloitte survey reveals.
According to the survey, 51% of respondents found current trading to be better than expected, while 12% said trading was worse.
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Nick van Marken, Deloitte global head of advisory, travel, hospitality & leisure, said that although many cities in southern Europe were lagging behind their peak levels, the majority of major European markets have seen improved year-to-date (YTD) performances.
London registered an 11% higher revPAR for the YTD compared with 2010, 13% ahead of the previous peak.
Of the respondents surveyed, 46% highlighted the UK as the most promising European market in terms of future hotel development, followed by Germany with 30% and France with 16%.
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