European hotels experienced a record year in 2007, according to a survey by industry analysts Deloitte.
According to its HotelBenchmark Survey, consistent business and leisure demands saw overall revPAR grow 6.6 percent to reach €85 in 2007.
Hotels in Central and Eastern Europe saw the strongest performance, with revPAR increasing 6.9 percent.
Northern Europe also had a good year with revPAR up 6.4 percent.
Iceland’s capital Reykjavik saw an increase of 11.3 percent, reversing its decline of 2006.
Deloitte executive director of HotelBenchmark Lorna Clarke says it has been a good year for European hoteliers, despite the lack of sports and cultural events compared to 2006.
Hotel performance in 2008 is expected to be held back as the pace of worldwide economic growth slows, the report concludes.
By Felicity Crump