Hotel occupancy in the CEE region increased to 68 percent during the first six months of the year. The average daily rate (ADR) also increased by 8 percent y-o-y to €112, while Revenue per Available Room (RevPar) jumped by 11 percent to €76, according to the most recent hospitality market research conducted by Cushman & Wakefield Global Hospitality Group.
“The main factors driving growth in 2015 include the continued strength of inbound international tourism into Europe supported by Asian travelers, a strong dollar driving demand from Americans and the challenges in North Africa that pushes leisure travelers to stay in Europe,” says Frédéric Le Fichoux, head of Cushman & Wakefield’s CEE hospitality team. Prague, Budapest, Bratislava and Warsaw are among the cities in the CEE region that have benefited the most from these macroeconomic factors. Prague outperformed all other mentioned cities in ADR (€80.3, growing by 10.4 percent y-o-y) and in RevPar (€54.7, growing by 18 percent y-o-y). A total of 727 rooms are expected to be added to the market by 2017 in three to five-star segments.
