Italian Hotels Continue To Achieve The Highest Revpar's In Europe - Deloitte Reports
Year-to-July 2003 figures from the Italian edition of the HotelBenchmark Survey by Deloitte & Touche reveals that despite falling occupancy levels and average room rates, Italian hoteliers still managed to achieve higher rooms revenue per available room (revPAR) than many of their European counterparts.
During the first seven months of the year, the revPAR of Italian hotels stood at EUR92 - some EUR24 higher than the UK, EUR27 higher than the Netherlands and EUR48 higher than Germany. Compared to the performance of hotels across Europe as a whole, revPAR in Italy is EUR31 higher. Despite this sterling performance, the Italian hotel market has seen revPAR fall over the last seven months by almost 8 percent. In percentage terms, although this is higher than the revPAR declines experienced across Germany and Belgium, this remains lower than both the UK and the Netherlands, which have seen revPAR fall by 14.7 percent and 14.5 percent respectively.
Italian hoteliers appear to have taken a tougher stance on discounting their rates, compared to other countries. Year-to-date figures show that average rates have fallen by only two percent compared to the same period last year, whilst the UK and the Netherlands have seen rates fall by 13.5 percent and 5.9 percent respectively. Unsurprisingly this means that occupancy has come under pressure, falling by 6 percent to just below the 60 percent mark.
Of the six cities tracked across Italy, Turin was the only market to report any growth in revPAR during the first seven months of the year, albeit
marginal at 0.2 percent. Florence, Rome and Venice experienced the largest
declines in revPAR of 15.1 percent, 11.8 percent and 10.8 percent respectively. These markets, with their high dependency on leisure demand have continued to suffer from the decline in international visitor arrivals, in particular from the North American and German markets.
The HotelBenchmark Survey contains the largest independent source of hotel performance data outside of North America and tracks the performance of over 6,000 hotels and 1.1 million rooms every month. Four regional monthly rate and occupancy reports are produced covering Asia Pacific, Caribbean and Latin America, Europe and the Middle East & Africa. These are supplemented by country reports for Australia, Belgium & The Netherlands, Germany, Italy, New Zealand, South Africa, the UK and a city survey for London. Annual profitability surveys are run across all regions of the world, whilst in Germany and London monthly profitability surveys are conducted.
For further information on the Italian edition of the HotelBenchmark Survey please contact Konstanze Auernheimer on +44 (0) 20 7007 0928 or