Italy’s data shows steep drops in October
The latest hotel performance data available from STR Global shows Italian revenue per available room dropping 20 percent to €99 for October. Italian hoteliers have seen declines in RevPAR since May 2008, and October was no different as Turin was the lone major city to report RevPAR growth—it was up 18 percent. . Across Italy, October occupancy dropped 13 percentage points from October 2007 to 66 percent, and the month’s average room rates declined 9 percent from last year to €149. The October results worsen the year-to-date figures when compared with year-to-October 2007. The first 10 months of 2008 show a 6-percent occupancy decline to 61 percent, a 2-percent drop in average rate to €150, and an 8-percent decrease in RevPAR to €92.