Bargain Hunting for Luxury Hotels - A Comparison Of The Luxury Hotel Markets In Berlin, Prague And Warsaw
Which Capital City Provides The Best Value
The capitals of three neighbouring countries – Berlin, Prague and Warsaw – have a reputation for being affordable destinations. These cities are also home to a large number of international-standard luxury properties, so guests might wonder, 'where can I get the best value for money?' To answer this question, we analysed the characteristics of the luxury hotel markets in these cities. By examining the dynamics between supply and demand, we explore how occupancy and rates vary amongst the three markets, illustrating how luxury hotel rates compare to those of upscale hotels. From a guest's point of view, a luxury hotel is affordable and provides a good value proposition if the price difference to the upscale category justifies the superior quality and extra services. So getting value for money means happy guests, but what about the hoteliers? From their perspective, it's all about maximising rooms revenue per room (RevPAR) and bottom-line profits; thus, we provide an illustration of the RevPAR dynamics across the three markets.
About HVS
HVS is the world's leading consulting and valuation services organization focused on the hotel, restaurant, shared ownership, gaming, and leisure industries. Established in 1980, the company performs more than 4,500 assignments per year for virtually every major industry participant. HVS principals are regarded as the leading professionals in their respective regions of the globe. Through a worldwide network of over 50 offices staffed by 300 experienced industry professionals, HVS provides an unparalleled range of complementary services for the hospitality industry. For further information regarding our expertise and specifics about our services, please visit www.hvs.com.
