HOSTA 2007 report | Benelux Hotel Results Moving Towards New Records
The results of the Benelux hotels have improved considerably. The HOSTA 2007 report, published by Horwath HTL, shows that the average room rate for a hotel in Amsterdam has achieved a record high last year, and will increase further in the coming years. The rest of the Netherlands also shows increasing average room rates. In Belgium and Luxembourg the rates are not increasing as quickly, but the average occupancy does show a strong increase.
The Netherlands
The research shows that the average occupancy in The Netherlands has increased from 69.2% in 2005 to 72.1% in 2006. At the same time, the average room rate increased by over 10%, from € 98 to € 108. It is the first time that the average room rates in The Netherlands are increasing since the collapse in 2003 following the continued economic crisis. With the increased occupancies and average room rates the RevPAR, the revenue per available room, increased by over 14%, from € 68 to € 78. In the Amsterdam and Schiphol region the RevPAR increase was more than 21%, from € 90 to € 109. The revenues in teh Amsterdam hotels are now at the highest levels ever recorded. The total revenue per available room, including food & beverages, conference rooms and other revenues, has also increased. The average hotel room in The Netherlands achieved a TRevPAR of € 134 in 2006, almost 10% more than in 2005.
Belgium and Luxembourg
The developments in Belgium and Luxembourg are also positive. The average occupancy has increased from 64.7% in 2005 to 69.7% in 2006. The average room rate showed a small increase from € 91 to € 92. The RevPAR increased by 8.5% from € 59 to € 64, mainly because of the higher occupancies. The total revenues per available room showed a stronger increase in Belgium and Luxembourg: from € 88 to € 104. Both the occupancies and average room rates in Belgium and Luxembourg are still well below the level in The Netherlands. The differences are even greater in the capitals. The average room rates in Amsterdam & Schiphol (€134) are 34% higher than in Brussels (€ 100) and almost 49% higher than in Luxembourg (€ 90). In the greater European area however, Amsterdam is only at the second tier. Other research has shown that much higher average room rates have been achieved in London (€ 186), Paris (€ 200) and Geneva (€ 274). Amsterdam does have the second highest occupancy (81.2%) inEurope, after London. Brussels (74%) and Luxembourg (63%) are still well behind.