The latest data from HotStats indicate a mixed bag for hotels in Dublin, Istanbul and Frankfurt.
Dublin had a great 2016 with nearly 20% growth in profit, following a profit growth of over 30% in 2015, and the city’s hotels are still seeing “remarkable” growth in top- and bottom-line performance.
In contrast, hotels in Istanbul recorded a year-on-year profit level drop of over 50% and RevPAR drop due to a 4.2% decrease in room occupancy. This drop was seen across foreign domestic arrivals and the commercial segment, leading to further cost-cutting.
The third city profiled, Frankfurt, saw flatlining in RevPAR and 0.4% increase in occupancy wiped out by a 0.4% decline in achieved average room rate. Howeverthere was growth in non-rooms revenue, including F&B and conference & banqueting. There was also a 0.6% saving in overheads on a per-available-room basis.