Xotel's European Hotel Market Analysis Report Q2 2012

July 19, 2012 (PRLEAP.COM) Business News
While Banks and governments are struggling, the travel industry is definitely rising in Europe. Regardless of the economical challenges in the financial market over the last few months, the European hotel industry is showing strong results. Xotels reports a 9,8% RevPar growth in Q2 for its independent hotel portfolio.

According to the CEO of Xotels, both corporate and leisure travel are on a rebound. City destinations are benefiting from conferences, congresses and exhibitions, while weekends and holidays are flourishing in destinations across Europe. Even the weaker leisure markets like Brussels are showing a small hotel performance increase.

The Dutch hotel results show an 11% RevPar growth in Amsterdam and a 10% increase in Maastricht. The statistics show a decent hospitality growth in Belgium as well. Even though Spain is going through some rough times, travellers are not staying away. Xotels increased performance in Mallorca by 8%, and 16% in San Sebastian.

The Performance outlook for Q3 is looking promising for Xotel's resort properties. Xotels city markets are holding ground compared to last year and there will probably be some incremental growth. Further more, Xotels expects to offset the lower demand by launching promotional campaigns to unload distressed inventory on some of the weaker summer destinations.

For more information on hotel performance management visit Xotel's revenue management blog.