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Recovery of the profits of European hotels in 2004

Recovery of the profits of European hotels in 2004

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According to the Annual Report on Hotel Profitability made by Deloitte, European hotels achieved a 7% increase in profit per available room in 2004. The hotels generated an additional profit of 1.000 Euros per available room last year, reaching 15.000 Euros, compared to the 14.000 Euros obtained in 2003. Germany gathered some of the best […]

According to the Annual Report on Hotel Profitability made by Deloitte, European hotels achieved a 7% increase in profit per available room in 2004. The hotels generated an additional profit of 1.000 Euros per available room last year, reaching 15.000 Euros, compared to the 14.000 Euros obtained in 2003.

Germany gathered some of the best profitable markets, thanks to the push of the biannual tradefair cycle. The profits reached in Dusseldorf increased 76% mainly as a result of the increase of 7.000 Euros in the total income. With the costs under control, the increase in income resulted in a profit per available room of 8.000 Euros in 2003 and 14.000 Euros in 2004. Another star market was Stuttgart, whose profit has increased 17% compared to the previous year.

Throughout 2004, Eastern European markets were the most outstanding: most of their cities achieved a raised profit per available room. This fact is due to the growth in profits in Prague and Budapest, who have experimented growth in their profitability of 20 and 19%, respectively. Moscow occupied the first position in the conversion of income into profits. Among the 23 cities analysed by the European Profitability Report, Moscowâ

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