MANCHESTER Hotels are currently the best performing hotels in the UK and among the best performing in all of Europe, according to data compiled by STR Global.
Occupancy rates in Manchester are showing their strongest performance since pre-recession peaks in 2006-07.
The Manchester hotel market was one of only seven across Europe to record an ADR (average daily rate) year-on-year increase of more than 10% to €94.32 in October 2014:
- Geneva, Switzerland (+14.6% to €243.28)
- Manchester, England (+12.9% to €94.32)
- Lisbon, Portugal (+12.0% to €97.86)
- Amsterdam, Netherlands (+11.1% to €161.27)
- Paris, France (+10.8% to €295.21)
- Budapest, Hungary (+10.4% to €75.37)
- Edinburgh, Scotland (+10.2% to €99.14)
Manchester hotels were also one of only six markets to achieve a RevPAR (revenue per available room) year-on-year increase of more than 15% to €79.78 in October 2014:
- Athens (+27.8% to €85.01)
- Geneva (+20.6% to €173.46)
- Lisbon (+20.4% to €83.12)
- Madrid, Spain (+18.3% to €74.87)
- Budapest (+18.2% to €58.64)
- Manchester (+15.3% to €79.78)
Occupancy rates in Manchester are showing their strongest performance since pre-recession peaks in 2006-07, with Marketing Manchester recording a rate of 78% in the first eight months of 2014.
The city's hotels helped the UK industry to record a strong year from October 2013 to October 2014 with 81.9% occupancy (a year-on-year increase of 2.4%), compared to 76% in Germany, 73.1% in Spain, 72.6% in Italy and 57.5% in Russia.
UK hotels also recorded an ADR increase of 3.4% and RevPAR increase of 5.9% for the year.
Managing Director of STR Global, Elizabeth Winkle, said:
“Each month this year, Europe has reported either flat or positive performance in the three key performance metrics. October performance was no different. Actual average daily rate (€110.42) for the month was the highest rate we’ve seen in any October in the past ten years."
Tourism is estimated to generate £6.6bn a year for Greater Manchester.
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