Hotels Updates Digest Europe Report

Occupancy rates, as in most markets, have fallen during themonths of September and October as non-essential travel was cut andleisure demand cancelled across the world. The month of Septembersaw occupancy levels in quality hotels fall by 11.8% to 76.1%,while October saw a further slide of 14.7% to 66.7%. By comparisonParis, Rome, Milan, London, Budapest and Berlin all saw falls inexcess of 20%.

Despite this, Richard Eaton-Hart, Senior Vice President at JonesLang LaSalle Hotels, points to the stability in hotel room ratescompared to other major European cities which are witnessing up toa 15% fall in average rate. Quality hotel room rates in Brusselsfell by only 0.8% to €130.41 ($116.22) during the month ofSeptember. Again the drop in October was limited to 0.5% to €118($105.16). He attributes this to Brussels' lesser reliance on theUS sector. 'Quality hotels in Brussels source only around 15% oftotal demand from the US market, compared to 45% in London, 35% inParis and Rome and 24% in Amsterdam,' he says. 'Thus the city hasnot taken such a hit from one individual market'.