Bucharest: the lowest occupancy rate in Europe in Q1

In the first quarter of 2009, Bucharest was the capital registering the lowest hotel performance in Eastern and Central Europe, according to CB Richard Ellis Hotels.

In Q1, Bucharest registered the highest drop in occupancy rate in the region, of 26.4% compared to the first three months of 2008.

Warsaw had an occupancy rate drop of 21.6% compared to the same period in 2008.

In both cases, the local currency faced a significant depreciation compared to the American dollar and euro.

The lowest decrease in the region considering the hotel results was registered in Vienna, of 12.6%. A critical factor for this situation was the drop in passenger’s number on Vienna’s airport, by 14.8% in the first three months of 2009.

In Bratislava, Budapest and Prague, the occupancy rate dropped in Q1 by 25.8%, 24.1%, respectively by 22.9% compared to the same period in 2008.

Nevertheless, CB Richard Ellis Hotels consider the results of hotel chains will improve starting this summer.

Sursa: Capital [05.05.2009], Curierul National [06.05.2009], Business Standard [06.05.2009], Ziarul Financiar [06.05.2009]