Bucharest registered the highest drop in Europe of the occupancy rate in 2008

According to the annual report of Deloitte Touche Tohmatsu, the occupancy rate of hotels in Bucharest registered one of the highest decrease in Europe in 2008, dropping by 19.6%, down to 57%, as a result of the deterioration of clients confidence, the lack of financing and reduction of travel expenditures.

While the hotel supply in Bucharest increased significantly in 2008, the revenues per available room (revPAR) decreased by 12.7% down to USD 96.

George Mucibabici, president of Deloitte Romania consultancy company stated that due to the fact that perspectives are unfavourable for the next period, tourism industry will focus on surviving strategies this year. As tempting as it might be, dropping accommodation tariffs can’t provide a long-term solution. Hotels have to highlight the quality of services, innovator incentives and strategies to differentiate from competition. 

It is important that authorities and the industry should focus on projects envisaging the development of tourism infrastructure, such as expanding airports or developing hotels, which will become the basis of long term growth, stated the representative of Deloitte.

Globally, the highest occupancy rates over 80% were registered in Perth, New York, Abu Dhabi, Hong Kong, London and Hurghada. In the top of revenues per room, Moscow was the leader, followed by Dubai and Geneva with revenues of USD 230-250 per room.   

According to the study, the most expensive hotels in 2008 were those in Moscow with USD 374/ room, Geneva with USD 343/ room and Dubai with USD 300/ room, increasing by 13.5%, 20% and 6.5% respectively.

Sursa: Bloom Biz [09.03.2009], Cotidianul [09.03.2009], Daily Business [10.03.2009], Financiarul [09.03.2009], Gandul [09.03.2009], Mediafax [10.03.2009], Business Standard [09.03.2009], Travel Manager [10.03.2009], Wall-Street [10.03.2009], Ziarul Financiar [10.03.2009]