Hotels in Istanbul experienced the
biggest decline in both revenue per available room (RevPAR) and average daily
rate (ADR), a measure of the average rate paid for rooms sold, among all
European destinations in January, as the city’s hotel occupancy rates continued
to decline, fresh data showed.
Istanbul’s hotel occupancy rate regressed to 45.7 percent with a 6.5 percent of year-on-year decrease. Its ADR and RevPAR decreased in January by 29.7 percent and 34.2 percent, respectively, compared to the same month of 2016, according to STR Global Data released by the Hotel Association of Turkey (TÜROB) on Feb. 28.
Istanbul saw the largest plummet in hotel revenues among all European destinations.
The ADR regressed to 67.4 euros in January from 95.8 euros in the same month of 2016.
The city’s revPAR also regressed to 30.8 euros in January from 46.8 euros in the same month of the previous year.
http://www.hurriyetdailynews.com/istanbul-experiences-europes-biggest-plunge-in-hotel-revenues-.aspx?pageID=238&nID=110275&NewsCatID=349
Istanbul’s hotel occupancy rate regressed to 45.7 percent with a 6.5 percent of year-on-year decrease. Its ADR and RevPAR decreased in January by 29.7 percent and 34.2 percent, respectively, compared to the same month of 2016, according to STR Global Data released by the Hotel Association of Turkey (TÜROB) on Feb. 28.
Istanbul saw the largest plummet in hotel revenues among all European destinations.
The ADR regressed to 67.4 euros in January from 95.8 euros in the same month of 2016.
The city’s revPAR also regressed to 30.8 euros in January from 46.8 euros in the same month of the previous year.
http://www.hurriyetdailynews.com/istanbul-experiences-europes-biggest-plunge-in-hotel-revenues-.aspx?pageID=238&nID=110275&NewsCatID=349
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