Dublin Tops PwC's European Hotel Growth Ranking
Published on Mar 10 2014 3:04 PM in Hotel
The latest PricewatershouseCoopers (PwC) European city hotel survey has ranked Dublin as the best performing city in 2013, in terms of revenue per available room, with an impressive 11.2% growth.
'Revenue available per room' is a leading performance indicator used in the hospitality industry, and Ireland were followed by Zurich and Edinburgh in PwC's European league table.
However, PwC predict that the level of revenue growth for hotels in Dublin will slow to just over 5% this year, and under 4% in 2015.
London is projected to top the growth league in 2015, followed by Dublin and then Lisbon, Prague and Moscow.
The PwC report, entitled 'Room to Grow', showed that Dublin occupancy had surpassed pre-recession levels, climbing from 67% in 2008 to 79% in 2013, making it the fourth highest ranked city.
Jennifer Gillen of PwC Ireland said it was interesting to note that occupancy had now passed pre-recession levels.
Tourism Minister Michael Ring (pictured) warned that although this is great news for Dublin, hotels have to be sure and keep value to the fore of their future efforts.
“Dublin has held on to its reputation as a leading destination. However, as we emerge from a very tough period for tourism, value for money is still critical. Hotels need to ensure that customers get a good bang for their buck, whether that’s at premium or at economy level,” he said.