The recovery in the European hotel market continued in August, with increases across all three performance metrics when measured in Euros, according to STR Global.
London saw the highest year-to-date revpar results since 2004, aided by the weak Sterling exchange rate. Elizabeth Randall, managing director of STR Global, said: "Whilst these results are still influenced by the weak comparables last year, the better economic conditions and the return of the business and MICE segments have assisted the recovery. This demand pick-up has helped hoteliers to start rebuilding their average daily rates."
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