LONDON The European hotel industry turned in a robust performance in 2000. All markets reported on in the Arthur Andersen Hotel Industry Benchmark Survey recorded positive rooms yield growth, when measured in euros. Nearly 70% of the cities surveyed achieved double digit growth.
All hotels in Europe experienced a 14% improvement in rooms yield to reach euro 80. With most currencies linked to the euro, this translates into positive rooms yield growth for most cities in local currency as well. Most cities, however, recorded a yield decline when measured in U.S. dollars because of the strength of the dollar relative to other U.S. currencies. (2/26/01)