{"id":122234,"date":"2017-03-20T00:00:00","date_gmt":"2017-03-19T22:00:00","guid":{"rendered":"https:\/\/rhn.ro\/bucharest-4-7-increase-in-hotel-occupancy-rate-in-2016\/"},"modified":"2026-03-28T14:01:43","modified_gmt":"2026-03-28T12:01:43","slug":"bucharest-4-7-increase-in-hotel-occupancy-rate-in-2016","status":"publish","type":"post","link":"https:\/\/rhn.ro\/en\/bucharest-4-7-increase-in-hotel-occupancy-rate-in-2016\/","title":{"rendered":"Bucharest: 4.7% Increase in Hotel Occupancy Rate in 2016"},"content":{"rendered":"
In 2016, hotels in Bucharest recorded a 4.7% increase in occupancy rate compared to the previous year, a growth rate nearly twice as high as in Prague or Warsaw, while the average rate increased by 5.8%, in the context where the regional hotel industry attracted significant investments last year and maintains high growth potential, according to a report by the consulting firm Cushman & Wakefield.<\/div>\n
<\/div>\n
A larger number of tourists chose destinations in Central and Eastern Europe in 2016, so the occupancy rate returned to or even exceeded pre-crisis levels, reaching an average of 72%, compared to 69% during the crisis period.<\/div>\n
<\/div>\n
Bucharest had an occupancy growth rate nearly double that of other capitals in the region, stated Marius Grigorica, senior broker at Cushman & Wakefield.<\/div>\n
<\/div>\n
Bratislava recorded the highest occupancy growth rate in 2016, at 10.2%, followed by Sofia with 6.3%, Bucharest – 4.7%, Warsaw – 2.8%, Budapest – 2.7%, Vienna – 2.5%, and Prague – 2.4%.<\/div>\n
<\/div>\n
As the cost of travel in the region advanced and hotel room rates increased, profits were also on the rise. The average daily rate per room increased from 73.6 EUR\/day in 2015 to 76.6 EUR\/day in 2016.<\/div>\n
<\/div>\n
Bratislava recorded the highest rate increase – 9.5%, followed by Budapest – 6.1%, Bucharest and Sofia with 5.8% each, Prague – 3.4%, Warsaw – 3.1%, and Vienna – minus 2.1%.<\/div>\n
<\/div>\n
The volume of investments in the hotel industry at the Central and Eastern European level increased by 66% in 2016 compared to the previous year, up to 1.2 billion EUR, but Austria held the largest share, with nearly 800 million EUR transacted, representing 67% of the total investment volume.<\/div>\n
<\/div>\n
In other markets in Central and Eastern Europe, the volume was lower than in 2015, with Poland recording the largest decline, with more than half of the previous investment volume.<\/div>\n
<\/div>\n
The Czech Republic attracted 18% of total investments in Central and Eastern Europe. Most investments took place in Prague, where seven transactions were completed, including Old Town Hilton, Park Hotel, and Chopin Hotel, the report states.<\/div>\n
<\/div>\n
For this year, consultants expect an addition of 4,000 rooms in Central and Eastern European capitals. The markets with the highest development prospects are considered to be Warsaw and Budapest.<\/div>\n
<\/div>\n

Source: Economica<\/a><\/p>\n

Frequently Asked Questions<\/h3>\n

What was the hotel occupancy growth in Bucharest in 2016?<\/strong><\/p>\n

Bucharest recorded a 4.7% increase in hotel occupancy, a growth rate nearly double that of other regional capitals like Prague or Warsaw.<\/p>\n

Which CEE city saw the highest occupancy growth in 2016?<\/strong><\/p>\n

Bratislava recorded the highest occupancy growth rate in the region at 10.2%, followed by Sofia at 6.3% and Bucharest at 4.7%.<\/p>\n

How did hotel investment volumes change in Central and Eastern Europe in 2016?<\/strong><\/p>\n

Investment volumes in the hotel industry rose by 66% to 1.2 billion EUR, with Austria accounting for the largest share at nearly 800 million EUR.<\/p>\n","protected":false},"excerpt":{"rendered":"

In 2016, hotels in Bucharest recorded a 4.7% increase in occupancy rate compared to the previous year, a growth rate nearly twice as high as in Prague or Warsaw, while the average rate increased by 5.8%, in the context where the regional hotel industry attracted significant investments last year and maintains high growth potential, according…<\/p>\n","protected":false},"author":0,"featured_media":66598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2852],"tags":[],"thb-sponsors":[],"class_list":["post-122234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotels-restaurants"],"article_style_override":"","post-style":"","post_via":"","post-top-image":"https:\/\/rhn.ro\/wp-content\/uploads\/2019\/11\/hotelieri-2.jpg","_links":{"self":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/122234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/comments?post=122234"}],"version-history":[{"count":0,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/posts\/122234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media\/66598"}],"wp:attachment":[{"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/media?parent=122234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/categories?post=122234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/tags?post=122234"},{"taxonomy":"thb-sponsors","embeddable":true,"href":"https:\/\/rhn.ro\/en\/wp-json\/wp\/v2\/thb-sponsors?post=122234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}