Five-star hospitality industry won’t recover any sooner than 2011

Even if the average occupancy rates rose modestly in the first three-four months this year, the revenue per available room remained weak throughout the Jan-Mar period.“Over the past three months, the RevPAR dropped from €23 in January 2009 to €21 in January 2010, from €30 in February 2009 to €27 in February 2010, and from €35 in March 2009 to €30 in March 2010. In these circumstances, I don’t think the market will recover any sooner than early 2011”, Sorin Ionescu ,managing ...

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