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Europe sees mixed picture on prices this summer

  • Automatic
  • 25 June 2024
  • 1 minute read
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This article was written by Hospitality Today. Click here to read the original article

European hotel prices are currently falling compared to the second quarter of this year, but they remain 8 percent higher than in the third quarter of 2023

Jun 25, 2024

Advito’s Travel Price Index for Q3 2024, derived from predictive analytics based on future purchase data, shows a mixed performance for airfares across global regions.

Key Takeaways

  • Transatlantic airfares: Advito found that the increase in transatlantic airfares between Europe and North America is “moderating” due to the full recovery of airline networks on these routes.
  • Business Fares to Asia: Business airfares from Europe to Asia fell 8 percent, driven by reduced demand for flights between Germany and China.
  • European hotel rates: Hotel prices in Europe are currently declining compared to the second quarter of this year, but remain 8 percent higher than the third quarter of 2023, with occupancy levels above last year’s levels.
  • Global hotel rate trends: Globally, hotel prices are expected to be 6 percent higher in Q3 compared to the same quarter last year.

Full story at Advito

Please click here to access the full original article.

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