International arrivals of foreign residents at the Athens airport recorded double digit growth in each month of the last quarter of 2019. In total 6.4 million foreign residents arrived in 2019, an increase of 12.0% y-o-y. Despite this surge in demand, performance of the Athenian hotels in 2019 was under pressure.
The European hotel industry remains robust with strong fundamentals, albeit with certain areas of concern and pockets of opportunity across the continent. With the IMF forecasting 1.5% GDP growth for the European Union in 2019, the European economy will be recording its seventh year of expansion in the current economic cycle.
Hotel bookings have fallen by about 25% in select Barcelona properties after Mobile World Congress was canceled on 12 February, according to preliminary data from STR's Forward STAR.
Amsterdam led Berlin, Edinburgh and London in 2019 performance with an absolute ADR of 35.31 ($38.61) per bed, which was more than 11 ($12) higher than the other three markets during the year.