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21/07/2005 | 13:59
After three years of declining sales, the European hotel industry has turned a profit.
According to financial service firm Deloitte's hotel benchmark survey, hotels across continental Europe reported an overall seven per cent growth in profit per room in 2004.
The evidence suggests that tourists are coming back to Europe.
The largest profits were in Germany, thanks to a biennial trade fair in Dusseldorf. The city witnessed a startling 76 per cent growth in profit per room.
Regionally eastern European capitals fared the best with cities like Prague and Budapest seeing profit increases of 20 per cent.
Julia Fenton, executive director of the Deloitte study said: "The figures are very encouraging and highlight the diversity that exists within the European hotel market."
Tourism in Europe declined dramatically in 2002 and 2003, probably due to tense US-EU relations. Could these results indicate a return to normalcy?
Higher hotel profits and a weaker Euro could make the continent more affordable.
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