Istanbul hotels outperformed Europe during downturn

TURKEY Instanbul hotels proved more resilient to the global financial crisis than its counterparts elsewhere in Europe, a new report from Deloitte finds.

Europe hotels overall posted a 16.7% RevPAR drop last year, while the average RevPAR loss at hotels in Turkey’s largest city was a relatively modest 3.5%.

London and Edinburgh each posted RevPAR decreases of 3.9% last year, while Athens, Dusseldorf, Madrid and Moscow fared the worst, with RevPAR losses as high as 25%.

Turkey hotels earned approximately 197 lira (US$131) per room per night last year on 64% occupancy.