PKF hotelexperts

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HTLroundtable heart of europe - snapshot 2015

31 May 2015

25hours Hotel Museumsquartier Vienna, 26 May 2015

Only a few days after the 60th Eurovision Song Contest was broadcasted live from Vienna to an expected 180 million viewers worldwide, 35 hotel and tourism professionals met at the sixth annual HTLroundtable heart of europe, which was hosted by Michael Widmann and Andreas Martin from PKF hotelexperts Vienna. For the first time, the event took place at the 25hours hotel at Museumsquartier in Vienna. The hotel is the result of a conversion of a former student dormitory into a hotel with 217 rooms including 34 suites. Following a partial opening in 2011 (including the suites and roof top lounge), it was fully completed and in operation since May 2013.

The 25h marketing slogan "We are all mad here!" especially describes the lively atmosphere at the so called "Dachboden" i.e. the hotel's popular roof top bar/lounge, which was recently extended to strengthen its position as a  very prominent roof top party location with a view overlooking the surrounding museum district.

Two years after the opening, the hotel trades well in the mid- to upscale segment of the Viennese hotel market with an average occupancy above 80% and a net average room rate at around 105 €. The hotel is well positioned below the five-star hotel market (according to the Austrian classification system) which according to Vienna Tourism comprises of 21 hotels with 4.060 rooms and seems to have reached a certain level of saturation.

Despite the lack of direct international long-haul flight connections, the Viennese hotel market is expected to further grow in supply and demand, especially with the finalisation of the new main train station by the end of this year and the opening - among other hotels - of the 18 floor and 533 room Motel One in Vienna (representing the groups fourth and largest hotel in the city). In 2014, occupancy in Viennese hotels was recorded at 72 % and net average rate at € 96 according to market data from STR global, which was presented during the HTLroundtable. Overall, the Austrian hotel market (according to hotels reporting to STR) performed very similar to the Viennese hotels, with a revenue per available room (revpar) of close to € 69.

The Austrian neighbour Slovakia, with its capital city Bratislava, represents by far the weakest hotel market in the Central European region with an occupancy level of around 55 % and a net average room rate of roughly € 60 according to STR.

The two other markets which were discussed during the HTLroundtable were the Czech Republic and Hungary. Both of the capital cities of these countries, Prague and Budapest, show positive signs of recovery and especially demand for Prague is expected to further grow. As a result, performance data for the Czech Republic for 2014 was slightly better (OCC 68 %, ADR € 70) than in Hungary (OCC 68 %, ADR € 64).

After four hours of lively discussion, all participants met for a drink at the "Dachboden" prior to having the traditional HTLdinner at 1500 Foodmakers, the 25hours hotel's bustling restaurant.

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