Hotel industry across Europe has reasons to cheer. The year 2014 is going to prove amazingly profitable for the industry. Experts suggest that this year will witness a surge in demand from both corporate as well as leisure travelers. Likewise, some experts had predicted a similar fate for the industry in November 2013.
This is good news for hoteliers throughout the continent. At present about 360 hotel projects are underway throughout Europe. These hotels are set to offer about 60,000 additional rooms. While many are set to launch operations this year, many will inaugurate the key to their fortunes in 2015 and 2016.
Besides, the work in progress, 450 projects are at its inception stages. If all goes the way it is planned, travelers will soon have access to about 70,000 more rooms most of which will be based in UK, Russia, Turkey, Germany and France.
As per the reports, about 45 percent of the upcoming hotels will be located at posh localities and not in the areas that are suggestive of discounted accommodations. With each passing year, the demand for luxury hotels is on the rise. In fact, this is a strong reason which plays a pivotal role in selecting the location of a project. While the demand in the market hints at a growing need for luxury accommodation, business across the continent are only capitalizing on the excellent opportunity.
European cities like London, Paris, Frankfurt, Moscow, Munich, Barcelona, Milan, Rome, and Istanbul among others are in great demand by business travelers, thus making these cities a hotspot for the industrialists. London alone has a proposal for 100 projects that are still in the inception stage. No matter what, the industry should look forward to happy times ahead!