The majority of Europe's hotels have experienced lower occupancy and profits so far this year, according to TRI Hospitality's March HotStats report. Of the ten cities surveyed, eight experienced a decrease in profits while six cities had lower occupancy. The sharpest occupancy drop occurred in Warsaw, which saw a first quarter decrease of 8.3% to 61.3% occupancy. The difficulty of increasing the average room rate led to a 17.9% decline in gross operating profit. Warsaw nevertheless remained the fourth most profitable city surveyed, just behind Amsterdam.
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