Prague is the second most attractive market in CEE for hotel operators with a presence or interest in the region. Its popularity is backed up by H1 2023 being a period of healthy recovery for Prague hotels which achieved the second highest (after Budapest) RevPAR (revenue per available room) among the region’s capitals. In this year’s first six months, it reached €69, which is an increase of 57 percent versus H1 2022, and already a 5 percent increase versus the pre-Covid H1 2019. This was primarily driven by the strong ADR (average daily rate) growth, which surpassed 2019 levels by over 20 percent. Hotel operators are optimistic about the industry’s outlook and keen to expand across the CEE region. However, 28 percent of planned hotel projects in the region are facing delays or put on hold, mainly due to the increased development costs, reports Cushman & Wakefield in the Hotel Operator Beat survey.
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