The European hospitality industry in January suffered a "cold snap," with revenue per available room down in most countries,

according to a report by consulting firm MKG Hospitality. RevPAR declined 4.3 percent year over year in the United Kingdom, 5.6 percent in Poland, 12.4 percent in Hungary and 24.3 percent in Portugal. Germany and Austria bucked the trend with strong meetings and events demand, as did Denmark, due to strong corporate travel demand in Copenhagen. MKG noted that January generally is a slow month for Europe but added that "visibility of the coming months is low, and 2013 is already shaping up as a less favorable year in terms of timing, without major events like the London Olympics and Euro 2012 Football."