European hotel industry shows increase in occupancy rates
The European hotel industry recorded positive results in the three key performance metrics when reported in Euro constant currency, according to November 2015 data compiled by STR Global. Compared to November 2014, Europe reported a 0.8% increase in occupancy to 68.1%, a 4.1% increase in average daily rate to EUR 107.74 and a 4.9% increase in revenue per available room to EUR 73.40.
ADR drove performance for the month, especially in Southern Europe, where RevPAR rose 13.2% to EUR 64.13. Southern Europe’s top-performing countries in RevPAR were Malta (+52.1%), Spain (+21.9%) and Italy (+19.2%).
At the market level, Paris and Brussels saw performance decreases, stemming from the terrorist attacks of November 13th.
Performance of featured countries for November 2015 (local currency, year-over-year comparisons):
France reported decreases in occupancy (-3.1% to 58.2%) and RevPAR (-1.4% to EUR 73.83). ADR was up 1.7% to EUR 126.84.
Ireland posted a 5.5% increase in occupancy to 74.0% as well as double-digit growth in ADR (+18.9% to EUR 112.39) and RevPAR (+25.5% to EUR 83.14).
The Netherlands recorded increases in each of the three key performance metrics: occupancy (+4.4% to 69.7%), ADR (+5.9% to EUR 108.92) and RevPAR (+10.6% to EUR 75.95).
Russia experienced increases across the key performance measurements: occupancy (+3.0% to 52.9%), ADR (+8.7% to RUB4,681.58) and RevPAR (+12.0% to RUB2,476.38).
Performance of featured markets for November 2015 (local currency, year-over-year comparisons):
Athens, Greece, reported decreases in occupancy (-5.4% to 55.9%) and RevPAR (-3.4% to EUR 54.92). ADR was up 2.0% to EUR 98.18.
London, England, saw declines in occupancy (-3.5% to 81.7%) and RevPAR (-1.2% to GBP121.28). However, ADR in the market rose 2.4% to GBP 148.49.
Milan, Italy, posted a 5.1% increase in occupancy to 69.3% as well as double-digit spikes in ADR (+32.1% to EUR 151.55) and RevPAR (+38.9% to EUR 105.08).
Paris, France, experienced decreases in occupancy (-12.1% to 66.5%) and RevPAR (-1.3% to EUR 165.68). ADR increased by double-figures (+12.3% to EUR 249.12).
SOURCE: STR Global Europe