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Europe hotel results for September 2014

October 24, 2014 Statistics & Trends No Comments Email Email

The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, Euros and British pounds for September 2014, according to data compiled by STR Global.
“In September, Europe reported some pickup in rate, primarily in Northern Europe, driven by strong performance in the U.K and Ireland,” said Elizabeth Winkle, managing director of STR Global. “Across Europe, several countries achieved occupancy levels of 80 percent or more. September tends to be a busy month for conference and congress travel. Madrid hosted ESMO Congress, and as a result, the city’s RevPAR grew by 46.7 percent for the month, when measured in Euros”.

Highlights from key market performers for September 2014 include (year-over-year comparisons, all currency in Euros):

* Athens, Greece, reported the largest occupancy increase, rising 17.8 percent to 88.6 percent, followed by Madrid, Spain (+13.1 percent to 79.1 percent), and Lisbon, Portugal (+11.3 percent to 91.5 percent).
* Moscow, Russia, fell 12.3 percent to 67.8 percent in occupancy, reporting the largest decrease in that metric.
* Four markets achieved ADR growth of more than 15.0 percent: Edinburgh, Scotland (+30.2 percent to EUR133.75); Madrid (+29.6 percent to EUR107.91); Tel Aviv, Israel (+20.2 percent to EUR197.67); and Manchester, England (+16.8 percent to EUR97.30).
* Three markets experienced RevPAR increases of more than 30.0 percent: Madrid (+46.7 percent to EUR85.31); Athens (+33.4 percent to EUR98.62); and Edinburgh (+32.1 percent to EUR123.98).
* Moscow reported the largest ADR (-15.6 percent to EUR118.27) and RevPAR (-26.0 percent to EUR80.15) decrease in September.

Year-to-date 2014, when measured in Euros, Europe’s occupancy rose 2.1 percent to 69.5 percent; its ADR was up 3.7 percent to EUR106.64; and its RevPAR increased 5.9 percent to EUR74.07.

“During the third quarter Europe saw the largest ADR growth this year when measured in Euros, commented Winkle. “In year-to-date results, supply growth is performing on par (+1.0 percent) while demand growth is ahead (+3.2 percent) when compared to last year”.

For complete media releases with tables, open the attached Word document.

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