Europe’s hotel industry reported positive results across the three key performance metrics during August 2019, according to data from STR.
Euro constant currency, August 2019 vs. August 2018
Europe
- Occupancy: +0.4% to 77.7%
- Average daily rate (ADR): +1.0% to EUR118.70
- Revenue per available room (RevPAR): +1.4% to EUR92.25
Local currency, August 2019 vs. August 2018
Tel Aviv, Israel
- Occupancy: +7.5% to 73.9%
- ADR: -2.6% to ILS954.83
- RevPAR: +4.7% to ILS705.47
The absolute occupancy and RevPAR levels were the highest for an August in Tel Aviv since 2015. STR analysts note that demand (+8.8%) significantly outgrew supply (+1.2%) in year-over-year comparisons.
Athens, Greece
- Occupancy: +10.7% to 81.4%
- ADR: +23.4% to EUR160.22
- RevPAR: +36.6% to EUR130.41
The absolute levels for each of the three key performance metrics were the highest for an August in Athens since 2004. STR analysts note that a rise in popularity among U.S. and Asian travelers, along with new non-stop airline routes, have helped demand in the market. Overall, the summer months in Athens have been particularly strong compared to recent years as Greece is a popular leisure destination.
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