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STR: Europe hotel performance for January 2018

March 3, 2018 Hotel Trends No Comments Email Email

Europe’s hotel industry posted growth across the three key performance metrics during January 2018, according to data from STR.

http://www.lagunaphuket.com/foodandmusicfestival/Euro constant currency, January 2018 vs. January 2017

Europe 

  • Occupancy: +3.4% to 58.6%
  • Average daily rate (ADR): +2.2% to EUR97.89
  • Revenue per available room (RevPAR): +5.7% to EUR57.39

Local currency, January 2018 vs. January 2017

Greece

  • Occupancy: -2.7% to 49.4%
  • ADR: +8.6% to EUR93.81
  • RevPAR: +5.6% to EUR46.36

Despite a decrease in demand (-2.5%) during an already historically low performance month, ADR reached its best level for a January since 2009. Athens, one of the region’s top markets for performance growth in 2017, opened the year with a 13.5% jump in RevPAR, driven mostly by a 10.4% increase in ADR.

Romania

  • Occupancy: +3.5% to 51.4%
  • ADR: +7.5% to RON314.47
  • RevPAR: +11.3% to RON161.79

Due to continued demand growth, occupancy reached its highest level for a January since 2007. Performance was also helped by a fairly stable supply situation, which is common among Central and Eastern European countries. STR analysts also note that performance gains have been common among these countries because they are generally considered safe destinations with stable political environments and growing economies. Also helping performance is more meetings, incentives, conferences and event (MICE) business as well as increased airlift from low-cost carriers and legacy carriers.

United Kingdom

  • Occupancy: +0.6% to 63.9%
  • ADR: +1.0% to GBP81.14
  • RevPAR: +1.6% to GBP51.88

Each of the three absolute values were the highest for any January in STR’s U.K. database. The year-over-year rise in occupancy came even with a 1.1% decrease inLondon. STR analysts note that the surge in both international and domestic tourism following the Brexit vote pushed occupancy and ADR to peak levels in 2017. As that impact continues to fade, so does the potential for year-over-year growth in comparison to previously high performance values.

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