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STR: Europe hotel performance for July 2017

August 26, 2017 Hotel Trends No Comments Email Email

Europe’s hotel industry reported positive results in the three key performance metrics during July 2017, according to data from STR.http://www.granmoante.com/

Euro constant currency, July 2017 vs. July 2016

Europe 

  • Occupancy: +2.6% to 78.5%
  • Average daily rate (ADR): +4.3% to EUR118.30
  • Revenue per available room (RevPAR): +7.0% to EUR92.84

Local currency, July 2017 vs. July 2016

Poland

  • Occupancy: +1.5% to 78.2%
  • ADR: -1.6% to PLN285.62
  • RevPAR: -0.1% to PLN223.39

Demand outpaced supply in terms of growth in Poland, helping occupancy growth compensate for the decline in ADR. Warsaw recorded a 10.1% increase in RevPAR for the month, with occupancy up 8.0% and ADR up 1.9%. STR analysts note that the Polish capital’s performance was exceptionally high during the first six days of the month when it hosted the International Theatre Schools Festival.

Spain

  • Occupancy: -0.6% to 80.7%
  • ADR: +7.7% to EUR129.34
  • RevPAR: +7.1% to EUR104.33

The country’s ADR level was significantly lifted by Madrid (+13.3%) and Barcelona(15.5%). STR analysts note that it is still too early to identify a potential impact on hotel performance from the 17 August terror attack in Barcelona.

Turkey

  • Occupancy: +64.9% to 69.2%
  • ADR: +8.9% to TRY330.83
  • RevPAR: +79.5% to TRY229.04

Turkey’s hotel performance showed dramatic year-over-year increases due to a comparison with the month of the coup d’état attempt in 2016. Istanbul saw a 132.5% increase in RevPAR for the month, with occupancy up 97.0% and ADR up 18.0%. STR analysts expect a similar growth pattern for August as performance declines continued through that month last year.

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