Europe’s hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR.
Euro constant currency, October 2018 vs. October 2017
Europe
- Occupancy: +2.4% to 77.4%
- Average daily rate (ADR): +6.0% to EUR116.15
- Revenue per available room (RevPAR): +8.6% to EUR89.89
Local currency, October 2018 vs. October 2017
Madrid
- Occupancy: +5.6% to 85.7%
- ADR: +17.9% to EUR138.88
- RevPAR: +24.5% to EUR119.07
The absolute RevPAR level was the highest for any month in STR’s Madrid database. STR analysts attribute a 7.4% jump in demand (room nights sold) to the CPhI Worldwide pharmaceutical conference (9-11 October) as well as the overall health of the market.
Amsterdam
- Occupancy: -1.4% to 84.9%
- ADR: +3.2% to EUR158.87
- RevPAR: +1.8% to EUR134.96
STR analysts attribute the strong performance to multiple events held in October: Helitech International (16-18 October), the Offshore Energy Exhibition & Conference (22-24 October) and the Amsterdam Dance Event (17-21 October).