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STR Global: Europe hotel results for August 2013

September 25, 2013 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 August 2013, according to data compiled by STR Global.

Year-over-year August 2013 figures for Europe (U.S. dollars, Euros and British pounds):

Europe

% change

Occupancy

74.2%

+4.4%

ADR (U.S. dollars)

$137.22

+2.5%

ADR (Euros)

€103.72

-2.9%

ADR (British pounds)

£88.53

+4.6%

RevPAR (U.S. dollars)

$101.84

+6.9%

RevPAR (Euros)

€76.98

+1.3%

RevPAR (British pounds)

£65.71

+9.2%

Source: STR Global

“Demand in Europe is still high and occupancy is up, but rooms are being sold at a lower ADR”, Elizabeth Winkle, managing director of STR Global. “Of the four sub regions in Europe, three are posting negative results in year-to-date ADR, when measured in euro terms. Southern Europe is the only one is posting positive ADR growth YTD. August is the big holiday month where as September is a more popular month for business travel. Occupancy in London during August was up 5 percent, but ADR was down, which was a direct impact from the Olympics last year”.

Highlights from key market performers for August 2013 include (year-over-year comparisons, all currency in Euros):

  • Athens, Greece, rose 21.8 percent in occupancy to 62.5 percent, reporting the largest increase in that metric, followed by Manchester, United Kingdom (+15.6 percent to 76.5 percent), and Vilnius, Lithuania (+12.0 percent to 81.7 percent).
  • Helsinki, Finland, fell 5.5 percent in occupancy to 75.5 percent, reporting the largest decrease in that metric. Madrid, Spain, followed with a 4.9-percent decrease to 45.2 percent.
  • Four markets experienced double-digit ADR increases: Copenhagen, Denmark (+15.8 percent to EUR122.57); Vilnius (+14.1 percent to EUR54.08); Tallinn, Estonia (+14.0 percent to EUR75.75); and Amsterdam, Netherlands (+11.1 percent to EUR116.56).
  • Five markets achieved RevPAR increases of more than 15 percent: Athens (+29.1 percent to EUR60.12); Vilnius (+27.8 percent to EUR44.18); Copenhagen (+23.0 percent to EUR107.80); Amsterdam (+19.4 percent to EUR104.33); and Manchester (+15.5 percent to EUR55.46).
  • London, U.K., experienced the largest decreases in both ADR (-23.1 percent to EUR154.00) and RevPAR (-18.9 percent to EUR132.81) for the month. 

Performances of key countries in August 2013* (all monetary units in local currency):

Country

Occupancy

% change

ADR

% change

RevPAR

% change

Germany

69.8%

+2.4%

EUR82.78

-0.8%

EUR57.77

+1.7%

Italy

61.3%

9.1%

EUR150.68

+2.0%

EUR92.37

+11.3%

Russia

70.6%

+8.6%

RUB4,447.33

+6.8%

RUB3,139.77

+16.0%

Spain

75.3%

+2.1%

EUR106.11

+5.1%

EUR79.86

+7.3%

United Kingdom

81.2%

+6.1%

GBP79.68

-7.4%

GBP64.73

-1.7%

*percentages are increases/decreases for August 2013 versus August 2012

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