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STR Global: Europe hotel results for August 2015

September 28, 2015 Hotel Trends No Comments Email Email

The European hotel industry recorded positive results in the three key performance metrics when reported in Euro constant currency, according to August 2015 data compiled by STR Global.Compared to August 2014, Europe reported a 2.2% increase in occupancy to 77.1%, a 6.4% increase in average daily rate to EUR119.34 and an 8.7% increase in revenue per available room to EUR92.05.

Performance of featured countries for August 2015 (local currency, year-over-year comparisons):

Belgium reported increases in the three key performance metrics: occupancy (+1.0% to 71.7%), ADR (+5.4% to EUR80.26) and RevPAR (+6.4% to EUR57.57). Year-to-date demand growth (+3.8%) in Belgium has outpaced supply (+0.5%). According to STR Global analysts, demand in the country is expanding beyond Brussels to cities such as Ghent, Bruges and Antwerp. In addition, heavy investments have been made in the country’s hotel industry based on attractive yields and healthy hotel performance.

France experienced a 1.0% increase in occupancy to 73.2%, a 3.2% rise in ADR to EUR179.65 and a 4.2% increase in RevPAR to EUR131.43. August was the third consecutive month in which demand (+1.7%) outperformed supply (+0.6%) in France. After a slow start to the year, the country’s year-to-date occupancy, ADR and RevPAR have all moved into positive growth figures.

Greece saw a 0.8% dip in occupancy to 74.7% but double-digit growth in ADR (+13.7% to EUR163.50) and RevPAR (+12.8% to EUR122.05). According to STR Global analysts, Greece experienced strong ADR performance in both July and August as a result of positive developments with the third European bailout in the country. Greece’s hotel performance did not plummet as some expected this summer as a majority of trips to the country were booked well in advance and were not subject to refund.

Occupancy in Turkey decreased 3.0% to 72.9%, but the country posted double-digit increases in ADR (+19.1% to TRY435.01) and RevPAR (+15.5% to TRY316.94). Year-to-date demand growth (+5.8%) has outpaced supply growth (+2.5%) in the country. According to STR Global analysts, a consistent increase of overnight tourist arrivals over the last several years has contributed to enhanced hotel performance in Turkey.

Performance of featured markets for August 2015 (local currency, year-over-year comparisons):

Barcelona, Spain, experienced a drop in occupancy (-1.5% to 87.7%) and nearly flat performance in RevPAR (+0.1% to EUR115.75). ADR in the market was up 1.6% to EUR131.97. Demand fell 1.3% year over year in the market, while supply (+0.2%) remained nearly flat.

Bucharest, Romania, reported double-digit growth in occupancy (+17.7% to 63.7%) and RevPAR (+21.3% to RON189.55). ADR increased 3.1% to RON297.56. The market experienced a double-digit increase in weekend occupancy, suggesting that domestic visitation was significant during the month.

Helsinki, Finland, posted an increase in occupancy (+1.8% to 80.4%) but declines in ADR (-6.0% to EUR100.17) and RevPAR (-4.4% to EUR80.56).  The market saw double-digit growth in occupancy and RevPAR during the previous month.

Rome, Italy, saw occupancy remain nearly flat (-0.2% to 70.2%), but the market reported increases in ADR (+6.3% to EUR134.44) and RevPAR (+6.1% to EUR 94.39). With demand flat in Rome, rate drove RevPAR for the month.

Additional performance data

Looking for performance data for a market not featured in this month’s release? STR Global gathers performance data from more than 18,000 hotels comprising more than 3.0 million rooms. Please contact for additional data requests.

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