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STR Global: Europe hotel results for January 2014

February 27, 2014 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 January 2014, according to data compiled by STR Global.

Year-over-year January 2014 figures for Europe (U.S. dollars, Euros and British pounds):

Europe

% change

Occupancy

52.8%

+3.1%

ADR (U.S. dollars)

$128.89

+2.3%

ADR (Euros)

€94.69

+1.7%

ADR (British pounds)

£78.03

-2.3%

RevPAR (U.S. dollars)

$68.07

+5.5%

RevPAR (Euros)

€50.01

+4.8%

RevPAR (British pounds)

£41.21

+0.7%

Source: STR Global

“European hotels began 2014 with a promising start”, said Elizabeth Winkle, managing director of STR Global. “The region reported positive growth, when measured in Euros, in all three key performance metrics. During the first month, revenue per available room increased nearly 5 percent.

“The only surprise this month was Eastern Europe reporting a 7.5-percent decline in ADR. Almost all Eastern European countries reported negative rate growth in January. Northern Europe reported positive ADR growth, as Dublin finally saw rate growth (+6.2 percent), and London (+7.5 percent) and Copenhagen (+11.7 percent) both continued to report rate growth. Overall, demand for Europe was incredibly strong in 2013, and we expect that trend to continue into 2014”.

Highlights from key market performers for January 2014 include (year-over-year comparisons, all currency in Euros):

  • Three markets achieved double-digit occupancy growth: Athens, Greece (+17.6 percent to 43.6 percent); Budapest, Hungary (+13.2 percent to 41.6 percent); and Copenhagen, Denmark (+11.0 percent to 56.6 percent).
  • Istanbul, Turkey (-5.7 percent to 54.4 percent), and Bratislava, Slovakia (-5.1 percent to 40.0 percent), posted the largest occupancy decreases.
  • Tallinn, Estonia (+13.5 percent to EUR85.03), and Copenhagen (+11.7 percent to EUR108.46) achieved the only double-digit ADR increases in January.
  • Four markets experienced RevPAR increases of more than 15 percent: Copenhagen (+23.9 percent to EUR61.41); Athens (+23.5 percent to EUR38.60); Tallinn (+18.8 percent to EUR42.26); and Vilnius, Lithuania (+17.4 percent to EUR24.23).
  • Moscow, Russia, reported the largest decrease in both ADR (-18.2 percent to EUR114.36) and RevPAR (-17.7 percent to EUR54.33). 

Performances of key countries in January 2014* (all monetary units in local currency):

Country

Occupancy

% change

ADR

% change

RevPAR

% change

Germany

53.6%

-0.2%

EUR94.38

-0.4%

EUR50.61

-0.7%

Italy

46.8%

+7.5%

EUR104.60

+4.2%

EUR48.95

+12.0%

Russia

41.2%

-3.1%

RUB4,562.40

-1.6%

RUB1,879.24

-4.7%

Spain

51.5%

+3.4%

EUR79.65

+3.1%

EUR41.02

+6.6%

United Kingdom

60.4%

+4.8%

GBP73.86

+3.8%

GBP44.58

+8.8%

*percentages are increases/decreases for January 2014 versus January 2013

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