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STR Global: Europe hotel results for July 2014

August 26, 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 July 2014, according to data compiled by STR Global.

“Europe’s supply increased 0.9 percent, on a 12-month-moving-average basis, while demand is increasing at a healthy 3.2 percent”, said Elizabeth Winkle, managing director of STR Global. “As a result, the region is achieving occupancy levels of 68.2 percent. In July 2014, Europe demand was over 100 million rooms sold for the second month this year.

“It’s is reassuring to see Athens improving from not only an occupancy perspective (+21.9 percent) but also from a RevPAR perspective (+32.1 percent) in year-to-date results”, said Winkle. “Glasgow, host of the 2014 Commonwealth Games from 23 July through 3 August, greatly benefited from the games evidenced by strong performance increases across the board. The market’s occupancy for July was 87.5 percent, as its ADR jumped by +58.9 percent and RevPAR increased by 73.5 percent”.

Highlights from key market performers for July 2014 include (year-over-year comparisons, all currency in Euros):
* Lisbon, Portugal, rose 15.4 percent in occupancy to 81.5 percent, reporting the largest increase in that metric. Athens, Greece, followed with a 14.0-percent increase to 77.6 percent.
* Tel Aviv, Israel, fell 33.0 percent to 52.1 percent in occupancy, posting the largest decrease in that metric. The market also reported the largest RevPAR decrease, falling 35.0 percent to EUR94.69.
* Four markets achieved ADR growth of more than 15.0 percent: Manchester, England (+18.5 percent to EUR83.50); Copenhagen, Denmark (+17.7 percent to EUR116.54); Tallinn, Estonia (+16.7 percent to EUR85.09); and Athens (+15.1 percent to EUR111.43).
* Moscow, Russia (-11.9 percent to EUR102.44), and Vilnius, Lithuania (-11.7 percent to EUR52.70), reported the largest ADR decreases during July.
* Four markets experienced RevPAR increases of more than 15.0 percent: Athens (+31.2 percent to EUR86.43); Manchester (+22.7 percent to EUR67.79); Copenhagen (+20.9 percent to EUR96.50); and Frankfurt (+17.5 percent to EUR65.87).

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