Compared to July 2014, Europe reported a 5.1% increase in occupancy to 77.3%, an 8.0% increase in average daily rate to EUR117.70 and a 13.5% increase in revenue per available room to EUR90.93.
Performance of featured countries for July 2015 (local currency, year-over-year comparisons):
Austria reported a 4.7% increase in occupancy to 77.0% as well as double-digit growth in ADR (+13.5% to EUR93.20) and RevPAR (+18.8% to EUR71.79). Preliminary estimates from the Austrian Institute of Economic Research showed second-quarter GDP growth of 0.3% when compared to the previous quarter. Improvements in domestic demand and government consumption were cited as reasons.
The Czech Republic experienced double-digit increases in each of the three key performance metrics: occupancy (+12.8% to 82.3%), ADR (+15.3% to CZK1,883.42) and RevPAR (+30.1% to CZK1,549.45). GDP for the second quarter of 2015 increased year-over-year by 4.4%, according to a preliminary estimate from the Czech Statistical Office. Employment also was up 1.4% for the same period.
Germany saw a 3.2% increase in occupancy to 72.9%, a 5.2% rise in ADR to EUR90.24 and an 8.6% increase in RevPAR to EUR65.74. GDP growth for the second quarter of 2015 (+0.4%) fell just short of expectations, according to Destatis.
Portugal posted a 6.2% increase in occupancy to 82.3% and double-digit growth in ADR (14.5% to EUR110.31) and RevPAR (+21.6% to EUR90.80). According to Eurostat, the unemployment rate in Portugal dropped 14.3% in June 2015.
Performance of featured markets for July 2015 (local currency, year-over-year comparisons):
Berlin, Germany, reported increases in the three key performance measurements: occupancy (+9.7% to 83.0%), ADR (+5.9% to EUR82.61) and RevPAR (+16.2% to EUR68.57). For the first half of 2015, arrivals in Berlin increased 4.9% according to Amt für Statistik Berlin-Brandenburg. The number of visitors from foreign countries increased 9.0%.
Madrid, Spain, saw a 5.2% increase in occupancy to 66.6%, a 14.2% rise in ADR to EUR86.89 and a 20.2% increase in RevPAR to EUR57.90. RevPAR in the market has grown year-over-year by double digits in each month since March 2015. STR Global analysts attribute the growth to an increase in demand, improved economy across the country and a weak Euro.
Paris, France, experienced increases in the three key performance metrics: occupancy (+2.4% to 86.9%), ADR (+9.4% to EUR274.60) and RevPAR (+12.0% to EUR238.68). Demand growth (+3.4%) outweighed supply (+1.0%) for the month. In the previous six months, supply outpaced demand.
Vienna, Austria, posted a 4.2% increase in occupancy to 76.3% as well as double-digit growth in ADR (+11.0% to EUR88.49) and RevPAR (+15.7% to EUR67.54). July results in the market remain in line with year-to-date performance, which shows RevPAR growth of 8.2%.
Additional performance data
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