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STR Global: Europe Hotel Results For May 2015

June 27, 2015 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 May 2015, according to data compiled by STR Global.

According to STR Global analysts, a weakening Euro led to varied performance amongst Europe’s four subregions. Aided by the weakening Euro, Northern Europe and Southern Europe each reported double-digit growth in ADR and RevPAR.

Northern Europe saw a 0.4-percent increase in occupancy to 78.0 percent, a 14.1-percent rise in ADR to EUR119.06 and a 14.6-percent increase in RevPAR to EUR92.87.

Southern Europe reported a 3.2-percent rise in occupancy to 73.6 percent, a 10.0-percent increase in ADR to EUR116.84 and a 13.5-percent rise in RevPAR to EUR86.02.

Amongst countries in Europe, Slovakia experienced the only double-digit increase in occupancy, up 11.8 percent to 68.0 percent.

Israel saw the largest decrease in occupancy, down 6.1 percent to 73.5 percent. Israel also was one of four countries in Europe to post an ADR increase of more than 15.0 percent, rising 23.0 percent to EUR188.69.

The three other countries to report an ADR increase of more than 15.0 percent were: Czech Republic (+18.0 percent to EUR95.85); United Kingdom (+16.7 percent to EUR121.22); and Italy (+16.6 percent to EUR154.46).

Seven countries recorded RevPAR increases of greater than 15.0 percent: Czech Republic (+27.8 percent to EUR79.55); Italy (+20.9 percent to EUR116.98); Ireland (+18.3 percent to EUR96.37); United Kingdom (+16.8 percent to EUR96.15); Bulgaria (+16.4 percent to EUR31.42); Slovakia (+16.3 percent to EUR40.80); and Israel (+15.5 percent to EUR138.69).

Performance in the Czech Republic was lifted by the Ice Hockey World Championship held in Prague and Ostrava.

Russia reported the largest decreases in ADR (-26.8 percent to EUR86.45) and RevPAR (-22.0 percent to EUR47.22). The country continues to feel the effects of the devaluation of the Russian Ruble as well as low oil prices and government sanctions.

Highlights from key market performers for May 2015 include (year-over-year comparisons, all currency in Euros):

  • Two markets recorded double-digit occupancy increases: Bratislava, Slovakia (+10.9 percent to 70.1 percent), and Madrid, Spain (+10.4 percent to 81.6 percent).
  • Tel Aviv, Israel, reported the largest occupancy decrease, falling 8.2 percent to 79.0 percent.
  • Milan, Italy, posted the largest increases in ADR (+35.8 percent to EUR167.74) and RevPAR (+35.8 percent to EUR119.38) as May was the first month of Expo Milano 2015.
  • Five other markets reported ADR increases of more than 15.0 percent: Manchester, England (+21.3 percent to EUR104.16); Tel Aviv (+19.1 percent to EUR231.92); Prague, Czech Republic (+18.5 percent to EUR100.89); Zurich, Switzerland (+15.7 percent to EUR225.51); and Dublin, Ireland (+15.2 percent to EUR115.65).
  • In addition to Milan, three other markets reported RevPAR increases of more than 20.0 percent: Prague (+25.7 percent to EUR86.54); Madrid (+25.6 percent to EUR82.04); and Manchester (+23.3 percent to EUR82.72).
  • Saint Petersburg, Russia, reported the largest decreases in ADR (-44.7 percent to EUR86.04) and RevPAR (-40.4 percent to EUR60.82).
  • Moscow, Russia, also reported ADR and RevPAR declines of more than 15.0 percent. ADR in the market was down 19.9 percent to EUR95.60, and RevPAR fell 17.8 percent to EUR57.56.

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