Europe’s hotel industry reported positive results in the three key performance metrics during 2018, according to data from STR.
Euro constant currency, 2018 vs. 2017
Europe
- Occupancy: +1.2% to 72.4%
- Average daily rate (ADR): +3.9% to EUR112.49
- Revenue per available room (RevPAR): +5.2% to EUR81.43
Local currency, 2018 vs. 2017
Dublin
- Occupancy: +0.7% to 83.8%
- ADR: +6.5% to EUR145.15
- RevPAR: +7.2% to EUR121.70
The absolute occupancy level was the highest for any year in STR’s Dublin database. The market has also seen eight consecutive years of RevPAR growth. STR analysts attribute the strong performance to a large number of events held during the year: the St. Patrick’s Festival (17-19 March), the Six Nations Rugby Championship, the EORTC-NCI-AACR Symposium (13-16 November) and a number of concerts (U2, Florence + the Machine and Snow Patrol).
Brussels
- Occupancy: +6.9% to 72.9%
- ADR: +5.2% to EUR115.50
- RevPAR: +12.4% to EUR84.17
Brussels registered another double-digit RevPAR growth year after the negative impact of the terror attacks of 2016. The market’s absolute occupancy level was the highest for any year in STR’s Brussels database, and the market has seen 26 consecutive months of year-over-year occupancy growth. According to Tourism Economics, Belgium welcomed roughly 9 million visitors in 2018, and this is expected to continue. STR analysts note that inbound tourism will continue to drive demand and push hotel performance levels.
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