The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for January 2010, according to data compiled by STR Global.
Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison.
Year-over-year January 2010 figures for Europe (U.S. dollars, euros and British pounds):
Source: STR Global
“Europe, like the Asia/Pacific region, is one of only two world regions that reported growth in occupancy for all their respective sub regions”, said Elizabeth Randall, managing director of STR Global. “Whilst European occupancy stands at 48.2 percent—some 12.8 percentage points behind Asia Pacific—it reflects a continuing stabilisation of market conditions, may it be on low levels”.
Highlights from key market performers for January include (year-over-year comparisons, all currency in euros):
• Tel Aviv, Israel, experienced the largest occupancy increase, rising 47.9 percent to 62.2 percent. Four other markets reported occupancy increases of more than 10 percent: Frankfurt, Germany (+14.6 percent to 58.4 percent); Moscow, Russia (+11.6 percent to 43.3 percent); Athens, Greece (+10.6 percent to 42.3 percent); and Milan, Italy (+10.4 percent to 51.9 percent).
• Gothenburg, Sweden, posted the largest occupancy decrease, falling 11.1 percent to 42.4 percent, followed by Hamburg, Germany, with a 10.4-percent decrease to 48.7 percent.
• Berlin, Germany, reported the largest ADR increase for the month, up 8.1 percent to EUR82.11, followed by London, England, with a 7.2-percent increase to EUR125.60.
• Rome, Italy (-13.6 percent to EUR113.50), and Dublin, Ireland (-13.5 percent to EUR75.40), reported the largest ADR decreases among the key markets.
• Tel Aviv experienced the largest RevPAR increase, jumping 51.8 percent to EUR88.92, followed by Frankfurt (+17.6 percent to EUR72.36) and Berlin (+14.0 percent to EUR41.74).
• Two markets posted RevPAR decreases of more than 15 percent: Barcelona, Spain (-16.2 percent to EUR38.74), and Munich, Germany (-15.1 percent to EUR50.32).
Performances of key countries in January 2010 (all monetary units in local currency):
*percentages are increases/decreases for January 2010 vs. January 2009
Global Hotel Review PDF for January 2010.
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For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
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