The European hotel industry posted postive results in year-over-year metrics when reported in U.S. dollars, Euros and British pounds for January 2014, according to data compiled by STR Global.
“European hotels began 2014 with a promising start”, said Elizabeth Winkle, managing director of STR Global. “The region reported positive growth, when measured in Euros, in all three key performance metrics. During the first month, revenue per available room increased nearly 5 percent.
Year-over-year January 2014 figures for Europe (U.S. dollars, Euros and British pounds):
Source: STR Global
“The only surprise this month was Eastern Europe reporting a 7.5-percent decline in ADR. Almost all Eastern European countries reported negative rate growth in January. Northern Europe reported positive ADR growth, as Dublin finally saw rate growth (+6.2 percent), and London (+7.5 percent) and Copenhagen (+11.7 percent) both continued to report rate growth. Overall, demand for Europe was incredibly strong in 2013, and we expect that trend to continue into 2014”.
Highlights from key market performers for January 2014 include (year-over-year comparisons, all currency in Euros):
* Three markets achieved double-digit occupancy growth: Athens, Greece (+17.6 percent to 43.6 percent); Budapest, Hungary (+13.2 percent to 41.6 percent); and Copenhagen, Denmark (+11.0 percent to 56.6 percent).
* Istanbul, Turkey (-5.7 percent to 54.4 percent), and Bratislava, Slovakia (-5.1 percent to 40.0 percent), posted the largest occupancy decreases.
* Tallinn, Estonia (+13.5 percent to EUR85.03), and Copenhagen (+11.7 percent to EUR108.46) achieved the only double-digit ADR increases in January.
* Four markets experienced RevPAR increases of more than 15 percent: Copenhagen (+23.9 percent to EUR61.41); Athens (+23.5 percent to EUR38.60); Tallinn (+18.8 percent to EUR42.26); and Vilnius, Lithuania (+17.4 percent to EUR24.23).
* Moscow, Russia, reported the largest decrease in both ADR (-18.2 percent to EUR114.36) and RevPAR (-17.7 percent to EUR54.33).
Performances of key countries in January 2014* (all monetary units in local currency):
*percentages are increases/decreases for January 2014 versus January 2013
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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