The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, Euros and British pounds for March 2014, according to data compiled by STR Global.
Highlights from key market performers for March 2014 include (year-over-year comparisons, all currency in Euros):
- Athens, Greece, reported the largest occupancy increase, rising 27.0 percent to 58.8 percent.
- Istanbul, Turkey (-16.3 percent to 61.0 percent), and Prague, Czech Republic (-10.1 percent to 57.8 percent), reported the largest occupancy decreases.
- Five markets experienced double-digit ADR growth: Copenhagen, Denmark (+16.4 percent to EUR112.85); Manchester, England (+13.2 percent to EUR86.44); Vilnius, Lithuania (+13.2 percent to EUR54.51); Tallinn, Estonia (+10.9 percent to EUR71.86); and London, England (+10.0 percent to EUR158.39).
- Moscow, Russia, reported the largest ADR decrease, falling 17.4 percent to EUR124.85.
- Three markets achieved RevPAR increases of more than 25 percent: Athens (+32.2 percent to EUR50.77); Vilnius (+29.8 percent to EUR27.25); and Copenhagen (+29.6 percent to EUR71.17).
- Istanbul fell 25.1 percent in RevPAR to EUR77.63, reporting the largest decrease in that metric.
During the first quarter, Europe’s occupancy rose 2.8 percent to 59.5 percent; its ADR increased 2.2 percent to EUR98.36; and its RevPAR was up 5.1 percent to EUR58.56.
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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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