Hotel Industry Performance Europe

Hotel Occupancy in the European Region Up 2.23% to 64.9% for March 2014

Athens, Greece, reported the largest occupancy increase, rising 27.0 percent to 58.8 percent.

STR Global 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. 

Tabel 1 - March 2014 Performance for Hotel Industry in European Region

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.
Table 2 - March 2014 Performance for Hotel Industry in European Region

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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