Hotel Industry Performance Europe

Hotel Occupancy in the European Region Up 3.2% to 74.0% for May 2014

Athens, Greece, rose 36.6 percent in occupancy to 83.0 percent, reporting the largest increase in that metric. Bucharest, Romania, followed with a 24.5-percent increase to 72.3 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 May 2014, according to data compiled by STR Global.

“Greece reported one of the highest occupancy growth rates, increasing 31.0 percent to 70.3 percent in May”, said Elizabeth Winkle, managing director of STR Global. “Year to date, Greece’s occupancy increased 20.2 percent, one of the highest increases for the region. It is nice to see healthy increases from Greece as there is a return of demand in the country.

“Portugal also reported strong increases in May, as Lisbon hosted the UEFA Champions League Final on 24 May. Lisbon’s ADR grew by 14.8 percent to EUR87.78. In May 2013, London hosted the Champions League Final, which resulted in decreases in both occupancy (-1.8 percent to 84.5 percent) and RevPAR (-2.1 percent to GBP119.27) for May 2014. London’s supply increased 1.8 percent, while demand remained flat compared with last year”.

Year-over-year May 2014 figures for Europe (U.S. dollars, Euros and British pounds):

 

Europe

% change

Occupancy

74.0%

+3.2%

ADR (U.S. dollars)

$148.89

+9.4%

ADR (Euros)

€109.36

+4.3%

ADR (British pounds)

£88.93

-0.9%

RevPAR (U.S. dollars)

$110.17

+12.9%

RevPAR (Euros)

€80.92

+7.7%

RevPAR (British pounds)

£65.81

+2.2%

Source: STR Global

Highlights from key market performers for May 2014 include (year-over-year comparisons, all currency in Euros):

  • Athens, Greece, rose 36.6 percent in occupancy to 83.0 percent, reporting the largest increase in that metric. Bucharest, Romania, followed with a 24.5-percent increase to 72.3 percent.
  • Istanbul, Turkey, fell 12.3 percent in occupancy to 71.3 percent, posting the largest decrease in that metric.
  • Four markets grew 15.0 percent or more in ADR: Tallinn, Estonia (+20.5 percent to EUR87.96); Lisbon, Portugal (+16.0 percent to EUR107.46); Brussels, Belgium (+15.8 percent to EUR125.38); and Manchester, England (+15.0 percent to EUR84.94).
  • Six markets experienced RevPAR increases of 20.0 percent or more: Athens (+46.2 percent to EUR93.52); Tallinn (+28.2 percent to EUR66.18); Lisbon (+25.4 percent to EUR93.40); Bucharest (+22.6 percent to EUR53.06); Brussels (+21.7 percent to EUR95.36); and Manchester (+20.0 percent to EUR66.31).
  • Moscow, Russia, reported the largest decrease in ADR (-13.9 percent to EUR122.14), while Istanbul experienced the largest RevPAR decline (-24.2 percent to EUR109.58).

Performances of key countries in May 2014* (all monetary units in local currency):

Country

Occupancy

% change

ADR

% change

RevPAR

% change

Germany

74.7%

+9.8%

EUR100.75

+9.9%

EUR75.25

+20.7%

Italy

74.0%

+5.0%

EUR133.69

+0.3%

EUR98.89

+5.3%

Russia

53.6%

-14.5%

RUB5,882.23

+18.3%

RUB3,152.34

+1.1%

Spain

71.3%

+6.0%

EUR87.27

+4.8%

EUR62.23

+11.2%

United Kingdom

79.5%

+1.8%

GBP84.43

+3.0%

GBP67.13

+4.8%

*percentages are increases/decreases for May 2014 versus May 2013

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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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