Hotel Industry Performance Europe

Hotel Occupancy in the European Region Up 1.00% to 73.9% for July 2014

Four markets experienced RevPAR increases of more than 15.0 percent: Athens (+31.2 percent to EUR86.43); Manchester (+22.7 percent to EUR67.79); Copenhagen (+20.9 percent to EUR96.50); and Frankfurt (+17.5 percent to EUR65.87).

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 July 2014, according to data compiled by STR Global.

“Europe’s supply increased 0.9 percent, on a 12-month-moving-average basis, while demand is increasing at a healthy 3.2 percent”, said Elizabeth Winkle, managing director of STR Global. “As a result, the region is achieving occupancy levels of 68.2 percent. In July 2014, Europe demand was over 100 million rooms sold for the second month this year.

“It’s is reassuring to see Athens improving from not only an occupancy perspective (+21.9 percent) but also from a RevPAR perspective (+32.1 percent) in year-to-date results”, said Winkle. “Glasgow, host of the 2014 Commonwealth Games from 23 July through 3 August, greatly benefited from the games evidenced by strong performance increases across the board. The market’s occupancy for July was 87.5 percent, as its ADR jumped by +58.9 percent and RevPAR increased by 73.5 percent”.

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

 

Europe

% change

Occupancy

73.9%

+1.0%

ADR (U.S. dollars)

$143.56

+5.9%

ADR (Euros)

€107.15

+4.8%

ADR (British pounds)

£84.80

-4.3%

RevPAR (U.S. dollars)

$106.11

+6.9%

RevPAR (Euros)

€79.20

+5.9%

RevPAR (British pounds)

£62.68

-3.3%

Source: STR Global

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

  • Lisbon, Portugal, rose 15.4 percent in occupancy to 81.5 percent, reporting the largest increase in that metric. Athens, Greece, followed with a 14.0-percent increase to 77.6 percent.
  • Tel Aviv, Israel, fell 33.0 percent to 52.1 percent in occupancy, posting the largest decrease in that metric. The market also reported the largest RevPAR decrease, falling 35.0 percent to EUR94.69.
  • Four markets achieved ADR growth of more than 15.0 percent: Manchester, England (+18.5 percent to EUR83.50); Copenhagen, Denmark (+17.7 percent to EUR116.54); Tallinn, Estonia (+16.7 percent to EUR85.09); and Athens (+15.1 percent to EUR111.43).
  • Moscow, Russia (-11.9 percent to EUR102.44), and Vilnius, Lithuania (-11.7 percent to EUR52.70), reported the largest ADR decreases during July.
  • Four markets experienced RevPAR increases of more than 15.0 percent: Athens (+31.2 percent to EUR86.43); Manchester (+22.7 percent to EUR67.79); Copenhagen (+20.9 percent to EUR96.50); and Frankfurt (+17.5 percent to EUR65.87). 

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

Country

Occupancy

% change

ADR

% change

RevPAR

% change

Germany

70.8%

+4.0%

EUR85.35

+1.7%

EUR60.44

+5.7%

Italy

70.5%

+3.1%

EUR140.07

-2.4%

EUR98.80

+0.7%

Russia

56.4%

-15.1%

RUB4,291.44

-7.0%

RUB2,421.83

-21.0%

Spain

75.5%

+3.0%

EUR102.30

+5.5%

EUR77.29

+8.7%

United Kingdom

83.9%

+2.2%

GBP88.06

+5.8%

GBP73.88

+8.1%

*percentages are increases/decreases for July 2014 versus July 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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