Europe’s hotel industry reported positive results in the three key performance metrics during Q2 2018, according to data from STR.
Euro constant currency, Q2 2018 vs. Q2 2017
- Occupancy: +1.1% to 75.5%
- Average daily rate (ADR): +3.8% to EUR115.54
- Revenue per available room (RevPAR): +4.9% to EUR87.20
Local currency, Q2 2018 vs. Q2 2017
- Occupancy: +0.2% to 89.6%
- ADR: +9.5% to EUR155.75
- RevPAR: +9.7% to EUR139.51
The absolute values for occupancy, ADR and RevPAR were each the highest for any Q2 in STR’s Dublin database. The ADR value was the highest for any quarter. According to STR analysts, Dublin’s already high occupancy levels have left little room for year-over-year growth. However, the market’s popularity as a destination and consistent demand for rooms continue to result in record-breaking performance.
- Occupancy: +9.3% to 77.6%
- ADR: +78.9% to RUB9,731.73
- RevPAR: +95.5% to RUB7,549.57
The absolute performance levels were each the highest for any Q2 in STR’s Moscow’s database. Helped by a lack of significant supply growth and the obvious demand boost around the FIFA World Cup, the market exceeded performance expectations in June with a 206.8% spike in ADR to RUB17,029.19 and a subsequent 244.5% rise in RevPAR to RUB14,476.69. Saint Petersburg, on the other hand, saw June RevPAR fall 3.0% to RUB8,989.07 due to a 15.4% decline in occupancy.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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