Hotel Industry Performance Europe

Budapest Hotels Report September Performance Records

European Hotel Industry Reports Positive Mixed Metrics for September 2018
Scenic view of Budapest, Hungary - Photo by Dan Novac on Unsplash
Budapest Hotels Report September Performance Records

  • Sofia experiences double-digit performance gains
  • Budapest posts record performance levels

Europe hoteliers reported occupancy dipped 0.7% to 80.7% in September, but a 3.6% ADR increase to €123.09 ($140.28) boosted RevPAR €2.8% to 99.38 ($113.26).

Europe’s hotel industry reported mixed results in the three key performance metrics during September 2018, according to data from STR.

Euro constant currency, September 2018 vs. September 2017

Europe

• Occupancy: -0.7% to 80.7%
• Average daily rate (ADR): +3.6% to EUR123.09
• Revenue per available room (RevPAR): +2.8% to EUR99.38

Local currency, September 2018 vs. September 2017

Sofia, Bulgaria

• Occupancy: +6.2% to 75.3%
• ADR: +20.5% to BGN167.29
• RevPAR: +27.9% to BGN125.98

The absolute occupancy was the highest for any month in Sofia since October 2016. The ADR value was the highest for a September since 2008.

Budapest, Hungary

• Occupancy: +0.1% to 90.5%
• ADR: +14.8% to HUF33,065.71
• RevPAR: +15.0% to HUF29,938.14

The absolute ADR and RevPAR levels were the highest for any September in STR’s Budapest database. STR analysts attribute the strong performance to an increase in inbound tourism and a continued lack of supply growth in the market.

Download the Global Performance Review

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.



Logos, product and company names mentioned are the property of their respective owners.