- 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).
Europes 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
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
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.
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 STRs Budapest database. STR analysts attribute the strong performance to an increase in inbound tourism and a continued lack of supply growth in the market.
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