Madrid experiences record-breaking hotel performance - Amsterdam hotels benefit from busy events calendar
Europe’s hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR.
Euro constant currency, October 2018 vs. October 2017
• Occupancy: +2.4% to 77.4%
• Average daily rate (ADR): +6.0% to EUR116.15
• Revenue per available room (RevPAR): +8.6% to EUR89.89
Local currency, October 2018 vs. October 2017
• Occupancy: +5.6% to 85.7%
• ADR: +17.9% to EUR138.88
• RevPAR: +24.5% to EUR119.07
The absolute RevPAR level was the highest for any month in STR’s Madrid database. STR analysts attribute a 7.4% jump in demand (room nights sold) to the CPhI Worldwide pharmaceutical conference (9-11 October) as well as the overall health of the market.
• Occupancy: -1.4% to 84.9%
• ADR: +3.2% to EUR158.87
• RevPAR: +1.8% to EUR134.96
STR analysts attribute the strong performance to multiple events held in October: Helitech International (16-18 October), the Offshore Energy Exhibition & Conference (22-24 October) and the Amsterdam Dance Event (17-21 October).
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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