- Edinburgh hotels show lower occupancy and room rates due to supply growth
- Saint Petersburg posts significant performance level
Europe’s hotel industry reported positive results in the three key performance metrics during February 2019, according to data from STR.
Euro constant currency, February 2019 vs. February 2018
- Occupancy: +0.1% to 65.0%
- Average daily rate (ADR): +1.9% to EUR100.60
- Revenue per available room (RevPAR): +2.0% to EUR65.34
Local currency, February 2019 vs. February 2018
- Occupancy: -1.8% to 70.1%
- ADR: -10.7% to GBP74.40
- RevPAR: -12.3% to GBP52.18
STR analysts note that although performance was down year over year, the absolute levels in the metrics were well above February averages for the market. Supply (+6.2%) outgrew solid demand (+4.2%) and pressured both occupancy and ADR.
Saint Petersburg, Russia
- Occupancy: +6.7% to 45.5%
- ADR: +2.6% to RUB4,128.27
- RevPAR: +9.5% to RUB1,877.22
The absolute RevPAR level was the highest for any February in STR’s database. Strong demand growth (+6.5%), helped by the final stages of the St. Petersburg Open early in the month, and mostly flat supply (-0.2%) factored into overall positive performance in the market.
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