- Tel Aviv performance reflects strong demand
- Athens caps off strong summer season
Europe’s hotel industry reported positive results across the three key performance metrics during August 2019, according to data from STR.
Euro constant currency, August 2019 vs. August 2018
• Occupancy: +0.4% to 77.7%
• Average daily rate (ADR): +1.0% to EUR118.70
• Revenue per available room (RevPAR): +1.4% to EUR92.25
Local currency, August 2019 vs. August 2018
Tel Aviv, Israel
• Occupancy: +7.5% to 73.9%
• ADR: -2.6% to ILS954.83
• RevPAR: +4.7% to ILS705.47
The absolute occupancy and RevPAR levels were the highest for an August in Tel Aviv since 2015. STR analysts note that demand (+8.8%) significantly outgrew supply (+1.2%) in year-over-year comparisons.
• Occupancy: +10.7% to 81.4%
• ADR: +23.4% to EUR160.22
• RevPAR: +36.6% to EUR130.41
The absolute levels for each of the three key performance metrics were the highest for an August in Athens since 2004. STR analysts note that a rise in popularity among U.S. and Asian travelers, along with new non-stop airline routes, have helped demand in the market. Overall, the summer months in Athens have been particularly strong compared to recent years as Greece is a popular leisure destination.
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