Europe’s hotel industry reported positive results in the three key performance metrics during October 2017, according to data from STR.
Euro constant currency, October 2017 vs. October 2016
- Occupancy: +1.7% to 76.0%
- Average daily rate (ADR): +4.0% to EUR112.75
- Revenue per available room (RevPAR): +5.8% to EUR85.68
Local currency, October 2017 vs. October 2016
• Occupancy: +3.6% to 84.3%
• ADR: +4.1% to CZK2,334.36
• RevPAR: +7.8% to CZK1,968.95
The absolute occupancy level was the highest for any October on record in the country. Levels were lifted by performance in Prague, which also set an October occupancy record (89.9%). The market hosted the World Sleep Congress from 7-11 October, and occupancy was above 90% on both 9 and 10 October.
• Occupancy: +1.6% to 78.5%
• ADR: +5.9% to EUR124.60
• RevPAR: +7.6% to EUR97.80
STR analysts note that the country has shown consistent occupancy growth throughout 2017. At the market level, Amsterdam (EUR134.17), Utrecht (EUR85.81) and The Hague (EUR83.26) recorded the highest actual RevPAR levels.
• Occupancy: +22.9% to 64.2%
• ADR: +15.9% to TRY272.08
• RevPAR: +42.5% to TRY174.55
The country continues to recover from the 2016 coup d'état attempt, which contributed to a 52.2% October occupancy level last year. That level was the lowest for an October in Turkey since 2001. This October was the fourth consecutive month with double-digit occupancy growth in the country.
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