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European Hotel Industry Performance in August 2009

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According to data compiled by STR Global, figures for the European hotel industry's occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains in August 2009, depending on the market and the currency used for comparison.

“With the help of leisure demand in this summer holiday season, Italy reported a strong performance in occupancy,” said Elizabeth Randall, managing director of STR Global. “Italy reported a 4.6% increase in occupancy for the month. Among the key markets, the Italian markets performed best in occupancy, Rome was up 17.9%, Florence rose 13.4%, and Venice increased 10.2%. The Spanish markets were also positively affected by leisure travel, Barcelona reported an increase of 8.2% in occupancy for the month.”

Key Market Highlights for August 2009 (year-on-year)

• Three markets reported double-digit occupancy increases: Rome, Italy (+17.9% to 64.8%); Florence, Italy (+13.4% to 57.6%); and Venice, Italy (+10.2% to 68.3%).

• Geneva, Switzerland, was the only market to experience an occupancy decrease of more than 20%, falling 21% to 56.7%.

• Geneva posted the largest ADR increase, up 6.5% to EUR247.11, followed by Barcelona, Spain (+4.7% to EUR115.34).

• Three markets experienced ADR decreases of more than 20%: Moscow, Russia (-39.2% to EUR105.64); Munich, Germany (-31.0% to EUR74.12); and Budapest, Hungary (-22.6% to EUR59.83).

• Barcelona reported the largest RevPAR increase, up 13.3% to EUR88.00, followed by Rome with a 9.8-percent increase to EUR73.46.

• Four markets posted RevPAR decreases of more than 25%: Moscow (-44.9% to EUR61.84); Munich (-35.7% to EUR47.49); Budapest (-29.1% to EUR39.88); and Oslo, Norway (-26.0% to EUR71.14).

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