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European Hotel Industry Performance in May 2009

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The European hotel industry posted mixed year-on-year results when reported in US$, Euros and British Pounds for May 2009.

 According to data compiled by STR Global, figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to single-digit gains, depending on the market and the currency used for comparison.

“Europe’s troubles can be found in the fall of average room rates,” said James Chappell, managing director of STR Global. “In U.S. dollar and Euro terms, the region reports the highest drops in ADR for the month and year-to-date May compared to Asia Pacific, the Americas and Middle East / Africa.”

“For May, of the 40 markets tracked on our European Hotel Review, only four increased their average rates in local currency terms: Frankfurt, Tel Aviv and the northern European markets of Helsinki and Malmo”, Chappell added. “The trade fairs helped Frankfurt to achieve the highest ADR increase of 22% for the 40 markets tracked.”

Year-on-year May 2009 figures for Europe (US$, Euros and British Pounds):

  Europe % change
Occupancy 64% - 9.7%
ADR (US$) $137.54 - 20.4%
ADR (Euros) €97.24 - 12.5%
ADR (GBP) £84.99 - 2.5%
RevPAR (US$) $88.01 - 28.1%
RevPAR (Euros) €62.22 - 21%
RevPAR (GBP) £54.38 - 12%
Source: STR Global

Highlights from market performers for May 2009 include (year-over-year results, all currency figures are in Euros):

• Frankfurt, Germany, reported the largest occupancy increase, rising 7.6% to 59.9%.

• Budapest, Hungary, experienced the largest occupancy decrease, falling 21.5% to 60.4%, followed by Geneva, Switzerland (-21.2% to 58.8%) and Tel Aviv, Israel (-21% to 71%).

• Frankfurt posted a 22.4% jump in ADR to EUR114.47, the largest increase of that metric.

• Three markets posted ADR decreases of more than 25%: Moscow, Russia (-41.9% to EUR165.49); Düsseldorf, Germany (-32.9% to 79.34); and Cardiff, United Kingdom (-25.5% to EUR64.90).

• Frankfurt reported the only RevPAR increase, up 31.7% to EUR68.55.

• Seven markets experienced RevPAR decreases of 30% or more: Moscow (-49.7% to EUR101.15); Düsseldorf (-41.5% to EUR41.52); Madrid, Spain (-36.4% to EUR61.15); Budapest (-34.4% to EUR45.48); Prague, Czech Republic (-33.2% to EUR59); Stockholm, Sweden (-32.8% to EUR77.41); and Dublin, Ireland (-30 to EUR59.17).

Performances of key countries in May (all monetary units in local currency):

Country Occupancy % change ADR % change RevPAR % change
Germany 63.9% -3.1% EUR81.30 -5.7% EUR51.98 - 8.7%
Italy 61% -11.1% EUR134.74 -8.5% EUR82.17 -18.7%
Russia 52.7% -20.7% RUB6360.46 -24.3% RUB3350.30 - 39.9%
Spain 59.4% -14.7% EUR81.31 -12.3% EUR48.26 - 25.2%
United Kingdom 69.9% - 5.2% GBP77.66 -6.8% GBP54.30 - 11.6%
percentages are increases/decreases for May 2009 vs. May 2008
Source: STR Global

See other recent news regarding: Airlines, Aviation, Flights, First Class, Business Class, GDS, Miles, Hotels, Promotions, New Hotels, Visitor Arrivals, Cruises, Free Deals, Europe, Statistics, STR, May 2009

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