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European Hotel Results for March 2009

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The European hotel industry reported mixed year-over-year results when reported in U.S. dollars, Euros and British Pounds for the month of March 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.

Year-over-year March 2009 figures for Europe (U.S. dollars, Euros and British Pounds):

  Europe % change
Occupancy 58.6% -5.6%
ADR (U.S. Dollars) $124 -23.9%
ADR (Euros) €93.91 -8.9%
ADR (British Pounds) £87.27 +6.6%
RevPAR (U.S. Dollars) $72.64 -28.1%
RevPar (Euros) €55.01 -14%
RevPAR (British Pounds) £51.12 +0.6%
Source: STR Global

“The annual Easter mismatch has had a positive effect on European performance but has only extended to a very limited number of markets,” said James Chappell, managing director of STR Global. “Europe as a whole fell 14% in RevPAR, up from the 19% drop in February, with southern Europe again bearing the brunt of the hit and dropping by over 20% in RevPAR.”

“Outside of southern Europe, other Markets fared far better, with the United Kingdom falling in RevPAR only 6% compared to February’s decrease of 10%,” Chappell continued. “Scandinavia was 21% positive in RevPAR, and Germany was up by 6.7% in RevPAR. There is huge concern over Spain and Italy, which fell in RevPAR by 26% and 15%, respectively, as the Easter effect will be reversed next month. I think we can look forward to some eye-watering numbers in April in those markets.” 

Key year-over-year market performers include (all currency figures are in Euros):

• Four key markets reported double-digit occupancy increases: Cologne, Austria (+17.5% to 65.7%); Frankfurt, Germany (+16.6% to 64.6%); Oslo, Norway (+14.3% to 63%); and Stockholm, Sweden (+11.9% to 65.2%).

• Tel Aviv, Israel, reported the largest occupancy decrease, which was down 30.2% to 53.5%, followed by Salzburg, Austria (-24.4% to 43%) and Budapest, Hungary (-24.0% to 46.5%).

• Tel Aviv (+19.8% to EUR150.99) and Cologne (+18.2% to EUR116.52) were the only two markets to report double-digit ADR increases.

• Four markets reported ADR decreases of more than 20%: Salzburg (-32.9% to EUR78.15); Moscow, Russia (-29.9% to EUR179.17); Reading/M4 Corridor, Great Britain (-22.9% to EUR79.22); and Barcelona, Spain (-21.3% to EUR104.08).

• Two markets reported double-digit increases in RevPAR: Cologne (+38.9% to EUR76.59) and Frankfurt (+26.3% to EUR77.85).

• Four markets reported RevPAR decreases of more than 30%: Salzburg (-49.3% to EUR33.62); Barcelona (-33.5% to EUR55.78); Florence, Italy (-32.6% to EUR58.27); Moscow (-32.6% to EUR111.14).

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

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