According to data compiled by STR Global, the
European hotel industry posted mixed results in year-on-year
metrics when reported in U.S. dollars, Euros and British Pounds
for August 2014.
Highlights from key market performers for August
2014 include (year-on-year comparisons, all currency in Euros):
Istanbul, Turkey, reported the largest occupancy
increase, rising 18.1% to 77.9%, followed by Athens, Greece
(+17.8% to 73.0%), and Madrid, Spain (+16.5% to 52.4%).
Moscow, Russia (-17.0% to 60.0%) reported the largest occupancy
Geneva, Switzerland (+15.7% to EUR257.48),
and Barcelona, Spain (+15.6% to EUR132.59), experienced the
largest ADR growth.
Moscow fell 18.2% to EUR92.68 in ADR,
reporting the largest decrease in that metric.
Four markets experienced RevPAR growth of
more than 20.0%: Athens (+30.8% to EUR76.80); Geneva (+30.5% to
EUR179.96); Madrid (+22.5% to EUR35.81) and Istanbul (+20.7%
“August was a strong month for Europe in terms
of RevPAR growth,” said Elizabeth Winkle, managing director of STR
Global. “This was primarily driven by strong performance across
the sub-regions. Northern and Southern Europe reported
double-digit RevPAR growth for the month. Strong demand is
boosting Southern Europe’s performance, while Northern Europe’s
14.8% increase was largely driven to currency fluctuations and FX,
as most of the countries in this region do not use the euro.
Western Europe, which has reported muted growth thus far in 2014,
saw an uptick during August despite the rainy summer season.”
The Middle East/Africa region reported mixed
performance for August 2014 when reported in U.S. dollars.
The region reported a 14.8% increase in
occupancy to 64.3%, a 7.5% decrease in ADR to
US$141.66 and a 6.3% increase in RevPAR to
Highlights among the Middle East/Africa region’s
key markets for August 2014 include (year-on-year comparisons,
all currency in U.S. dollars):
Cairo, Egypt, jumped
180.5% in occupancy to 58.8%, reporting the largest increase in
that metric, followed by Riyadh, Saudi Arabia (+35.1% to 48.3%),
and Beirut, Lebanon (+23.0% to 59.5%).
Nairobi, Kenya, fell
13.8% to 58.1% in occupancy, posting the only decrease in that
metric. Nairobi also led the RevPAR decreases, falling 18.2% to
Cape Town, South Africa (+8.7% to US$100.60), and
Cairo (+8.6% to US$108.29) achieved the largest ADR growth.
Dubai, United Arab Emirates, fell 5.6% to US$181.83 in ADR,
experiencing the largest decrease in that metric.
reported RevPAR growth of more than 20.0%: Cairo (+204.6% to
US$63.65); Riyadh (+28.7% to US$103.45); Cape Town (+26.8% to
US$61.46); Manama, Bahrain (+24.1% to US$110.52); Beirut (+23.2%
to US$101.17); and Jeddah, Saudi Arabia (+21.2% to US$206.23).
“This month RevPAR grew 6.3%, primarily driven by
occupancy growth across all sub-regions.” said Ms. Winkle. “Egypt reported strong
performance for the second consecutive month, due in part to low
performing comparables in 2013 when the country experienced an
outbreak of violence as the military moved to clear protest camps
and resulted in a period of political instability. The question
remains whether this uptick is the beginning of a turnaround for
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