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 March 2014.
Highlights from key market performers for March
2014 include (year-on-year comparisons, all currency in Euros):
- Athens, Greece, reported the largest occupancy
increase, rising 27.0% to 58.8%.
- Istanbul, Turkey (-16.3% to 61.0%), and
Prague, Czech Republic (-10.1% to 57.8%), reported the largest
- Five markets experienced double-digit ADR
growth: Copenhagen, Denmark (+16.4% to EUR112.85); Manchester,
England (+13.2% to EUR86.44); Vilnius, Lithuania (+13.2% to
EUR54.51); Tallinn, Estonia (+10.9% to EUR71.86); and London,
England (+10.0% to EUR158.39).
- Moscow, Russia, reported the largest ADR
decrease, falling 17.4% to EUR124.85.
- Three markets achieved RevPAR increases of
more than 25%: Athens (+32.2% to EUR50.77); Vilnius (+29.8% to
EUR27.25); and Copenhagen (+29.6% to EUR71.17).
- Istanbul fell 25.1% in RevPAR to EUR77.63,
reporting the largest decrease in that metric.
“Occupancy and average daily rate during the
first quarter performed on par in the region,” said Elizabeth
Winkle, managing director of STR Global. “Of the sub-regions,
Northern Europe reported double-digit revenue-per-available-room
growth in both March and throughout the first quarter. The U.K.,
Lithuania and Denmark are driving this growth with strong
first-quarter performance. Lithuania’s strong performance is
coming off low year-over-year comparisons. U.K. is reporting
strong growth as its RevPAR increased 10.2% over last year when
measured in pounds.”
During the Q1 2014, Europe’s occupancy rose 2.8%
to 59.5%; ADR increased 2.2% to EUR98.36; and RevPAR was up 5.1%
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