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Thu, 26 November 2015

Hotels in Europe Report Increase in ADR, OR and RevPAR

According to October 2015 data compiled by STR Global, the European hotel industry recorded positive results in the three key performance metrics when reported in Euro constant currency.

Compared to October 2014, Europe reported a 2.5% increase in occupancy to 76.1%, a 6.5% increase in ADR to EUR117.78 and a 9.2% increase in RevPAR to EUR89.58.

Performance of featured countries for October 2015 (local currency, year-on-year comparisons):

Germany reported increases in each of the three key performance metrics: occupancy (+1.6% to 77.0%), ADR (+6.4% to EUR107.67) and RevPAR (+8.1% to EUR82.91). German hotels benefitted from a mix of international fairs such as the ANUGA Food Show in Cologne (10-14 October), ceramitec in Munich (20-23 October) and the European Petrochemical Associations (EPCA) annual meeting in Berlin (3-7 October).

Occupancy in Malta remained nearly flat (-0.8% to 88.8%), but the country reported double-digit growth for ADR (+14.0% to EUR129.72) and RevPAR (+13.1% to EUR115.20). October was the fifth month in a row in which hotels in Malta experienced double-digit growth in RevPAR. ADR in the country received a boost from a European Poker Tour event on 20-31 October.

Poland recorded a 4.9% increase in occupancy to 77.1%, a 3.7% rise in ADR to PLN275.31 and an 8.8% increase in RevPAR to PLN212.31. STR Global analysts point to strong leisure visitation for the reason behind the countrys October year-to-date RevPAR of EUR183.98, the highest for that time period since 2007.

Spain posted a 5.7% rise in occupancy to 77.1% as well as double-digit increases in ADR (+13.8% to EUR104.26) and RevPAR (+20.3% to EUR80.43). Spains absolute occupancy for October was its highest since 2000, while RevPAR reached its highest level for the month since 2002. Barcelona hosted four medical conferences in October: the 54th Annual Meeting of the European Society for Paediatric Endocrinology (ESPE) on 1-3 October; the 31st Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS) on 7-10 October; the CPhl worldwide exhibition on 4-6 October; and the 23rd United European Gastroenterology (UEG) week on 24-28 October.

Athens, Greece, reported decreases across the key performance metrics. Occupancy in the market fell 8.9% to 70.1%; ADR was down 1.1% to EUR113.31; and RevPAR dropped 9.9% to EUR79.48. SETE Association of Greek Tourism Enterprises reported a 25.1% increase in third-quarter international arrivals in Athens. According to STR Global analysts, the increase did not translate into bookings and suggests that visitors opted for different forms of accommodation.

London, England, saw occupancy (+0.5% to 88.4%) remain almost flat. ADR in the market was up 6.6% to 160.49, and RevPAR increased 7.2% to 141.81. October events in the market included: the Rugby World Cup; two National Football League games; Helitech International; and TabExpo.

Milan, Italy, saw the top performance increases for any of the key markets in Europe: occupancy (+26.3% to 90.8%), ADR (+38.9% to EUR184.95) and RevPAR (+75.4% to EUR167.92). Hotels in the market benefitted greatly from the final month of Expo Milano 2015.

Paris, France, saw minor decreases in the three key performance measurements: occupancy (-0.4% to 85.7%), ADR (-1.2% to EUR279.48) and RevPAR (-1.6% to EUR239.57). Performance in the market was weakened due to a lack of events when compared with October 2014.

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