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 Great British
Pounds for February 2015.
Northern Europe saw double-digit growth for both
ADR (+14.8% to EUR108.13) and RevPAR (+18.3% to EUR76.96).
“Northern Europe’s hotel performance is largely
dominated by the United Kingdom,” said Elizabeth Winkle, managing
director of STR Global. “In Sterling, the
sub-region’s RevPAR growth was up almost 5% in comparison. The
difference was impacted by the strength of the British Pound
against a weaker Euro.”
Europe RevPAR increased by 5.9% to EUR69.68, driven by ADR
(+3.4% to EUR115.15) and occupancy (+2.4% to 60.5%).
Southern Europe recorded slight ADR growth of
1.1% to EUR91.76, whereas Eastern Europe reported double-digit
declines in both ADR (-15.6% to EUR69.20) and RevPAR (-12.0% to
“The conflict between Russia and Ukraine,
sanctions and the plummeting of gas prices are negatively
impacting the region,” Winkle said.
Amongst countries in Europe, six experienced
RevPAR increases of at least 20.0% when reported in Euros:
Lithuania (+35.6% to EUR26.50); Croatia (+24.3% to EUR15.99);
Ireland (+23.2% to EUR63.12); Malta (+23.0% to EUR46.23); Hungary
(+20.8% to EUR31.49); and the United Kingdom (+20.7% to EUR81.40).
“With the Euro being at a 12-year low against a
strengthening U.S. Dollar, an increasing number of U.S. travellers
are expected to visit Europe in 2015,” Winkle said. “However,
slower economic activity and a weaker Euro may affect business
travel across the region, as well as outbound travel to the U.S.”
Highlights from key market performers for
February 2015 include (year-over-year comparisons, all currency in
- Five markets recorded double-digit occupancy
increases, led by Vilnius, Lithuania, where occupancy was up 21.5%
to 49.4%. Warsaw, Poland, followed with a 17.5% occupancy increase
- Moscow, Russia, reported the largest occupancy
decrease, falling 5.7% to 58.2%.
- Manchester, England, reported the largest ADR
increase for the month, up 24.9% to EUR99.72.
- Barcelona, Spain, reported the largest ADR
decrease, falling 29.6% to EUR98.79. Moscow experienced the
second-largest ADR decrease, dropping 28.4% to EUR90.29.
- Four markets experienced RevPAR increases of
more than 20.0%, including Vilnius (+38.5% to EUR28.10).
Manchester followed with a 31.8% increase to EUR81.56.
- Barcelona (-33.3% to EUR58.54) and Moscow
(-32.5% to EUR52.58) reported the largest RevPAR decreases.
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