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Monday, 27 July 2015

Hotels in Europe See Rise in ADR, OR and RevPAR in June 2015

According to June 2015 data compiled by STR Global, the hotels in Europe recorded positive results in the three key performance metrics when reported in Euro constant currency.

Compared to June 2014, hotels in Europe reported a 4.5% increase in occupancy to 78.1%, a 5.5% increase in ADR to EUR122.10 and a 10.2% increase in RevPAR to EUR95.34.

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

Finland reported mixed results in the three key performance metrics with a 1.4% increase in occupancy to 71.4%, a 0.5% decrease in ADR to EUR97.44 and a 0.9% increase in RevPAR to EUR69.59.

Italy posted a 7.4% increase in occupancy to 74.5% as well as double-digit growth in ADR (+12.3% to EUR167.62) and RevPAR (+20.5% to EUR124.81).

Romania reported positive results in the three key performance measurements: occupancy (+7.3% to 75.8%); ADR (+8.4% to RON328.63); and RevPAR (+16.3% to RON249.06). VAT in the country is set to decrease to 19% from 24% in 2016, a move which should further aid tourism. VAT was cut to 9% for hotel accommodation in January 2015.

Spain experienced a 3.5% increase in occupancy to 76.5%, an 8.4% lift in ADR to EUR97.58 and a 12.2% rise in RevPAR to EUR74.69.

Performance of featured cities for June 2015 (local currency, year-on-year comparisons):

Athens, Greece, saw occupancy rise 3.2% to 90.5%. However, ADR in the market was down 3.8% to EUR135.04 and RevPAR decreased 0.7% to EUR122.17.

Lisbon, Portugal, reported a 7.7% increase in occupancy to 84.0%. The market also recorded double-digit growth for ADR (+19.8% to EUR104.26) and RevPAR (+29.0% to EUR87.58). Year-end GDP in Portugal is expected to increase by 1.7%, according to Oxford Economics.

Milan, Italy, experienced double-digit increases for each of the three key metrics: occupancy (+10.9% to 76.5%), ADR (+29.5% to EUR177.63) and RevPAR (+43.7% to EUR135.82). Expo Milano 2015 reported 6.1 million attendees through June.

Zurich, Switzerland, reported increases in occupancy (+3.2% to 83.8%) and RevPAR (+2.5% to CHF206.89). ADR in the market fell 0.6% to CHF246.74.

See other recent news regarding: Interviews, Pictures, Videos, STR, ADR, RevPAR

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