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STR Reports Europe Hotel Results for March 2015

Travel News Asia Latest Travel News Podcasts Videos Thursday, 30 April 2015
 

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 March 2015.

Amongst Europe’s sub-regions, hotels in Northern Europe saw double-digit growth in ADR (+14.2% to EUR110.53) and RevPAR (+16.2% to EUR80.31) when compared to March 2014.

Within the sub-region, hotels in Ireland drove the increases with significant gains in both ADR (+9.4% to EUR97.33) and RevPAR (+17.9% to EUR71.81).

Southern Europe (+13.0% to EUR61.90) also experienced a double-digit increase in RevPAR. Spain served as the primary driving factor for the sub-region with a 22.7% increase in RevPAR to EUR64.45. Barcelona, Spain, hosted the Mobile World Congress Conference in early March.

Eastern Europe recorded the highest occupancy increase (+8.3% to 56.2%) but experienced the steepest decline in ADR (-5.1% to EUR70.14).

Amongst countries in Europe, seven experienced RevPAR increases of at least 15.0% when reported in Euros: Malta (+26.7% to EUR58.85); Spain (+22.7% to EUR64.45); Lithuania (+18.7% to EUR28.55); Czech Republic (+18.6% to EUR38.04); Hungary (+18.6% to EUR38.01); Ireland (+17.9% to EUR71.81); and Slovakia (+15.0% to EUR32.23).

Slovakia posted the highest increase in occupancy, up 13.1% to 53.3%.

Russia experienced the largest decreases in ADR (-21.1% to EUR76.52) and RevPAR (-18.2% to EUR37.94). The country’s performance continues to be affected by international sanctions. The devaluation of the Russian ruble, which began late last year, has also led to greater performance drops for the first quarter of 2015 when compared to the same months from 2014.

Highlights from key market performers for March 2015 include (year-on-year comparisons, all currency in Euros):

Six markets recorded double-digit occupancy increases, led by Copenhagen, Denmark, where occupancy was up 12.5% to 70.9%.

Moscow, Russia, reported the largest occupancy decrease, falling 6.7% to 55.8%.

Barcelona experienced the largest ADR increase for the month, up 44.0% to EUR148.55.

Moscow reported the largest ADR decrease, falling 22.2% to EUR95.49. Saint Petersburg, Russia, experienced the second-largest ADR decrease, dropping 14.4% to EUR55.31.

Barcelona experienced a remarkable RevPAR increase of +53.9% to EUR108.12.

Moscow (-27.4% to EUR53.24) reported the largest RevPAR decrease.

STR, ADR, RevPAR

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