TravelNewsAsia.com
Thu, 27 October 2016

Europe Reports Q3 2016 Increase in ADR and RevPAR

According to data compiled by STR, hotels in Europe recorded positive Q3 2016 results when reported in euro constant currency.

Compared with the three key performance metrics from Q3 2015, Europe reported a 0.5% decrease in occupancy to 77.7%, a 2.0% increase in ADR to EUR119.17 and RevPAR growth of 1.5% to EUR92.58.

Performance of featured countries for Q3 2016 (local currency, year-on-year comparisons):

Finland reported a strong quarter, mainly due to growth in ADR (+8.9% to EUR99.67). Occupancy also increased moderately (+0.4% to 71.5%), resulting in a 9.3% increase in RevPAR to EUR71.27. The absolute ADR level was a Q3 record for the country, and although occupancy growth was muted, the actual occupancy level was Finland’s highest for a third quarter since 2011. STR analysts note that weekday occupancy increased 5.6% to 70.6%, while weekend absolute occupancy was slightly higher at 71.9%.

Greece reached an absolute occupancy level of 81.9% (+5.8%), the highest on record for a Q3 in the country. ADR also increased 2.2% to EUR144.49, resulting in an 8.1% increase in RevPAR to EUR118.35. July was Greece’s strongest growth month of the quarter, with a 9.5% increase in RevPAR, while September produced the highest occupancy level (84.3%). In September, weekday business drove performance, with 11 days of double-digit RevPAR growth during the Sunday to Thursday periods throughout the month.

Ireland recorded its 10th consecutive quarter of double-digit RevPAR growth. Occupancy increased 0.6% to 89.6%, and ADR grew 13.9% to EUR133.04, resulting in a 14.5% lift in RevPAR to EUR119.22. September was a particularly strong month for the country’s hotels, as there were only two days without double-digit growth in RevPAR. Rate growth has been the driving factor for Ireland’s continued upward trajectory, as ADR is up 15.4% year to date. Occupancy is up 1.7% during the same nine-month time period.

Performance of featured markets for Q3 2016 (local currency, year-on-year comparisons):

Amsterdam, Netherlands, posted declines across the three key performance indicators due to a strong comparison base. Occupancy dropped 2.4% to 85.6%; ADR fell 1.2% to EUR134.92; and RevPAR declined 3.6% to EUR115.55. This performance, however, follows an exceptionally strong 2015, as the market recorded an 18.9% RevPAR increase in Q3 2015. Despite an overall year-on-year performance decline, Amsterdam maintained its highest September year-to-date actual ADR (EUR137.83) since 2001.

Paris, France, continued to feel the effects of security concerns in the country and the July terrorist attack in Nice. The market reported double-digit drops in occupancy (-15.2% to 71.6%) and RevPAR (-13.9% to EUR182.35), while ADR rose 1.5% to EUR254.55. September marked Paris’ 14th consecutive month of occupancy and RevPAR declines. Contrarily, ADR has fluctuated.

Warsaw, Poland, recorded strong growth mainly due to a 12.1% increase in ADR to PLN293.06. Occupancy increased 2.4% to 81.0%  and RevPAR grew 14.7% to PLN237.33. In September, Warsaw reached an actual occupancy level of 88.1%, the highest absolute level for any month on record in the market. Year to date through September, Warsaw’s performance has been largely driven by Group business (bookings of 10 or more at a time), with a 47.5% year-to-date occupancy increase in the segment.

Europe’s performance for September 2016 (euro constant currency, year-on-year comparisons):

Europe’s results were positive when compared with September 2015. The region reported a 0.8% increase in occupancy to 81.0%, a 2.6% rise in ADR to EUR123.23 and 3.4% lift in RevPAR to EUR99.77.

See other recent news regarding: STR, ADR, RevPAR

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Exclusive HD video interview with Mr. Fumihiro Sakakibara, General Manager - Japan, Macao Government Tourism Office. Aviation industry update from the Group CEO of AirAsia, Mr. Tony Fernandes, and Gary Chapman, Emirates' President Group Services and dnata. Exclusive HD video interview with Mr. John R. Rolfs, General Manager of The Ritz-Carlton, Tokyo and Vice President Japan & Korea. In this interview, filmed in a luxurious suite at The Ritz-Carlton, Tokyo on Sunday, 24 September 2017, we ask Mr. Rolfs to tell us more about the property.
Macao Tourism Update Aviation: AirAsia and Emirates The Ritz-Carlton, Tokyo
What exactly is going to happen to The Dusit Thani Bangkok hotel, when will it close, what about the staff, when will the new Dusit Thani Bangkok open and what will it be like? In this exclusive HD video interview with Ms. Sukanya Janchoo, General Manager of The Dusit Thani Bangkok, Steven Howard of TravelNewsAsia.com asks Khun Sukanya about the hotel, its markets, RevPAR and these major changes. Travelodge Hotels Asia’s Brands and Expansion Plans - Exclusive HD Video Interview with Stephen Burt, Chairman. Exclusive HD video interview with Alejandro Bernabe, Group Director of Avani Hotels and Resorts. We talk about Avani Hotels' future plans and what exciting new developments are in the pipeline. You will also learn that Avani is about to announce a new sub brand, is currently building its first resort with private pool villas and what the group's position is on new technology.
Dusit Thani Bangkok Travelodge Hotels Asia Avani Hotels & Resorts
Jonathan Wigley, CEO of Travelodge Thailand, outlines expansion plans in HD Video Interview. Exclusive HD video interview with Myanmar's Minister of Tourism and Hotels, H.E. U Ohn Maung, about the status of tourism in the beautiful and mystical country of Myanmar (formerly known as Burma). Birth of a Luxury Thai Hotel Brand - HD Video Interview with Christopher E. Stafford, Chief Operating Officer of the newly formed 137 Pillars Hotels & Resorts.
CEO of Travelodge Thailand Myanmar Tourism Update Birth of Luxury Thai Hotel Brand
This HD video tour of Thai AirAsia X's brand new 337-seat Airbus A330-300 aircraft was filmed at Don Mueang Airport in Bangkok, Thailand on 14 May 2014  Exclusive HD video interview with Jaime J. Bautista, President & Chief Operating Officer (COO) of Philippine Airlines (PAL) HD video of the interior and exterior of a Thai Vietjet Airbus A320-200.
Thai AirAsia X A330-300 PAL President & COO Thai Vietjet A320-200
Inside Qatar Airways Boeing 787-8 Dreamliner - HD Video It takes 800 workers between 65 and 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380. Showers, Bars, Lounge - The Emirates Airbus A380 Has Them All - HD Video Tour Thai Airways International Takes Delivery of Brand New Boeing 777-300ER
Qatar Airways B787 Emirates A380 Thai Airways B777-300ER
Latest Travel News
Advertising
Advertising
Copyright © 1997-2017 ASIATravelTips.com/TravelNewsAsia.com