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Thu, 27 July 2017

Hotels in Europe Report Q2 2017 Increase in ADR, OR and RevPAR

According to data compiled by STR, the hotel industry in Europe reported positive results in the three key performance metrics for the second quarter of 2017.

In Euro constant currency, Q2 2017 vs. Q2 2016, Europe reported an increase in Occupancy of 2.1% to 75.1%, ADR rose 4.4% to EUR114.10 and RevPAR increased 6.5% to EUR85.67.

Germany reported in slight drop in Occupancy of -0.8% to 73.8%, ADR was down 0.4% to EUR101.24, and RevPAR fell by 1.1% to EUR74.76.

The Compleat Angler, Marlow, England

Supply growth (+1.1%) played a role in the overall performance decrease for the country, reaching 1% for the first time since Q4 2014. Despite the performance at the national level, Q2 RevPAR growth was strong in Cologne (+14.9%) and Hamburg (+14.5%). Performance in Cologne was due to large events such as Art Cologne (April) and the IIHF Ice Hockey World Championship (May). Hamburgs levels received a lift ahead of the G20 summit in early July.

In the Netherlands, Occupancy was up 3.9% to 79.5%, ADR increased by 6.0% to EUR129.19 and RevPAR jumped 10.1% to EUR102.72.

The absolute occupancy level was the highest for a Q2 in the Netherlands since 2006. Performance growth was especially pronounced in April (RevPAR: +14.2%). At the market level, Amsterdam reported double-digit RevPAR growth (+10.5%) for the quarter, due primarily to a 7.5% lift in ADR to EUR164.91.

In the United Kingdom Q2 2017 Occupancy rose by 1.0% to 79.6%, ADR was up 5.2% to GBP94.22 and RevPAR increased by 6.3% to GBP75.05.

STR analysts note that the devaluation of the GBP continues to drive inbound travel and stronger domestic tourism in the U.K. At the market level, London recorded an 8.4% rise in RevPAR to GBP127.33, due primarily to a 6.4% increase in ADR to GBP152.70. The market saw only moderate declines in occupancy following the 3 June terrorist attack at London Bridge. Performance growth soon returned and was boosted around Eid Mubarak as London typically welcomes a high volume of visitors from the Middle East during the holiday. Q2 performance growth for Regional U.K. was lower with a RevPAR of +4.8%.

See other recent news regarding: STR, ADR, RevPAR.

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