European Hotel Industry Performance in August 2009

According to data compiled by STR Global, figures for the European hotel industry's occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains in August 2009, depending on the market and the currency used for comparison.

“With the help of leisure demand in this summer holiday season, Italy reported a strong performance in occupancy,” said Elizabeth Randall, managing director of STR Global. “Italy reported a 4.6% increase in occupancy for the month. Among the key markets, the Italian markets performed best in occupancy, Rome was up 17.9%, Florence rose 13.4%, and Venice increased 10.2%. The Spanish markets were also positively affected by leisure travel, Barcelona reported an increase of 8.2% in occupancy for the month.”

Key Market Highlights for August 2009 (year-on-year)

• Three markets reported double-digit occupancy increases: Rome, Italy (+17.9% to 64.8%); Florence, Italy (+13.4% to 57.6%); and Venice, Italy (+10.2% to 68.3%).

• Geneva, Switzerland, was the only market to experience an occupancy decrease of more than 20%, falling 21% to 56.7%.

• Geneva posted the largest ADR increase, up 6.5% to EUR247.11, followed by Barcelona, Spain (+4.7% to EUR115.34).

• Three markets experienced ADR decreases of more than 20%: Moscow, Russia (-39.2% to EUR105.64); Munich, Germany (-31.0% to EUR74.12); and Budapest, Hungary (-22.6% to EUR59.83).

• Barcelona reported the largest RevPAR increase, up 13.3% to EUR88.00, followed by Rome with a 9.8-percent increase to EUR73.46.

• Four markets posted RevPAR decreases of more than 25%: Moscow (-44.9% to EUR61.84); Munich (-35.7% to EUR47.49); Budapest (-29.1% to EUR39.88); and Oslo, Norway (-26.0% to EUR71.14).

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