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STR Reports June 2013 Performance of Hotels in Europe

Travel News Asia Latest Travel News Podcasts Videos Thursday, 25 July 2013
 

According to data compiled by STR Global, the European hotel industry posted mostly positive results in year-on-year metrics when reported in U.S. dollars, Euros and British pounds for June 2013.

During the first six months of 2013, the region reported a 2.0% increase in occupancy to 64.9%, a 0.8% decrease in ADR to EUR101.64 and a 1.2% rise in RevPAR to EUR65.94.

As we expected, many countries in Europe reported flat growth in either occupancy or ADR during the first half of 2013, and we anticipate this trend to continue during the second half of the year, said Elizabeth Winkle, managing director of STR Global. Istanbul, Turkey, reported a sharp occupancy decline this month as a result of the unrest in the market, though ADR has not fallen quite as much. Select markets in Southern Europe continued to report growth. Milan, Italy, hosted the European Society of Hypertension 2013 annual conference this month, helping the markets performance. Lisbon, Portugal, also hosted a number of medical congresses throughout the month, which gave a healthy boost to performance.

Highlights from key market performers for June 2013 include (year-on-year comparisons, all currency in Euros):

- Athens, Greece, reported the only double-digit occupancy increase, rising 13.5% to 74.4%.

- Istanbul, Turkey, fell 18.9% in occupancy to 68.0%, posting the largest decrease in that metric.

- Three markets reported double-digit ADR growth: Lisbon, Portugal (+17.9% to EUR106.39); Vilnius, Lithuania (+13.8% to EUR57.03); and Paris, France (+10.7% to EUR335.89).

- Warsaw, Poland, fell 55.4% in ADR to EUR75.24, reporting the largest decrease in that metric.

- Six markets achieved RevPAR increases of more than 10%: Lisbon (+26.9% to EUR80.02); Milan, Italy (+21.9% to EUR94.96); Athens (+18.3% to EUR86.62); Vilnius (+18.1% to EUR43.48); Budapest, Hungary (+13.3% to EUR56.88); and Paris (+11.2% to EUR305.60).

- Warsaw (-53.0% to EUR61.53) and Istanbul (-23.0% to EUR116.95) ended the month with the largest RevPAR decreases.

STR, Europe

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