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Three Markets in Europe Report RevPAR Growth of Over 30%; Moscow Hit Hard

Travel News Asia Videos Podcasts Latest Travel News Asia Friday, 24 October 2014
 

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 September 2014.

In September, Europe reported some pickup in rate, primarily in Northern Europe, driven by strong performance in the U.K and Ireland, said Elizabeth Winkle, managing director of STR Global. Across Europe, several countries achieved occupancy levels of 80% or more. September tends to be a busy month for conference and congress travel. Madrid hosted ESMO Congress, and as a result, the city's RevPAR grew by 46.7% for the month, when measured in Euros.

Highlights from key market performers for September 2014 include (year-on-year comparisons, all currency in Euros):

Athens, Greece, reported the largest occupancy increase, rising 17.8% to 88.6%, followed by Madrid, Spain (+13.1% to 79.1%), and Lisbon, Portugal (+11.3% to 91.5%).

Moscow, Russia, fell 12.3% to 67.8% in occupancy, reporting the largest decrease in that metric.

Three markets in Europe achieved ADR growth of more than 15.0%: Edinburgh, Scotland (+30.2% to EUR133.75); Madrid (+29.6% to EUR107.91); and Manchester, England (+16.8% to EUR97.30).

Three markets experienced RevPAR increases of more than 30.0%: Madrid (+46.7% to EUR85.31); Athens (+33.4% to EUR98.62); and Edinburgh (+32.1% to EUR123.98).

Moscow reported the largest ADR (-15.6% to EUR118.27) and RevPAR (-26.0% to EUR80.15) decrease in September.

Year-to-date 2014, when measured in Euros, Europes occupancy rose 2.1% to 69.5%; its ADR was up 3.7% to EUR106.64; and its RevPAR increased 5.9% to EUR74.07.

During the third quarter Europe saw the largest ADR growth this year when measured in Euros, Ms. Winkle added. In year-to-date results, supply growth is performing on par (+1.0%) while demand growth is ahead (+3.2%) when compared to last year.

STR, ADR, RevPAR

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