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Hotels in Europe Report Mixed Results for October 2014

Travel News Asia Videos Podcasts Latest Travel News Asia Tuesday, 25 November 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 October 2014.

Each month this year, Europe has reported either flat or positive performance in the three key performance metrics, said Elizabeth Winkle, managing director of STR Global. October performance was no different. Actual ADR (EUR110.42) for the month was the highest rate weve seen in any October in the past 10 years. Compared to last year, ADR increased 3.8%. The ADR growth is driven mostly by Northern Europe, with help from Southern Europe.

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

- Athens, Greece, reported the only double-digit occupancy increase, rising 18.2% to 79.6%.

- Seven markets achieved ADR increases of more than 10.0%: Geneva, Switzerland (+14.6% to EUR243.28); Manchester, England (+12.9% to EUR94.32); Lisbon, Portugal (+12.0% to EUR97.86); Amsterdam, Netherlands (+11.1% to EUR161.27); Paris, France (+10.8% to EUR295.21); Budapest, Hungary (+10.4% to EUR75.37); and Edinburgh, Scotland (+10.2% to EUR99.14).

- Moscow, Russia, reported the largest ADR decrease, falling 21.7% to EUR110.89. The market also experienced the largest RevPAR decrease, down 29.1% to EUR72.45.

- Six markets reported RevPAR increases of more than 15.0%: Athens (+27.8% to EUR85.01); Geneva (+20.6% to EUR173.46); Lisbon (+20.4% to EUR83.12); Madrid, Spain (+18.3% to EUR74.87); Budapest (+18.2% to EUR58.64); and Manchester (+15.3% to EUR79.78).

In Northern Europe, when measured in local currency year to date, markets such as Dublin, London, Copenhagen and Edinburgh have contributed to ADR growth, Winkle said. With the exception of Dublin, the markets mentioned do not use the euro, which has an overall impact on the exchange rate. When measuring in constant currency, year-to-date ADR increased 4.4% for the Northern region. Athens, Lisbon and Madrid have all have contributed to Southern Europes ADR growth. Year to date, Western Europe still is achieving the highest actual ADR levels (EUR117.34) of all sub-regions. Amsterdam, Geneva, Paris, and Zurich saw the highest year-to-date ADR levels in the region, when measured in Euros.

STR, ADR, October 2014, RevPAR

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