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STR Reports European Hotel Performance for February 2015; ADR in Manchester Up 24.9%

Travel News Asia Latest Travel News Podcasts Videos Thursday, 26 March 2015

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 February 2015.

Northern Europe saw double-digit growth for both ADR (+14.8% to EUR108.13) and RevPAR (+18.3% to EUR76.96).

Northern Europes hotel performance is largely dominated by the United Kingdom, said Elizabeth Winkle, managing director of STR Global. In Sterling, the sub-regions RevPAR growth was up almost 5% in comparison. The difference was impacted by the strength of the British Pound against a weaker Euro.

In Western Europe RevPAR increased by 5.9% to EUR69.68, driven by ADR (+3.4% to EUR115.15) and occupancy (+2.4% to 60.5%).

Southern Europe recorded slight ADR growth of 1.1% to EUR91.76, whereas Eastern Europe reported double-digit declines in both ADR (-15.6% to EUR69.20) and RevPAR (-12.0% to EUR35.37).

The conflict between Russia and Ukraine, sanctions and the plummeting of gas prices are negatively impacting the region, Winkle said.

Amongst countries in Europe, six experienced RevPAR increases of at least 20.0% when reported in Euros: Lithuania (+35.6% to EUR26.50); Croatia (+24.3% to EUR15.99); Ireland (+23.2% to EUR63.12); Malta (+23.0% to EUR46.23); Hungary (+20.8% to EUR31.49); and the United Kingdom (+20.7% to EUR81.40).

With the Euro being at a 12-year low against a strengthening U.S. Dollar, an increasing number of U.S. travellers are expected to visit Europe in 2015, Winkle said. However, slower economic activity and a weaker Euro may affect business travel across the region, as well as outbound travel to the U.S.

Highlights from key market performers for February 2015 include (year-over-year comparisons, all currency in Euros):

- Five markets recorded double-digit occupancy increases, led by Vilnius, Lithuania, where occupancy was up 21.5% to 49.4%. Warsaw, Poland, followed with a 17.5% occupancy increase to 69.1%.

- Moscow, Russia, reported the largest occupancy decrease, falling 5.7% to 58.2%.

- Manchester, England, reported the largest ADR increase for the month, up 24.9% to EUR99.72.

- Barcelona, Spain, reported the largest ADR decrease, falling 29.6% to EUR98.79. Moscow experienced the second-largest ADR decrease, dropping 28.4% to EUR90.29.

- Four markets experienced RevPAR increases of more than 20.0%, including Vilnius (+38.5% to EUR28.10). Manchester followed with a 31.8% increase to EUR81.56.

- Barcelona (-33.3% to EUR58.54) and Moscow (-32.5% to EUR52.58) reported the largest RevPAR decreases.

STR, Europe, ADR, RevPAR, Manchester

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