The European hotel industry posted mixed results in year-over-year metrics in August, according to data compiled by STR Global.
"The recovery in the European hotel market continues in August, with increases across all three performance measures when measured in euros," says Elizabeth Randall, managing director of STR Global. "Whilst these results are still influenced by the weak comparables last year, the better economic conditions and the return of the business and MICE segments have assisted the recovery. This demand pick-up has helped hoteliers to start rebuilding their average daily rates, which is for year-to-August, however, still about €10 below the year-to-date results achieved in 2008.
A notable exception is London, which has achieved the highest year-to-date RevPAR results (£99.33) since 2004, aided by the weak exchange rate on the sterling. June and July were the best-performing months across that time frame.
Frankfurt experienced Europe’s biggest occupancy increase in August, rising 22.6% to 58.2%, followed by Lisbon (up 19.7% to 77.5%) and Antwerp (up 16.8% to 66.5%). Three markets posted occupancy decreases of more than 5%: Athens (down 7.8% to 52.5%), Geneva (down 7.2% to 54.3%) and Aberdeen (off 6.8% to 69.4%).
Three markets ended the month with ADR increases of more than 20%: Stockholm (up 39.9% to €130.45); Malmo, Sweden (up 25.2% to €85.99); and Zurich (up 22.4% to €169.74). Barcelona posted the only double-digit ADR decrease, falling 11.8% to €98.56.
Four Europe markets achieved RevPAR increases of more than 30%: Stockholm (up 50.8% to €109.45), Frankfurt (up 42.9% to €51.41), Amsterdam (up 34.5% to €106.56) and Tel Aviv (up 30.2% to €196.02).
Barcelona fell 11.2% in RevPAR to €75.45, the region’s largest decrease in that metric.
Source