STR: Europe hotel performance for August 2017

STR Hotels

STR Hotels

STR: Europe hotel performance for August 2017

Europe’s hotel industry reported positive results in the three key performance metrics during August 2017, according to data from STR.

Euro constant currency, August 2017 vs. August 2016

Europe
Occupancy: +2.5 percent to 77.4 percent
Average daily rate (ADR): +5.0 percent to EUR116.66
Revenue per available room (RevPAR): +7.6 percent to EUR90.26
Local currency, August 2017 vs. August 2016

Belgium
Occupancy: +16.1 percent to 65.5 percent
ADR: +1.5 percent to EUR81.48
RevPAR: +17.8 percent to EUR53.35
Belgium’s performance has risen steadily since late 2016 as the country continues to recover from the March 2016 terror attacks in Brussels. Demand (rooms sold) increased 15.5 percent during August, while supply (rooms available) declined 0.5 percent year over year. Brussels posted a 26.8 percent increase in occupancy to 59.6 percent, while ADR was up 0.8 percent to EUR78.80.

Hungary
Occupancy: -0.7 percent to 86.5 percent
ADR: +22.2 percent to HUF25,874.17
RevPAR: +21.4 percent to HUF22,374.13
STR analysts note that Hungary has become a popular tourist destination in recent years, and the country’s ADR has been growing considerably since April. Although occupancy declined slightly year over year as a result of supply growth (+0.6 percent) and flat demand (+0.0 percent), the country’s actual occupancy level remained high. At the market level, Budapest reported a 1.1 percent decline in occupancy but a 23.1 percent increase in ADR for the month.

Italy
Occupancy: +2.2 percent to 66.9 percent
ADR: +4.6 percent to EUR169.39
RevPAR: +7.0 percent to EUR113.32
Italy’s performance growth in August was mainly driven by the Luxury class, which reported a 9.5 percent RevPAR uplift for the month. Rome was the only market to report a decline in RevPAR (-11.6 percent) for the month, with ADR down 10.1 percent. STR analysts believe this was likely because the market hosted the European Society of Cardiology congress last August, but the event was held in Barcelona this year.

Source = STR
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