STR: Europe hotel performance for Q1 2018

STR

STR: Europe hotel performance for Q1 2018

STR: Europe hotel performance for Q1 2018

Key Q1 takeaways:

  • Ireland performance growth continues across the country
  • Russia registers strong demand and overall performance
  • Turkey recovery continues with best first quarter on record

STR’s sample comprises more than 59,000 hotels and 8.0 million hotel rooms around the globe. Contact media@str.com for additional market data.

Europe’s hotel industry reported increases across the three key performance metrics during Q1 2018, according to data from STR.

Euro constant currency, Q1 2018 vs. Q1 2017

Europe

  • Occupancy: +2.2 percent to 64.5 percent
  • Average daily rate (ADR): +2.6 percent to EUR100.61
  • Revenue per available room (RevPAR): +4.8 percent to EUR64.89

Local currency, Q1 2018 vs. Q1 2017

Ireland

  • Occupancy: +3.4 percent to 67.6 percent
  • ADR: +6.2 percent to EUR113.67
  • RevPAR: +9.7 percent to EUR76.79

The absolute levels in the key performance metrics were each the highest for a Q1 in STR’s Ireland database. STR analysts note that performance is strong across the country, not just in the always popular Dublin, where RevPAR increased 7.8 percent. Continuing to help Ireland’s performance is a lack of meaningful supply growth. 

Russia

  • Occupancy: +6.1 percent to 53.5 percent
  • ADR: +0.6 percent to RUB4,942.27
  • RevPAR: +6.7 percent to RUB2,645.49

While supply growth remained steady in the country, demand grew at a high rate (+7.9 percent) for the second consecutive Q1 in Russia.  

Turkey

  • Occupancy: +24.0 percent to 63.7 percent
  • ADR: +27.9 percent to TRY282.55
  • RevPAR: +58.5 percent to TRY180.06

STR analysts note that performance recovery continues to strengthen in Turkey thanks to continued improvement of traveler perception regarding safety in the country. In fact, the absolute levels for each of the three key performance metrics were the highest for any Q1 in STR’s Turkey database. Istanbul played a key role in the country’s overall performance with significant increases across the three key metrics: occupancy (+35.2 percent), ADR (+30.9 percent) and RevPAR (+77.0 percent).

Source = STR
Pin It

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>