STR Global posts European performance results for October 2009

2009-11-25

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The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for October 2009, according to data compiled by STR Global.

Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison.

'Europe saw the best monthly RevPAR improvement compared to the other three global regions', said Elizabeth Randall, managing director of STR Global. 'European RevPAR only fell 1.6 percent, boosted by a 0.7-percent increase in ADR in U.S. Dollar terms compared to October 2008. This is good news but it needs to be noted that Europe was the first region that saw strong RevPAR declines in the last quarter 2008. Eastern Europe remained one of the harder-hit European sub-regions in October whilst average room rates improved across Southern and Western Europe'.

Year-over-year October 2009 figures for Europe (U.S. dollars, euros and British pounds)

Source: STR Global

Highlights from key market performers for October include (year-over-year results, all currency figures are in euros):

• Tel Aviv, Israel, reported the largest occupancy increase, jumping 33.2 percent to 78.1 percent. Four other markets experienced occupancy increases of more than 5 percent: Cardiff, Wales (+9.3 percent to 79.1 percent); Venice, Italy (+7.1 percent to 69.1 percent); Rome, Italy (+7.0 percent to 77.7 percent); and Düsseldorf, Germany (+6.1 percent to 67.4 percent).

• Lisbon, Portugal, posted the largest occupancy decline, falling 9.3 percent to 68.1 percent, followed by Athens, Greece (-8.7 percent to 73.6 percent), and Budapest, Hungary (-8.6 percent to 63.2 percent).

• Cologne, Germany, experienced the largest ADR increase, rising 23.3 percent to EUR127.69.

• Two markets reported ADR decreases of more than 25 percent: Moscow, Russia (-36.6 percent to EUR156.35), and Prague, Czech Republic (-28.2 percent to EUR79.15).

• Cologne (+26.4 percent to EUR89.15) and Tel Aviv (+20.4 percent to EUR118.42) reported the largest RevPAR increases among the markets.

• Four markets posted RevPAR decreases of more than 25 percent: Moscow (-38.3 percent to EUR106.29); Budapest (-30.7 percent to EUR42.46); Prague (-30.3 percent to EUR51.32); and Athens (-29.8 percent to EUR86.51).

Performances of key countries in October (all monetary units in local currency):

*percentages are increases/decreases for October 2009 vs. September 2008

Global Hotel Review PDF for October 2009.

About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.