- Milan hotels reach record RevPAR level
- Amsterdam affected by comparison with heavy events month in 2018
Europe’s hotel industry reported positive results in the three key performance metrics during July 2019, according to data from STR.
Euro constant currency, July 2019 vs. July 2018
• Occupancy: +1.2% to 79.0%
• Average daily rate (ADR): +0.1% to EUR120.92
• Revenue per available room (RevPAR): +1.3% to EUR95.54
Local currency, July 2019 vs. July 2018
• Occupancy: +4.8% to 75.2%
• ADR: +11.3% to EUR145.59
• RevPAR: +16.6% to EUR109.54
The absolute RevPAR level was the highest for a July in STR’s Milan database. STR analysts point to double-digit RevPAR increases during 4-17 July, which were partially due to the Laura Pausini and Biagio Antonacci concerts at the San Siro Stadium (4-5 July), as well as increases in tourism to the city as several art museums and exhibitions opened during the summer season.
• Occupancy: -0.4% to 88.1%
• ADR: -6.8% to EUR139.73
• RevPAR: -7.2% to EUR123.12
STR analysts attribute the decline in performance to an absence of previous year’s conferences held in July: the Biennial Congress of the European Association for Cancer Research (30 June -3 July 2018) and the International AIDS Conference (23-27 July 2018). Performance levels are also being affected by the continued supply growth in the market.
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