STR Global posts November 2009 results for Europe
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.
Year-over-year November 2009 figures for Europe (U.S. dollars, euros and British pounds):
Source: STR Global
'The November results continued the trend of improved performances in most markets, even if this is mainly due to the weak comparables to 4th quarter 2008', according to Elizabeth Randall, managing director of STR Global. 'Whilst occupancies continued to fall across Europe in year-over-year comparisons, Eastern Europe remained the only European sub region with ADR declines in U.S. dollar terms reporting the lowest ADR of $116.63 (-8.9 percent) for November 2009. The sluggish performance followed the continued concerns over the economic recovery in Eastern Europe. With 11 months gone, Europe saw RevPAR decline 22.8 percent to US$81.64. Hotels in Western Europe held the top spot in RevPAR at US$89.60 and only an 18.4-percent decline compared to year-to-date November 2008. Looking ahead to 2010 we would currently expect a continued improvement in percentage change terms, however, actual performance will lack behind prior years'.
Performances of key countries in November (all monetary units in local currency):
*percentages are increases/decreases for November 2009 vs. November 2008
Global Hotel Review PDF for November 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.
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