The Europe hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for November 2012, according to data compiled by STR Global.
“Europe’s occupancy stagnated over recent months”, said Elizabeth Randall Winkle, managing director of STR Global. “November 2012 is no exception, as hotels reported 65.4 percent occupancy, the same as November 2011. Average daily rates (ADR) continued to rise, reporting year-on-year increases throughout all months thus far in 2012. Looking at year to November (YTD), 2012 saw the highest ADR increase (4.9 percent) of the last five years. Splitting down the YTD performance by segments, hotels in the economy and midscale combined segments had a more difficult time this year with declining demand (-1.3 percent), which pushed down occupancy by 2 percent to 68.1 percent. This segment was the only one with demand decreases, but it still achieved the highest actual occupancy”.
Highlights from key market performers for November 2012 include (year-over-year comparisons, all currency in euros):
- Reykjavik, Iceland, reported the largest occupancy increase, rising 28.8 percent to 60.8 percent, followed by Istanbul, Turkey, with a 14.3-percent increase to 73.7 percent.
- Tel Aviv, Israel, posted the only double-digit occupancy decrease, falling 18.9 percent to 64.9 percent.
- Three markets experienced double-digit ADR increases: Edinburgh, United Kingdom (+12.0 percent to EUR86.82); Frankfurt, Germany (+10.8 percent to EUR113.65); and Reykjavik (+10.1 percent to EUR68.36).
- Athens, Greece, fell 9.3 percent in ADR to EUR87.38, ending the month with the largest decrease in that metric.
- Reykjavik jumped 41.8 percent in RevPAR to EUR41.59, achieving the largest increase in that metric, followed by Dublin, U.K. (+16.2 percent to EUR61.76), and Istanbul (+15.0 percent to EUR104.21).
- Tel Aviv posted the only double-digit RevPAR decrease, falling 18.0 percent to EUR111.86.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.