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Europe hotel results for February
March 22 2012

In year-over-year measurements, Europe's occupancy decreased 0.4% to 58%; its ADR went down 1.9% to $129.32; and its RevPAR fell 2.3% to $74.95.

LONDON—The European hotel industry posted mostly positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for February 2012, according to data compiled by STR Global.

Year-over-year, February 2012 figures for Europe (U.S. dollars, euros and British pounds):

  Europe % change
Occupancy 58.0% -0.4%
ADR (U.S. dollars) $129.32 -1.9%
ADR (euros) €96.30 +0.4%
ADR (British pounds) £81.60 -0.3%
RevPAR (U.S. dollars) $74.95 -2.3%
RevPAR (euros) €55.81 0.0%
RevPAR (British pounds) £47.29 -0.7%


Source: STR Global

 

“Europe reported a flat performance on a like-for-like basis compared to February 2011”, said Elizabeth Randall, managing director of STR Global. “Out of 27 countries we track across Europe, the majority of 15 countries still reported RevPAR increases in local currency for the month”.

Highlights from key market performers for February 2012 include (year-over-year comparisons, all currency in euros):
• Reykjavik, Iceland, jumped 30.1 percent in occupancy to 60.3 percent, reporting the largest occupancy increase, followed by Prague, Czech Republic, with a 19.9-percent increase to 44.9 percent.
• Athens, Greece, posted the only double-digit occupancy decrease, falling 17.2 percent to 46.6 percent.
• Tallinn, Estonia, rose 11.4 percent in ADR to EUR60.51, achieving the largest increase in that metric.
• Reykjavik (-15.2 percent to EUR54.57) and Istanbul, Turkey (-10.2 percent to EUR113.06), ended the month with the largest ADR decreases.
• Five markets experienced RevPAR increases of more than 10 percent: Prague (+18.5 percent to EUR29.60); Warsaw, Poland (+13.9 percent to EUR46.67); Tel Aviv, Israel (+13.4 percent to EUR113.33); Moscow, Russia (+12.0 percent to EUR105.53); and Reykjavik (+10.4 percent to EUR32.91).
• Athens fell 21.3 percent in RevPAR to EUR42.01, posting the largest decrease in that metric.

Performances of key countries in February 2012 (all monetary units in local currency):

Country Occupancy % change ADR % change RevPAR % change
Germany 59.5% +1.9% EUR93.38 -1.2% EUR55.55 +0.7%
Italy 46.8% -6.2% EUR105.51 +1.0% EUR49.41 -5.3%
Russia 54.4% +9.8% RUB5,261.32 +3.9% RUB2,862.97 +14.2%
Spain 58.0% -1.5% EUR82.62 -0.6% EUR47.93 -2.0%
United Kingdom 67.3% -1.7% GBP75.11 +1.4% GBP50.53 -0.4%

*percentages are increases/decreases for February 2012 vs. February 2011

 

View Global hotel review for February.

Media contacts:

Konstanze Auernheimer
Director of Marketing & Analysis
STR Global 

KAuernheimer@strglobal.com
+44 (0)207 922 1961

Jeff Higley
VP, Digital Media & Communications

jeff@str.com
+1 (615) 824-8664 ext. 3318

Rachael Spann Urie
Director, Public Relations

rurie@str.com
+1 (615) 824-8664 ext. 3305

 

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