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STR Global: Europe results for June
July 23 2012

Year-to-date 2012, the region’s occupancy was virtually flat with a 0.1% increase to 63.7%; its ADR, was up 3.9% to €103.03; and its RevPAR increased 4.1% to €65.64.

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

Year-to-date 2012, the region’s occupancy was virtually flat with a 0.1-percent increase to 63.7 percent, its average daily rate, in euro terms, was up 3.9 percent to EUR103.03, and its revenue per available room increased 4.1 percent to EUR65.64.

“ADR across Europe, in euro terms, continued to grow during June, showing robustness compared to the flatter occupancy performances recently”, said Elizabeth Randall, managing director of STR Global. “When comparing the first six months of 2012 to the first half in 2008, there is still ground to be made up. Revenue per available room is still EUR3.61 behind its 2008 first-half performance (EUR69.29). Europe overall saw only a limited increase in room supply, a 1.1-percent compound annual growth rate (CAGR), compared to 0.9% CAGR of demand increase over the last four years”.

Highlights from key market performers for June 2012 include (year-over-year comparisons, all currency in euros):

  • Frankfurt, Germany, rose 13.3 percent in occupancy to 73.5 percent, posting the largest increase in that metric, followed by Istanbul, Turkey (+12.5 percent to 84.6 percent), and Reykjavik, Iceland (+12.1 percent to 90.5 percent).
  • Athens, Greece, fell 19.2 percent in occupancy to 65.6 percent, reporting the largest occupancy decrease.
  • Warsaw, Poland, grew 97.4 percent in ADR to EUR158.82, reporting the largest increase in that metric, followed by Frankfurt with a 28.6-percent increase to EUR127.58.
  • Milan, Italy (-8.4 percent to EUR123.99), and Zurich, Switzerland (-8.0 percent to EUR197.58), ended the month with the largest ADR decreases.
  • Four markets achieved RevPAR increases of more than 25 percent: Warsaw (+98.1 percent to EUR124.34); Frankfurt (+45.8 percent to EUR93.80); Reykjavik (+33.3 percent to EUR113.07); and Istanbul (+28.6 percent to EUR166.68).
  • Athens fell 21.2 percent in RevPAR to EUR75.61, posting the largest decrease in that metric, followed by Milan with a 14.5-percent decrease to EUR78.91.

View the Global Hotel Review for June.

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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