LONDON—The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for August 2011, according to data compiled by STR Global.
Year-over-year, August 2011 figures for Europe (U.S. dollars, euros and British pounds):
Source: STR Global
“Demand continued to grow across Europe for August and, coupled with limited supply increases, that bodes well for European hoteliers”, said Elizabeth Randall, managing director of STR Global. “Whilst we saw the first monthly average rate decline for this year in August, it can mainly be attributed to exchange rate effects. Looking at the region in constant currency, Europe still reported a year-on-year 0.6-percent increase.”
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Highlights from key market performers for August 2011 include (year-over-year comparisons, all currency in euros):
• Madrid, Spain, jumped 27.8 percent in occupancy to 56.4 percent, reporting the largest increase in that metric, followed by Milan, Italy (15.8 percent to 42.6 percent) and Florence, Italy (+12.2 percent to 66.1 percent.
• Istanbul, Turkey, fell 20.7 percent in occupancy to 53.9 percent, reporting the largest decrease in that metric, followed by Zurich, Switzerland (-11.3 percent to 66.2 percent).
• Paris, France, achieved the largest ADR increase, rising 19.7 percent to EUR217.60, followed by Florence with a 15.2-percent increase to EUR141.39.
• Birmingham, United Kingdom, ended the month with the only double-digit ADR decrease, falling 12.4 percent to EUR49.60.
• Three markets experienced RevPAR increases of more than 20 percent: Madrid (+39.8 percent to EUR41.46); Florence (+29.2 percent to EUR93.42); and Paris (+21.3 percent to EUR153.72).
• Three markets reported double-digit RevPAR decreases: Istanbul (-17.9 percent to EUR75.14); Stockholm, Sweden (-14.5 percent to EUR93.63); and Geneva, Switzerland (-13.5 percent to EUR108.60).
Performances of key countries in August (all monetary units in local currency):
*percentages are increases/decreases for August 2011 vs. August 2010
View Global Hotel Review for August.
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
