LONDON—The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for 2011, according to data compiled by STR Global.
Year-over-year, 2011 figures for Europe (U.S. dollars, euros and British pounds):
| |
Europe
|
% change
|
|
Occupancy
|
66.3%
|
+3.1%
|
|
ADR (U.S. dollars)
|
$140.05
|
+9.4%
|
|
ADR (euros)
|
€99.86
|
+2.6%
|
|
ADR (British pounds)
|
£87.13
|
+4.9%
|
|
RevPAR (U.S. dollars)
|
$92.80
|
+12.7%
|
|
RevPAR (euros)
|
€66.17
|
+5.8%
|
|
RevPAR (British pounds)
|
£57.73
|
+8.2%
|
Source: STR Global
“2011 was overall a good year for European hoteliers”, said Elizabeth Randall, managing director of STR Global. “Europe saw occupancy and average room rate increases across all months of 2011, with August being the exception. August reported a slight ADR decline (-1 percent), which proved not to be a turning point in performance. Recent months, as well as December’s performance, still showed modest but in line with the usual expected performance increases, compared to the prior year. The outlook for 2012 is less certain, as the economic expectations have weakened throughout the later half and worries about the Euro-zone continue. Our latest Market Forecast, released in November, predicts to see positive RevPAR growth across 21 cities out of 34 European cities which we forecast”.
Highlights from key market performers for 2011 include (year-over-year comparisons, all currency in euros):
• Venice, Italy, reported the only double-digit occupancy increase, rising 13.8 percent to 68.1 percent.
• Malmo, Sweden, fell 7.0 percent in occupancy to 59.0 percent, posting the largest decrease in that metric, followed by Istanbul, Turkey, with a 4.0-percent decrease to 70.1 percent.
• Venice reported the largest growth in ADR, rising 13.1 percent to EUR275.13, followed by Paris, France (+12.5 percent to EUR237.04), and Zurich, Switzerland (+11.7 percent to EUR196.78).
• Cardiff, U.K. (-8.1 percent to EUR64.57) and Birmingham, U.K. (-7.8 percent to EUR62.10) reported the largest ADR decreases for the year.
• Venice jumped 28.6 percent in RevPAR to EUR187.35, achieving the largest increase in that metric, followed by Florence, Italy (+15.0 percent to EUR91.95), and Paris (+14.3 percent to EUR187.20).
• Birmingham reported the largest RevPAR decrease for 2011, falling 7.6 percent to EUR42.36.
Performances of key countries in 2011 (all monetary units in local currency):
| Country |
Occupancy |
% change |
ADR |
% change |
RevPAR |
% change |
| Germany |
65.1% |
+2.7% |
EUR92.04 |
+1.4% |
EUR59.89 |
+4.2% |
| Italy |
59.9% |
+4.2% |
EUR126.32 |
+3.3% |
EUR75.68 |
+7.6% |
| Russia |
57.7% |
+5.0% |
RUB4,896.88 |
+3.8% |
RUB2,827.90 |
+9.0% |
| Spain |
64.9% |
+5.5% |
EUR83.34 |
+0.8% |
EUR54.07 |
+6.3% |
| United Kingdom |
73.8% |
+1.7% |
GBP78.43 |
+3.0% |
GBP57.87 |
+4.7% |
Source: STR Global *percentages are increases/decreases for 2011 vs. 2010
In December 2011 the region increased 2.2 percent in occupancy to 53.9 percent, rose 1.2 percent in ADR to EUR95.76, and was up 3.5 percent in RevPAR to EUR51.63.
View Global Hotel Review for December 2011.
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
