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 March 2012, according to data compiled by STR Global.
Year-over-year, March 2012 figures for Europe (U.S. dollars, euros and British pounds):
|ADR (U.S. dollars)
|ADR (British pounds)
|RevPAR (U.S. dollars)
|RevPAR (British pounds)
Source: STR Global
“After several weak months of moderate rate growth in the European hotel market, March reported a 3.0-percent ADR increase, yet occupancy for the month remained flat”, said Elizabeth Randall, managing director of STR Global. “The recent reprieve in the economic environment across Europe seems to as well apply to the Europe hotel market as we are seeing signs of improvement and subtle growth”.
Highlights from key market performers for March 2012 include (year-over-year comparisons, all currency in euros):
- Reykjavik, Iceland, rose 17.9 percent in occupancy to 66.8 percent, reporting the largest increase in that metric, followed by Tallinn, Estonia (+17.5 percent to 52.1 percent), and Prague, Czech Republic (+12.0 percent to 60.6 percent).
- Vienna, Austria, posted the largest occupancy decrease, falling 8.7 percent to 67.5 percent.
• Two markets experienced double-digit ADR increases: Tel Aviv, Israel (+16.4 percent to EUR183.12), and Paris, France (+13.5 percent to EUR235.22).
- Frankfurt, Germany (-10.7 percent to EUR117.67), and Vilnius, Lithuania (-10.4 percent to EUR50.13), reported the largest ADR decreases for the month.
- Three markets achieved RevPAR increases of more than 15 percent: Tallinn (+28.4 percent to EUR31.54); Prague (+17.1 percent to EUR40.11); and Reykjavik (+16.7 percent to EUR37.99).
- Vienna dropped 17.4 percent in RevPAR to EUR66.53, reporting the largest decrease in that metric.
In the first quarter of 2012, the region reported a 0.8-percent increase in occupancy to 57.5 percent, a 1.7-percent rise in ADR to EUR97.45 and a 2.5-percent increase to EUR56.07.
Performances of key countries in March 2012 (all monetary units in local currency):
*percentages are increases/decreases for March 2012 vs. March 2011
View global hotel review for March.
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