In Europe, hotel occupancy increased 2.4% to 77.4% in October. ADR rose 6% to €116.15 ($132.57) and RevPAR increased 8.6% to €89.89 ($102.60).
LONDON—Europe’s hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR.
Euro constant currency, October 2018 vs. October 2017
• Occupancy: +2.4% to 77.4%
• Average daily rate (ADR): +6.0% to EUR116.15
• Revenue per available room (RevPAR): +8.6% to EUR89.89
Local currency, October 2018 vs. October 2017
• Occupancy: +5.6% to 85.7%
• ADR: +17.9% to EUR138.88
• RevPAR: +24.5% to EUR119.07
The absolute RevPAR level was the highest for any month in STR’s Madrid database. STR analysts attribute a 7.4% jump in demand (room nights sold) to the CPhI Worldwide pharmaceutical conference (9-11 October) as well as the overall health of the market.
• Occupancy: -1.4% to 84.9%
• ADR: +3.2% to EUR158.87
• RevPAR: +1.8% to EUR134.96
STR analysts attribute the strong performance to multiple events held in October: Helitech International (16-18 October), the Offshore Energy Exhibition & Conference (22-24 October) and the Amsterdam Dance Event (17-21 October).
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