Article Summary: Europe hotel occupancy rose 1.2% year over year to 79% in July. ADR was mostly flat (+0.1% to €120.92 ($133.81)) and RevPAR rose 1.3% to €95.54 ($105.73).
Europe hotel occupancy rose 1.2% year over year to 79% in July. ADR was mostly flat (+0.1% to €120.92 ($133.81)) and RevPAR rose 1.3% to €95.54 ($105.73).
Primary Category: Monthly Data
LONDON—Europe’s hotel industry reported positive results in the three key performance metrics during July 2019, according to data from STR.
Euro constant currency, July 2019 vs. July 2018
• Occupancy: +1.2% to 79.0%
• Average daily rate (ADR): +0.1% to EUR120.92
• Revenue per available room (RevPAR): +1.3% to EUR95.54
Local currency, July 2019 vs. July 2018
• Occupancy: +4.8% to 75.2%
• ADR: +11.3% to EUR145.59
• RevPAR: +16.6% to EUR109.54
The absolute RevPAR level was the highest for a July in STR’s Milan database. STR analysts point to double-digit RevPAR increases during 4-17 July, which were partially due to the Laura Pausini and Biagio Antonacci concerts at the San Siro Stadium (4-5 July), as well as increases in tourism to the city as several art museums and exhibitions opened during the summer season.
• Occupancy: -0.4% to 88.1%
• ADR: -6.8% to EUR139.73
• RevPAR: -7.2% to EUR123.12
STR analysts attribute the decline in performance to an absence of previous year’s conferences held in July: the Biennial Congress of the European Association for Cancer Research (30 June -3 July 2018) and the International AIDS Conference (23-27 July 2018). Performance levels are also being affected by the continued supply growth in the market.
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Headline: STR: Europe hotel performance for July 2019
Article Date: 8/23/2019
Article Time: 7:44:00 AM