LONDON—The European hotel industry posted decreases in year-over-year results when reported in U.S. dollars, euros and British pounds for September 2009, according to data compiled by STR Global.
Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to double-digit gains, depending on the market and the currency used for comparison.
“The hotel performance for the next few months will see a recovery over the bad fourth quarter of 2008, when the worldwide economic downturn accelerated RevPAR declines”, said Elizabeth Randall, managing director of STR Global. “September showed the lowest RevPAR drop since October 2008 as RevPAR declines have stabilised over recent months. Occupancy levels boosted RevPAR as average room rates continued their double-digit decline across Europe’s sub-regions, the exception being Western Europe, which only saw an ADR decrease of 6.5 percent”.
Year-over-year September 2009 figures for Europe (U.S. dollars, euros and British pounds):
|
|
Europe
|
% change
|
|
Occupancy
|
70.5%
|
-4.9%
|
|
ADR (U.S. dollars)
|
$142.17
|
-12.4%
|
|
ADR (euros)
|
€97.44
|
-13.3%
|
|
ADR (British pounds)
|
£89.31
|
0.0%
|
|
RevPAR (U.S. dollars)
|
$100.17
|
-16.7%
|
|
RevPAR (euros)
|
€68.66
|
-17.5%
|
|
RevPAR (British pounds)
|
£62.93
|
-4.9%
|
Source: STR Global
Highlights from key market performers for September include (year-over-year results, all currency figures are in euros):
• Venice, Italy, reported the largest occupancy increase, up 5.5 percent to 73.2 percent, followed by London, England (+3.8 percent to 84.4 percent), and Salzburg, Austria (+2.8 percent to 73.7 percent).
• Tel Aviv, Israel, experienced the largest occupancy decline, falling 20.3 percent to 62.0 percent, followed by Antwerp, Belgium (-12.9 percent to 65.4 percent), Budapest, Hungary (-12.6 percent to 67.9 percent), and Prague, Czech Republic (-12.5 percent to 66.6 percent).
• Two markets posted ADR increases: Vienna, Austria (+6.2 percent to EUR125.07), and Geneva, Switzerland (+1.7 percent to EUR208.86).
• Four markets experienced ADR declines of more than 25 percent: Moscow, Russia (-41.0 percent to EUR141.78); Prague (-29.4 percent to EUR79.57); Manchester, England (-28.3 percent to EUR73.86); and Cologne, Germany (-25.1 percent to EUR91.73).
• Two markets came in virtually flat in RevPAR: Geneva dropped 0.1 percent to EUR138.95 and Vienna fell 0.2 percent to EUR97.55.
• Moscow experienced the largest RevPAR decrease, falling 42.9 percent to EUR101.55, followed by Prague with a 38.2-percent decline to EUR52.99.
Performances of key countries in September (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Germany
|
72.0%
|
-4.2%
|
EUR89.26
|
-7.9%
|
EUR64.31
|
-11.7%
|
|
Italy
|
67.7%
|
-3.2%
|
EUR130.18
|
-13.9%
|
EUR88.15
|
-16.6%
|
|
Russia
|
62.7%
|
-8.2%
|
RUB5579.33
|
-24.9%
|
RUB3496.37
|
-31.0%
|
|
Spain
|
65.8%
|
-6.6%
|
EUR81.29
|
-11.5%
|
EUR53.46
|
-17.3%
|
|
United Kingdom
|
75.5%
|
-1.2%
|
GBP80.52
|
-5.1%
|
GBP60.78
|
-6.2%
|
*percentages are increases/decreases for September 2009 vs. September 2008
View Global Hotel Review for September 2009.
About STR & STR Global:
For more than 20 years, Smith Travel Research, Inc. (STR) has been the recognized leader for hotel industry benchmarking and research. STR and STR Global offer monthly, weekly and daily STAR benchmarking reports to more than 38,000 hotel clients, representing over 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit www.strglobal.com or www.HotelNewsNow.com.
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KAuernheimer@strglobal.com
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