LONDON—The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for November 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.
Year-over-year November 2009 figures for Europe (U.S. dollars, euros and British pounds):
|
|
Europe
|
% change
|
|
Occupancy
|
61.2%
|
-1.9%
|
|
ADR (U.S. dollars)
|
$137.74
|
+8.5%
|
|
ADR (euros)
|
€91.91
|
-8.1%
|
|
ADR (British pounds)
|
£83.45
|
-1.9%
|
|
RevPAR (U.S. dollars)
|
$84.30
|
+6.4%
|
|
RevPAR (euros)
|
€56.26
|
-9.9%
|
|
RevPAR (British pounds)
|
£51.08
|
-0.9%
|
Source: STR Global
“The November results continued the trend of improved performances in most markets, even if this is mainly due to the weak comparables to 4th quarter 2008”, according to Elizabeth Randall, Managing Director of STR Global. “Whilst occupancies continued to fall across Europe in year-over-year comparisons, Eastern Europe remained the only European sub region with ADR declines in U.S. dollar terms reporting the lowest ADR of $116.63 (-8.9 percent) for November 2009. The sluggish performance followed the continued concerns over the economic recovery in Eastern Europe.
"With 11 months gone, Europe saw RevPAR decline 22.8 percent to US$81.64. Hotels in Western Europe held the top spot in RevPAR at US$89.60 and only an 18.4-percent decline compared to year-to-date November 2008. Looking ahead to 2010 we would currently expect a continued improvement in percentage change terms, however, actual performance will lack behind prior years”.
Performances of key countries in November (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Germany
|
62.9%
|
-1.8%
|
EUR81.14
|
-3.5%
|
EUR51.01
|
-5.2%
|
|
Italy
|
52.3%
|
-2.5%
|
EUR105.17
|
-9.3%
|
EUR54.98
|
-11.6%
|
|
Russia
|
50.0%
|
-0.1%
|
RUB5327.14
|
-20.4%
|
RUB2663.03
|
-20.5%
|
|
Spain
|
55.6%
|
-1.4%
|
EUR77.24
|
-10.0%
|
EUR42.94
|
-11.3%
|
|
United Kingdom
|
70.0%
|
+0.5%
|
GBP82.73
|
-0.6%
|
GBP57.91
|
-0.1%
|
*percentages are increases/decreases for November 2009 vs. November 2008
View Global Hotel Review for November 2009.
About STR Global:
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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