LONDON—The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for March 2011, according to data compiled by STR Global.
Year-over-year, March 2011 figures for Europe (U.S. dollars, euros and British pounds):
| |
Europe
|
% change
|
|
Occupancy
|
62.5%
|
+3.7%
|
|
ADR (U.S. dollars)
|
$140.62
|
+10.9%
|
|
ADR (euros)
|
€99.75
|
+5.8%
|
|
ADR (British pounds)
|
£87.72
|
+4.2%
|
|
RevPAR (U.S. dollars)
|
$87.90
|
+15.0%
|
|
RevPAR (euros)
|
€62.35
|
+9.7%
|
|
RevPAR (British pounds)
|
£54.83
|
+8.1%
|
Source: STR Global
In first quarter 2011, Europe reported increases in all three key performance metrics. The region’s occupancy rose 3.0 percent to 56.4 percent, its ADR was up 5.7 percent to EUR98.30, and its RevPAR increased 8.9 percent to EUR55.44.
“The Europe hotel industry reported solid performance during the first quarter of 2010, continuing its steady growth with gains in occupancy and average room rate”, said Elizabeth Randall, managing director at STR Global. “All European subregions achieved occupancy and rate growth for the month and the quarter”.
Highlights from key market performers for March 2011 include (year-over-year comparisons, all currency in euros):
• Venice, Italy, achieved the largest occupancy increase, rising 32.5 percent to 65.7 percent, followed by Oslo, Norway, with a 22.0-percent increase to 68.3 percent.
• Two markets reported occupancy decreases of more than 5 percent: Malmo, Sweden (-9.4 percent to 55.7 percent), and Salzburg, Austria (-6.2 percent to 55.9 percent).
• Four markets experienced ADR increases of more than 20 percent: Cologne, Germany (+26.2 percent to EUR119.65); Istanbul, Turkey (+24.4 percent to EUR150.33); Vienna, Austria (+24.4 percent to EUR109.33); and Zurich, Switzerland (+21.6 percent to EUR211.94).
• Tel Aviv, Israel, fell 6.0 percent in ADR to EUR160.80, reporting the largest decrease in that metric.
• Six markets achieved RevPAR increases of more than 30 percent: Venice (+54.7 percent EUR136.74); Cologne (+44.9 percent to EUR86.98); Oslo (+33.8 percent to EUR87.18); Vienna (+33.2 percent to EUR81.24); Gothenburg, Sweden (+32.3 percent to EUR71.90); and Istanbul (+31.0 percent to EUR108.43).
• Salzburg fell 9.7 percent in RevPAR to EUR40.73, reporting the largest decrease in that metric.
Performances of key countries in March (all monetary units in local currency):
|
Country
|
Occupancy
|
% change
|
ADR
|
% change
|
RevPAR
|
% change
|
|
Germany
|
63.0%
|
+3.3%
|
EUR94.56
|
+5.6%
|
EUR59.59
|
+9.1%
|
|
Italy
|
57.3%
|
+3.2%
|
EUR111.71
|
+3.1%
|
EUR64.03
|
+6.4%
|
|
Russia
|
50.4%
|
+7.7%
|
RUB5455.44
|
+3.7%
|
RUB2748.68
|
+11.7%
|
|
Spain
|
62.8%
|
+8.5%
|
EUR78.29
|
+1.9%
|
EUR49.17
|
+10.6%
|
|
United Kingdom
|
68.2%
|
+0.3%
|
GBP81.63
|
+4.7%
|
GBP55.70
|
+5.0%
|
*percentages are increases/decreases for March 2011 vs. March 2010
View Global Hotel Review for March.
Media contacts:
Konstanze Auernheimer
Director of Marketing & Analysis
STR Global
KAuernheimer@strglobal.com
+44 (0)207 922 1961
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
