LONDON—The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for July 2011, according to data compiled by STR Global.
Year-over-year, June 2011 figures for Europe (U.S. dollars, euros and British pounds):
Source: STR Global
“European hotels continued to improve on last year with increased demand driving occupancy and ADR growth. The gains provided a welcomed contrast to more subdued economic news that made headlines recently”, said Elizabeth Randall, managing director of STR Global. “However, the slower GDP growth rates in selected key European markets make the outlook for the region a bit more challenging than it was a few months ago”.
Highlights from key market performers for July 2011 include (year-over-year comparisons, all currency in euros):
• Venice, Italy, rose 13.1 percent in occupancy to 85.7 percent, which was the largest increase in that metric. Venice was followed by Florence, Italy (+12.2 percent to 83.9 percent), and Manchester, United Kingdom (+12.1 percent to 82.0 percent).
• Malmo, Sweden, posted the largest occupancy decrease, falling 9.7 percent to 65.0 percent, followed by Vienna, Austria, with a 7.9-percent decrease to 76.0 percent.
• Three markets experienced ADR increases of more than 15 percent: Zurich, Switzerland (+20.6 percent to EUR207.93); Amsterdam, Netherlands (+20.0 percent to EUR134.61); and Stockholm, Sweden (+19.9 percent to EUR106.35).
• Cardiff, U.K., dropped 15.0 percent in ADR to EUR60.55, reporting the largest decrease in that metric, followed by Vienna with a 12.6-percent decrease to EUR85.22.
• Venice achieved the largest RevPAR increase, rising 28.1 percent to EUR242.18, followed by Dublin, Ireland (+19.9 percent to EUR67.09), and Florence (+19.4 percent to EUR130.52).
• Two markets posted double-digit RevPAR decreases: Vienna (-19.4 percent to EUR64.78) and Cardiff (-11.5 percent to EUR46.68).
Performances of key countries in July (all monetary units in local currency):
View Global hotel review for July 2011.
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