European hotel occupancy rose 1.7% to 71.8% in November, and a 4% ADR increase to €105.84 ($120.85) drove RevPAR up 5.8% to €75.99 ($86.77).
LONDON—Europe’s hotel industry reported positive results in the three key performance metrics during November 2018, according to data from STR.
Euro constant currency, November 2018 vs. November 2017
• Occupancy: +1.7% to 71.8%
• Average daily rate (ADR): +4.0% to EUR105.84
• Revenue per available room (RevPAR): +5.8% to EUR75.99
Local currency, November 2018 vs. November 2017
• Occupancy: +4.2% to 69.0%
• ADR: +47.0% to TRY468.34
• RevPAR: +53.2% to TRY323.24
The absolute ADR level was the highest for any November in STR’s Istanbul database. STR analysts attribute the jump in the metric to Turkey’s currency crisis of the last few months—October produced the country’s highest inflation rate in 15 years. Demand (room nights sold) has also helped push performance, and Turkey is expected to reach almost 39 million visitors by the end of 2018, according to the World Travel & Tourism Council.
- Occupancy: +12.8% to 82.9%
- ADR: +12.1% to EUR101.07
- RevPAR: +26.4% to EUR83.78
The occupancy level was the highest for any November on record in Vienna. STR analysts note that performance was helped by a host of November events: European Utility Week 2018 (6-8 November), Energy Austria (5-6 November), the 4th European Congress on Endometriosis, and the European Congress for Homeopathy (22-24 November).
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at firstname.lastname@example.org.