Europe hotels reported a 5.1% occupancy increase to 57.1%, ADR rose 2.4% to €99.25 ($105.01) and RevPAR jumped 7.6% to €56.66 ($59.93) in year-over-year performance results for January 2017.
LONDON—Hotels in Europe reported growth across the three key performance metrics in January 2017, according to data from STR.
Euro constant currency, year-over-year comparisons:
- Occupancy: +5.1% to 57.1%
- Average daily rate (ADR): +2.4% to EUR99.25
- Revenue per available room (RevPAR): +7.6% to EUR56.66
Local currency, year-over-year comparisons:
- Occupancy: +9.2% to 55.8%
- ADR: +3.1% to EUR120.43
- RevPAR: +12.5% to EUR67.15
France’s January performance showed a bounce back from a weak January 2016 that was marred by security concerns in the country. The submarkets of Paris City Center (+29.7%), Charles de Gaulle Airport (+11.7%), Lyon (+44.6%) and Toulouse (+12.1%) all posted double-digit RevPAR growth for the month. STR analysts note that the country’s hotel performance should grow more stable as it becomes further removed from the terrorist attacks of the last several years.
- Occupancy: +11.6% to 51.3%
- ADR: +0.1% to EUR104.57
- RevPAR: +11.7% to EUR53.67
Italy has experienced relatively flat supply from as far back as 2011, so any upswing in demand typically results in occupancy growth. January’s RevPAR growth was the highest year-over-year increase the country has seen in the metric since Milan hosted the 2015 Expo. Performance in January was driven by RevPAR growth in Milan (+19.5%), Rome (+8.1%), Florence (+14.3%) and Turin (+10.0%).
- Occupancy: +17.9% to 46.1%
- ADR: +8.5% to EUR80.71
- RevPAR: +27.8% to EUR37.23
This marked the first time since 2008 that Portugal’s occupancy level exceeded 40.0% for the month of January. The country’s ADR also was the highest for the month since 1997. According to STR analysts, Portugal and other markets in Southern Europe, seen as safer destinations, have benefitted from a shift in demand from Northern Africa and other European markets. At the market level, Lisbon recorded a RevPAR increase of 27.8% to EUR51.08.
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