STR Global posts year-end '09, Dec. '09 results for Europe

STR Global posts year-end '09, Dec. '09 results for Europe

The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for year-end 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.

Highlights from key market performers for year-end 2009 include (year-over-year comparisons, all currency in euros):

• London, England, reported a 1.0-percent increase in occupancy to 80.5 percent, followed by Edinburgh, Scotland (+0.7 percent to 75.3 percent), and Glasgow, Scotland (+0.1 percent to 74.5 percent).
• Tel Aviv, Israel (-15.2 percent to 64.4 percent), and Budapest, Hungary (-15.1 percent to 53.2 percent), ended the year with the largest occupancy decreases.
• Tel Aviv was the only market to end the year with an increase in ADR, which was up 4.6 percent to EUR155.97.
• Moscow, Russia, posted the largest ADR decrease, falling 34.2 percent to EUR145.72, followed by Athens, Greece (-23.7 percent to EUR107.84), and Prague (-20.5 percent to EUR76.03).
• None of the key markets in the region reported an increase in RevPAR for the year.
• Moscow experienced the largest RevPAR decrease, dropping 40.3 percent to EUR85.05.

December 2009

Overall for December, the region’s occupancy increased 3.1 percent to 52.6 percent, ADR dropped 0.9 percent to EUR90.69, and RevPAR increased 2.2 percent to EUR47.73, in year-over-year comparisons and when measured in euros.

“Occupancy levels grew again across Europe for the month of December”, said Elizabeth Randall, managing director of STR Global. “The end of the year also brought with it a 3.9-percent RevPAR increase in year-over-year comparisons (in U.S. dollar terms).

“The year as a whole remained challenging, however”, Randall continued. “Europe ended with a 21.2-percent RevPAR decrease driven by a 16.0-percent ADR decline and occupancy dropping down to 61.1 percent. Markets in Eastern and Southern Europe were affected more than their counterparts in Western and Northern Europe, with a few exceptions, such as Dublin, Ireland, and Amsterdam, Netherlands, which suffered RevPAR declines of more than 20 percent.

“Looking ahead, we expect to see this year-end recovery in Europe to continue during the next few months”.

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 Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.

STR Global Global hotel review for December 2009 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, M... Adobe PDF Document (Download Acrobat Reader) File Size: 154 Kb - Wednesday, 27 January 2010