Europe region performance results for October 2009 | STR Global

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

“Europe saw the best monthly RevPAR improvement compared to the other three global regions”, said Elizabeth Randall, managing director of STR Global. “European RevPAR only fell 1.6 percent, boosted by a 0.7-percent increase in ADR in U.S. Dollar terms compared to October 2008. This is good news but it needs to be noted that Europe was the first region that saw strong RevPAR declines in the last quarter 2008. Eastern Europe remained one of the harder-hit European sub-regions in October whilst average room rates improved across Southern and Western Europe”.

Highlights from key market performers for October include (year-over-year results, all currency figures are in euros):

• Tel Aviv, Israel, reported the largest occupancy increase, jumping 33.2 percent to 78.1 percent. Four other markets experienced occupancy increases of more than 5 percent: Cardiff, Wales (+9.3 percent to 79.1 percent); Venice, Italy (+7.1 percent to 69.1 percent); Rome, Italy (+7.0 percent to 77.7 percent); and Düsseldorf, Germany (+6.1 percent to 67.4 percent).
• Lisbon, Portugal, posted the largest occupancy decline, falling 9.3 percent to 68.1 percent, followed by Athens, Greece (-8.7 percent to 73.6 percent), and Budapest, Hungary (-8.6 percent to 63.2 percent).
• Cologne, Germany, experienced the largest ADR increase, rising 23.3 percent to EUR127.69.
• Two markets reported ADR decreases of more than 25 percent: Moscow, Russia (-36.6 percent to EUR156.35), and Prague, Czech Republic (-28.2 percent to EUR79.15).
• Cologne (+26.4 percent to EUR89.15) and Tel Aviv (+20.4 percent to EUR118.42) reported the largest RevPAR increases among the markets.
• Four markets posted RevPAR decreases of more than 25 percent: Moscow (-38.3 percent to EUR106.29); Budapest (-30.7 percent to EUR42.46); Prague (-30.3 percent to EUR51.32); and Athens (-29.8 percent to EUR86.51).

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