Last year, 2019, was a year of political suspense in Europe, continued break-neck development in the Middle East and persistent hesitation in Africa. The biggest news items of the last six months were probably Boris Johnson's landslide victory and him getting Brexit done (Phase 1 anyway), and the hushed birth of a new coronavirus.
Business on the books has dropped roughly 25% in select Barcelona hotels since the announced cancellation of the Mobile World Congress, according to preliminary data from Forward STAR, STR's future demand benchmarking solution.
STR's hotel pipeline data for Europe showed 1,654 projects accounting for 210,075 rooms in construction as of the end of January 2020. This represented a 29.4% year-over-year increase in the number of rooms in the final phase of the development pipeline.
STR's preliminary January 2020 data for hotels in London indicates lower occupancy but higher rates.Based on daily data from the month, London reported the following in year-over-year comparisons:
Performance results were mixed but mostly steady across the hostel markets in Amsterdam, Berlin, Edinburgh and London, according to 2019 data from STR.
Berlin's hotel industry reached its highest levels in occupancy and revenue per available room (RevPAR) despite the uncertainty around an economic recession, according to 2019 data from STR.Thanks to healthy demand growth and a lack of significant supply increases, occupancy rose 1.
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
Hotels in London saw RevPAR growth of 0.9% in Q4 2019, to £135.25, compared with the previous year, according to the latest UK Hotel Market Tracker: Q4 2019, produced by HVS London, AlixPartners and STR.
European hoteliers hope December's sublime performance will carry into and throughout 2020. The year ended on a strong note, represented by a fourth consecutive month of year-over-year profit growth on a per available room basis.
2019 ended on a sour note for UK hotels. According to HotStats data, December marked the third consecutive month of year-over-year profit per available room decrease, as GOPPAR was down 0.9%. In sum, there were nine months in 2019 that saw YOY GOPPAR contraction.