STR Global posts March 2009 results for Europe
|ADR (U.S. dollars)||$124.00||-23.9%|
|ADR (British pounds)||£87.27||+6.6%|
|RevPAR (U.S. dollars)||$72.64||-28.1%|
|RevPAR (British pounds)||£51.12||+0.6%|
“The annual Easter mismatch has had a positive effect on European performance but has only extended to a very limited number of markets,” said James Chappell, managing director of STR Global. “Europe as a whole fell 14 percent in RevPAR, up from the 19 percent drop in February, with southern Europe again bearing the brunt of the hit and dropping by over 20 percent in RevPAR.
“Outside of southern Europe, other Markets fared far better, with the United Kingdom falling in RevPAR only 6 percent compared to February’s decrease of 10 percent,” Chappell continued. “Scandinavia was 21 percent positive in RevPAR, and Germany was up by 6.7 percent in RevPAR. There is huge concern over Spain and Italy, which fell in RevPAR by 26 percent and 15 percent, respectively, as the Easter effect will be reversed next month. I think we can look forward to some eye-watering numbers in April in those markets.”
Key year-over-year market performers include (all currency figures are in euros):
- Four key markets reported double-digit occupancy increases: Cologne, Austria (+17.5 percent to 65.7 percent); Frankfurt, Germany (+16.6 percent to 64.6 percent); Oslo, Norway (+14.3 percent to 63.0 percent); and Stockholm, Sweden (+11.9 percent to 65.2 percent).
- Tel Aviv, Israel, reported the largest occupancy decrease, which was down 30.2 percent to 53.5 percent, followed by Salzburg, Austria (-24.4 percent to 43.0 percent) and Budapest, Hungary (-24.0 percent to 46.5 percent).
- Tel Aviv (+19.8 percent to EUR150.99) and Cologne (+18.2 percent to EUR116.52) were the only two markets to report double-digit ADR increases.
- Four markets reported ADR decreases of more than 20 percent: Salzburg (-32.9 percent to EUR78.15); Moscow, Russia (-29.9 percent to EUR179.17); Reading/M4 Corridor, Great Britain (-22.9 percent to EUR79.22); and Barcelona, Spain (-21.3 percent to EUR104.08).
- Two markets reported double-digit increases in RevPAR: Cologne (+38.9 percent to EUR76.59) and Frankfurt (+26.3 percent to EUR77.85).
- Four markets reported RevPAR decreases of more than 30 percent: Salzburg (-49.3 percent to EUR33.62); Barcelona (-33.5 percent to EUR55.78); Florence, Italy (-32.6 percent to EUR58.27); Moscow (-32.6 percent to EUR111.14).
|Country||Occupancy||% change||ADR||% change||RevPAR||% change|
About STR & STR Global: For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit .