STR Global Posts May 2009 Results For Europe
“Europe’s troubles can be found in the fall of average room rates”, said James Chappell, managing director of STR Global. “In U.S. dollar and euro terms, the region reports the highest drops in ADR for the month and year-to-date May compared to Asia/Pacific, the Americas and Middle East/Africa.
“For May, of the 40 markets tracked on our European Hotel Review, only four increased their average rates in local currency terms: Frankfurt, Tel Aviv and the northern European markets of Helsinki and Malmo”, Chappell continued. “The trade fairs helped Frankfurt to achieve the highest ADR increase of 22 percent for the 40 markets tracked”.
Year-over-year May 2009 figures for Europe (U.S. dollars, euros and British pounds):
Highlights from market performers for May include (year-over-year results, all currency figures are in euros):
- Frankfurt, Germany, reported the largest occupancy increase, rising 7.6 percent to 59.9 percent.
- Budapest, Hungary, experienced the largest occupancy decrease, falling 21.5 percent to 60.4 percent, followed by Geneva, Switzerland (-21.2 percent to 58.8 percent) and Tel Aviv, Israel (-21.0 percent to 71.0 percent).
- Frankfurt posted a 22.4-percent jump in ADR to EUR114.47, the largest increase of that metric.
- Three markets posted ADR decreases of more than 25 percent: Moscow, Russia (-41.9 percent to EUR165.49); Düsseldorf, Germany (-32.9 percent to 79.34); and Cardiff, United Kingdom (-25.5 percent to EUR64.90).
- Frankfurt reported the only RevPAR increase, up 31.7 percent to EUR68.55.
- Seven markets experienced RevPAR decreases of 30 percent or more: Moscow (-49.7 percent to EUR101.15); Düsseldorf (-41.5 percent to EUR41.52); Madrid, Spain (-36.4 percent to EUR61.15); Budapest (-34.4 percent to EUR45.48); Prague, Czech Republic (-33.2 percent to EUR59.00); Stockholm, Sweden (-32.8 percent to EUR77.41); and Dublin, Ireland (-30.0 to EUR59.17).
Performances of key countries in May (all monetary units in local currency)*:
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 37,000 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 or .