Europe region performance results for October 2009
“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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STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to thehotel 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, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, STR Analytics and Hotel News Now. For more information, please visit www.strglobal.com.