Industry Update
Editorial Article24 September 2010

STR Global posts August 2010 results for Europe

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Deloitte & Touche

The European hotel industry posted mixed results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for August 2010, according to data compiled by STR Global.

“The recovery in the European hotel market continues in August with increases across all three performance measures when measured in euros”, said Elizabeth Randall, managing director of STR Global. “Whilst these results are still influenced by the weak comparables last year, the better economic conditions and the return of the business and MICE segments have assisted the recovery. This demand pick up has helped hoteliers to start rebuilding their average daily rates which is for year to August, however, still about €10 below the YTD results achieved in 2008. A notable exception is London, which aided by the weak UK£ exchange rate, has achieved the highest YTD RevPAR results (£99.33) this year since 2004. June and July 2010 were the best performing months across that time frame”.

Highlights from key market performers for August include (year-over-year comparisons, all currency in euros):

  • Frankfurt, Germany, experienced the largest occupancy increase, rising 22.6 percent to 58.2 percent, followed by Lisbon, Portugal (+19.7 percent to 77.5 percent), and Antwerp, Belgium (+16.8 percent to 66.5 percent).
  • Three markets posted occupancy decreases of more than 5 percent: Athens, Greece (-7.8 percent to 52.5 percent); Geneva, Switzerland (-7.2 percent to 54.3 percent); and Aberdeen, Scotland (-6.8 percent to 69.4 percent).
  • Three markets ended the month with ADR increases of more than 20 percent: Stockholm, Sweden (+39.9 percent to EUR130.45); Malmo, Sweden (+25.2 percent to UER85.99); and Zurich, Switzerland (+22.4 percent to EUR169.74).
  • Barcelona, Spain, posted the only double-digit ADR decrease, falling 11.8 percent to EUR98.56.
  • Four markets achieved RevPAR increases of more than 30 percent: Stockholm (+50.8 percent to EUR109.45); Frankfurt (+42.9 percent to EUR51.41); Amsterdam, Netherlands (+34.5 percent to EUR106.56); and Tel Aviv, Israel (+30.2 percent to EUR196.02).
  • Barcelona fell 11.2 percent in RevPAR to EUR75.45, reporting the largest decrease in that metric.
Konstanze Auernheimer (STR Global)
Director of Marketing
Phone: +44 (0)207 922 1961
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