STR: Europe hotel performance for August 2017

LONDON -- Europe's hotel industry reported positive results in the three key performance metrics during August 2017, according to data from STR.

Euro constant currency, August 2017 vs. August 2016

Europe

• Occupancy: +2.5% to 77.4%
• Average daily rate (ADR): +5.0% to EUR116.66
• Revenue per available room (RevPAR): +7.6% to EUR90.26

Local currency, August 2017 vs. August 2016

Belgium

• Occupancy: +16.1% to 65.5%
• ADR: +1.5% to EUR81.48
• RevPAR: +17.8% to EUR53.35

Belgium's performance has risen steadily since late 2016 as the country continues to recover from the March 2016 terror attacks in Brussels. Demand (rooms sold) increased 15.5% during August, while supply (rooms available) declined 0.5% year over year.Brussels posted a 26.8% increase in occupancy to 59.6%, while ADR was up 0.8% to EUR78.80.

Hungary

• Occupancy: -0.7% to 86.5%
• ADR: +22.2% to HUF25,874.17
• RevPAR: +21.4% to HUF22,374.13

STR analysts note that Hungary has become a popular tourist destination in recent years, and the country's ADR has been growing considerably since April. Although occupancy declined slightly year over year as a result of supply growth (+0.6%) and flat demand (+0.0%), the country's actual occupancy level remained high. At the market level,Budapest reported a 1.1% decline in occupancy but a 23.1% increase in ADR for the month.

Italy

• Occupancy: +2.2% to 66.9%
• ADR: +4.6% to EUR169.39
• RevPAR: +7.0% to EUR113.32

Italy's performance growth in August was mainly driven by the Luxury class, which reported a 9.5% RevPAR uplift for the month. Rome was the only market to report a decline in RevPAR (-11.6%) for the month, with ADR down 10.1%. STR analysts believe this was likely because the market hosted the European Society of Cardiology congress last August, but the event was held in Barcelona this year.

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Alex Anstett

Media & Communications Coordinator - STR [email protected]