STR: Europe hotel performance for Q2 2018
Europe's hotel industry reported positive results in the three key performance metrics during Q2 2018, according to data from STR.Euro constant currency, Q2 2018 vs. Q2 2017Europe
- Dublin sets Q2 performance record
- Moscow performance soars thanks to the World Cup
LONDON -- Europe's hotel industry reported positive results in the three key performance metrics during Q2 2018, according to data from STR.
Euro constant currency, Q2 2018 vs. Q2 2017
Europe
- Occupancy: +1.1% to 75.5%
- Average daily rate (ADR): +3.8% to EUR115.54
- Revenue per available room (RevPAR): +4.9% to EUR87.20
Local currency, Q2 2018 vs. Q2 2017
Dublin
- Occupancy: +0.2% to 89.6%
- ADR: +9.5% to EUR155.75
- RevPAR: +9.7% to EUR139.51
The absolute values for occupancy, ADR and RevPAR were each the highest for any Q2 inSTR's Dublin database. The ADR value was the highest for any quarter. According to STRanalysts, Dublin's already high occupancy levels have left little room for year-over-year growth. However, the market's popularity as a destination and consistent demand for rooms continue to result in record-breaking performance.
Moscow
- Occupancy: +9.3% to 77.6%
- ADR: +78.9% to RUB9,731.73
- RevPAR: +95.5% to RUB7,549.57
The absolute performance levels were each the highest for any Q2 in STR's Moscow's database. Helped by a lack of significant supply growth and the obvious demand boost around the FIFA World Cup, the market exceeded performance expectations in June with a 206.8% spike in ADR to RUB17,029.19 and a subsequent 244.5% rise in RevPAR to RUB14,476.69. Saint Petersburg, on the other hand, saw June RevPAR fall 3.0% to RUB8,989.07 due to a 15.4% decline in occupancy.
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CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
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