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

Euro constant currency, July 2017 vs. July 2016

Europe

  • Occupancy: +2.6% to 78.5%
  • Average daily rate (ADR): +4.3% to EUR118.30
  • Revenue per available room (RevPAR): +7.0% to EUR92.84

Local currency, July 2017 vs. July 2016

Poland

  • Occupancy: +1.5% to 78.2%
  • ADR: -1.6% to PLN285.62
  • RevPAR: -0.1% to PLN223.39

Demand outpaced supply in terms of growth in Poland, helping occupancy growth compensate for the decline in ADR. Warsaw recorded a 10.1% increase in RevPAR for the month, with occupancy up 8.0% and ADR up 1.9%. STR analysts note that the Polish capital's performance was exceptionally high during the first six days of the month when it hosted the International Theatre Schools Festival.

Spain

  • Occupancy: -0.6% to 80.7%
  • ADR: +7.7% to EUR129.34
  • RevPAR: +7.1% to EUR104.33

The country's ADR level was significantly lifted by Madrid (+13.3%) and Barcelona(15.5%). STR analysts note that it is still too early to identify a potential impact on hotel performance from the 17 August terror attack in Barcelona.

Turkey

  • Occupancy: +64.9% to 69.2%
  • ADR: +8.9% to TRY330.83
  • RevPAR: +79.5% to TRY229.04

Turkey's hotel performance showed dramatic year-over-year increases due to a comparison with the month of the coup d'état attempt in 2016. Istanbul saw a 132.5% increase in RevPAR for the month, with occupancy up 97.0% and ADR up 18.0%. STR analysts expect a similar growth pattern for August as performance declines continued through that month last year.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Alex Anstett
Media & Communications Coordinator - STR
STR

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