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

Euro constant currency, October 2017 vs. October 2016

Europe

  • Occupancy: +1.7% to 76.0%
  • Average daily rate (ADR): +4.0% to EUR112.75
  • Revenue per available room (RevPAR): +5.8% to EUR85.68

Local currency, October 2017 vs. October 2016

Czech Republic

  • Occupancy: +3.6% to 84.3%
  • ADR: +4.1% to CZK2,334.36
  • RevPAR: +7.8% to CZK1,968.95

The absolute occupancy level was the highest for any October on record in the country. Levels were lifted by performance in Prague, which also set an October occupancy record (89.9%). The market hosted the World Sleep Congress from 7-11 October, and occupancy was above 90% on both 9 and 10 October.

Netherlands

  • Occupancy: +1.6% to 78.5%
  • ADR: +5.9% to EUR124.60
  • RevPAR: +7.6% to EUR97.80

STR analysts note that the country has shown consistent occupancy growth throughout 2017. At the market level, Amsterdam (EUR134.17), Utrecht (EUR85.81) and The Hague(EUR83.26) recorded the highest actual RevPAR levels.

Turkey

  • Occupancy: +22.9% to 64.2%
  • ADR: +15.9% to TRY272.08
  • RevPAR: +42.5% to TRY174.55

The country continues to recover from the 2016 coup d'état attempt, which contributed to a 52.2% October occupancy level last year. That level was the lowest for an October in Turkey since 2001. This October was the fourth consecutive month with double-digit occupancy growth in the country.

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.

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