• Czech Republic occupancy reaches all-time high for February; rates decline.
  • France posts strong growth as Paris continues performance recovery.
  • Malta performance down in comparison with EU summit month last year.

LONDON – Europe's hotel industry reported increases across the three key performance metrics during February 2018, according to data from STR.

Euro constant currency, February 2018 vs. February 2017

Europe

  • Occupancy: +2.1% to 65.5%
  • Average daily rate (ADR): +2.5% to EUR99.87
  • Revenue per available room (RevPAR): +4.7% to EUR65.43

Local currency, February 2018 vs. February 2017

Czech Republic

  • Occupancy: +3.6% to 56.5%
  • ADR: -1.9% to CZK1,642.46
  • RevPAR: +1.6% to CZK928.61

The number of rooms nights sold (demand) and absolute occupancy level were the highest for any February in STR's Czech Republic database. STR analysts note that an incredibly stable supply situation continues to help performance in the country. However, RevPAR growth was limited as ADR declined for the second month in a row after nine consecutive months of increases to close 2017. Overall performance gains have been common among Central and Eastern European countries because they are generally considered safe destinations with stable political environments and growing economies.

France

  • Occupancy: +6.2% to 59.6%
  • ADR: +8.6% to EUR105.08
  • RevPAR: +15.4% to EUR62.62

STR analysts point out that February is historically the lowest hotel demand month of the year in France. However, the country reported its highest absolute occupancy level for a February since 2008 and highest absolute RevPAR level for a February since 2014. National performance was heavily influenced by Paris' 12.7% increase in RevPAR to EUR135.18. With its highest February occupancy since 2014, Paris continues to regain its attractiveness as a destination following the terror attacks of recent years.

Malta

  • Occupancy: -3.2% to 58.2%
  • ADR: -7.6% to EUR90.56
  • RevPAR: -10.5% to EUR52.71

According to STR analysts, year-over-year ADR comparisons were difficult to match due to the Malta Informal Summit last February, which brought together 28 EU heads of state of government. Demand actually rose slightly (+0.3%) year over year, but supply growth (+3.6%) pulled down occupancy levels.

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.

Nick Minerd
Public Relations Coordinator
+1 (615) 824 8664 ext. 3305
STR

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