STR: Europe hotel performance for October 2018
Madrid experiences record-breaking hotel performance - Amsterdam hotels benefit from busy events calendar
Europe's hotel industry reported positive results in the three key performance metrics during October 2018, according to data from STR.
Euro constant currency, October 2018 vs. October 2017
Europe
- Occupancy: +2.4% to 77.4%
- Average daily rate (ADR): +6.0% to EUR116.15
- Revenue per available room (RevPAR): +8.6% to EUR89.89
Local currency, October 2018 vs. October 2017
Madrid
- Occupancy: +5.6% to 85.7%
- ADR: +17.9% to EUR138.88
- RevPAR: +24.5% to EUR119.07
The absolute RevPAR level was the highest for any month in STR's Madrid database. STR analysts attribute a 7.4% jump in demand (room nights sold) to the CPhI Worldwide pharmaceutical conference (9-11 October) as well as the overall health of the market.
Amsterdam
- Occupancy: -1.4% to 84.9%
- ADR: +3.2% to EUR158.87
- RevPAR: +1.8% to EUR134.96
STR analysts attribute the strong performance to multiple events held in October: Helitech International (16-18 October), the Offshore Energy Exhibition & Conference (22-24 October) and the Amsterdam Dance Event (17-21 October).
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.