STR: Europe Hotel Performance For February 2019
Key February takeaways:
- Edinburgh shows lower occupancy and room rates due to supply growth
- Saint Petersburg posts significant performance level
STR's sample comprises more than 63,000 hotels and 8.6 million hotel rooms around the globe. Contact email@example.com for additional market data.
LONDON — Europe's hotel industry reported positive results in the three key performance metrics during February 2019, according to data from STR.
Euro constant currency, February 2019 vs. February 2018
- Occupancy: +0.1% to 65.0%
- Average daily rate (ADR): +1.9% to EUR100.60
- Revenue per available room (RevPAR): +2.0% to EUR65.34
Local currency, February 2019 vs. February 2018
- Occupancy: -1.8% to 70.1%
- ADR: -10.7% to GBP74.40
- RevPAR: -12.3% to GBP52.18
STR analysts note that although performance was down year over year, the absolute levels in the metrics were well above February averages for the market. Supply (+6.2%) outgrew solid demand (+4.2%) and pressured both occupancy and ADR.
Saint Petersburg, Russia
- Occupancy: +6.7% to 45.5%
- ADR: +2.6% to RUB4,128.27
- RevPAR: +9.5% to RUB1,877.22
The absolute RevPAR level was the highest for any February in STR's database. Strong demand growth (+6.5%), helped by the final stages of the St. Petersburg Open early in the month, and mostly flat supply (-0.2%) factored into overall positive performance in the market.
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STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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. For more information, please visit str.com.