Europe December 2010 results

The European hotel industry posted mostly positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for year-end 2010, according to data compiled by STR Global.

"Recovery took hold over most of Europe during 2010", said Elizabeth Randall, managing director of STR Global. "Demand returned, and with limited supply increases overall, most hotel markets boosted their occupancy levels and were able to build their average rates. Whilst we have seen great percentage change growth, we need to highlight that in most cases the peak-levels of 2008 have not yet been reached. As RevPAR continued to show similar growth levels in the last quarter of 2010 as in the third and second quarter, it makes us optimistic about a continued recovery in 2011".

Highlights from key market performers for year-end 2010 include (year-over-year comparisons, all currency in euros):

· Tel Aviv, Israel, increased 17.9 percent in occupancy to 75.6 percent, reporting the largest increase in that metric. Istanbul, Turkey, followed with a 14.2-percent increase to 72.7 percent.

· Malmo, Sweden, fell 5.7 percent in occupancy to 63.5 percent, reporting the largest decrease in that metric.

· Stockholm, Sweden (+19.1 percent to EUR118.46), and Munich, Germany (+18.5 percent to EUR113.18), experienced the largest ADR increases for the year.

· Two markets reported RevPAR increases of more than 30 percent: Tel Aviv, Israel (+32.3 percent to EUR132.10), and Munich (+31.1 percent to EUR81.56).

· Copenhagen, Denmark, reported the largest ADR (-14.8 percent to EUR96.33) and RevPAR (-12.4 percent to EUR62.48) decreases for the year.

December 2010

Overall for December, the Europe region's occupancy rose 1.4 percent to 52.1 percent, ADR was up 6.6 percent to EUR97.36, and RevPAR increased 8.0 percent to EUR50.68.