LONDON—The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for September 2010, according to data compiled by STR Global.
“September saw the highest monthly occupancy and average room rate so far for this year”, said Elizabeth Randall, managing director at STR Global. “With 74.8 percent occupancy and €106.68 ADR, Europe also achieved its highest RevPAR of €79.78. One has to go back to September 2008 to get a similar RevPAR (€82.86). As the continued RevPAR recovery gains strength, the outlook looks brighter for the European markets despite the continued risks to the wider economies and the hotel markets”.
Highlights from key market performers for September include (year-over-year comparisons, all currency in euros):
- Prague, Czech Republic, reported the largest occupancy increase, rising 20.0 percent to 80.4 percent, followed by Istanbul, Turkey, with a 19.8-percent increase to 81.4 percent.
- Two markets posted occupancy decreases of more than 5 percent: Tel Aviv, Israel (-6.1 percent to 57.7 percent), and Athens, Greece (-5.4 percent to 72.9 percent).
- Stockholm, Sweden, experienced the largest ADR increase, rising 34.8 percent to EUR152.18, followed by Cologne, Germany (+30.0 percent to EUR119.21), and Geneva, Switzerland (+29.1 percent to EUR241.08).
- Two markets posted double-digit ADR decreases: Vienna, Austria (-22.3 percent to EUR95.83), and Aberdeen, Scotland (-15.5 percent to EUR83.58).
- Four markets experienced RevPAR increases of more than 35 percent: Stockholm (+49.1 percent to EUR127.44); Geneva (+45.3 percent to EUR183.69); Cologne (+42.5 percent to EUR95.48); and Munich, Germany (+37.5 percent to EUR134.44).
- Vienna (-15.2 percent to EUR81.66) and Aberdeen (-13.8 percent to EUR64.23) reported the largest RevPAR decreases for the month.
