The European hotel industry posted mixed results year-on-year in March, according to data compiled by STR Global.
Amongst Europe’s sub-regions, Northern Europe saw double-digit growth for ADR (+14.2 percent to EUR110.53) and RevPAR (+16.2 percent to EUR80.31) when compared to March 2014. Within the sub-region, Ireland drove the increases with significant gains in both ADR (+9.4 percent to EUR97.33) and RevPAR (+17.9 percent to EUR71.81).
Southern Europe (+13.0 percent to EUR61.90) also experienced a double-digit increase in RevPAR. Spain served as the primary driving factor for the sub-region with a 22.7-percent increase in RevPAR to EUR64.45. Barcelona, Spain, hosted the Mobile World Congress Conference in early March.
Eastern Europe recorded the highest occupancy increase (+8.3 percent to 56.2 percent) but experienced the steepest decline in ADR (-5.1 percent to EUR70.14).
Amongst countries in Europe, eight experienced RevPAR increases of at least 15.0 percent when reported in Euros: Malta (+26.7 percent to EUR58.85); Spain (+22.7 percent to EUR64.45); Lithuania (+18.7 percent to EUR28.55); Czech Republic (+18.6 percent to EUR38.04); Hungary (+18.6 percent to EUR38.01); Ireland (+17.9 percent to EUR71.81); Israel (+17.4 percent to EUR96.25); and Slovakia (+15.0 percent to EUR32.23).
Israel recorded the highest increase in ADR when reported in Euros, up 28.2 percent to EUR161.58. The country also experienced the largest decline in occupancy (-8.4 percent to 59.6 percent).
Slovakia posted the highest increase in occupancy, up 13.1 percent to 53.3 percent.
Russia experienced the largest decreases in ADR (-21.1 percent to EUR76.52) and RevPAR (-18.2 percent to EUR37.94). The country’s performance continues to be affected by international sanctions. The devaluation of the Russian ruble, which began late last year, has led to greater performance drops for the first quarter of 2015 when compared to the same months from 2014.
Comments are closed.