LONDON—The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for May 2011, according to data compiled by STR Global.
Year-over-year, May 2011 figures for Europe (U.S. dollars, euros and British pounds):
| Europe |
% change |
| Occupancy |
71.4% |
+5.3% |
| ADR (U.S. dollars) |
$150.73 |
+26.0% |
| ADR (euros) |
€105.54 |
+8.3% |
| ADR (British pounds) |
£91.51 |
+10.5% |
| RevPAR (U.S. dollars) |
$107.69 |
+32.7% |
| RevPAR (euros) |
€75.40 |
+14.0% |
| RevPAR (British pounds) |
£65.38 |
+16.3% |
Source: STR Global
“European hotels continue to bring in good results across the regions”, said Elizabeth Randall, managing director of STR Global. “Occupancy and average room rate grew 5 percent and 8 percent respectively for May. Supply growth remains subdued across Europe at 1.1 percent for the first five months coupled with demand improving 5.3 percent, which helps hoteliers to build revenue per available room. The year-to-date RevPAR of €61 is greater than the year-to-date results of the past two years, but still €6 below the YTD RevPAR achieved in 2008. We expect that, given economic conditions do not change for the worse, the recent solid recovery in occupancy and average room rates continues over coming months.
“Düsseldorf is the star performer this month, with high increases in occupancy and average room rates”, Randall said. “Düsseldorf hosted the Eurovision Song Contest and Interpack trade fair which boosted the city’s results”.
Highlights from key market performers for May 2011 include (year-over-year comparisons, all currency in euros):
• Düsseldorf, Germany, achieved the largest occupancy increase, rising 34.1 percent to 72.6 percent, followed by Gothenburg, Sweden, with an 18.6-percent increase to 77.5 percent.
• Birmingham, United Kingdom, fell 12.1 percent in occupancy to 65.7 percent, reporting the largest decrease in that metric, followed by Istanbul, Turkey with a 6.8-percent decrease to 76.5 percent.
• Three markets posted ADR increases of more than 30 percent: Düsseldorf (+67.5 percent to EUR146.86); Istanbul, Turkey (+32.6 percent to EUR207.84); and Gothenburg (+31.4 percent to EUR125.02).
• Birmingham (-24.9 percent to EUR66.37) and Madrid, Spain (-11.8 percent to EUR92.77), reported the largest ADR decreases.
• Düsseldorf jumped 124.6 percent in RevPAR to EUR106.60, reporting the largest increase in that metric. Four other markets achieved RevPAR increases of more than 35 percent: Gothenburg (+55.8 percent to EUR96.85); Munich, Germany (+40.1 percent to EUR90.13); Cologne, Germany (+38.8 percent to EUR88.04); and Zurich, Switzerland (+36.9 percent to EUR163.84).
• Birmingham fell 34.0 percent in RevPAR to EUR43.62, reporting the largest decrease in that metric.
Performances of key countries in May (all monetary units in local currency):
| Country |
Occupancy |
% change |
ADR |
% change |
RevPAR |
% change |
| Germany |
72.6% |
+10.3% |
EUR98.80 |
+11.7% |
EUR71.74 |
+23.2% |
| Italy |
68.8% |
+6.3% |
EUR130.12 |
+5.7% |
EUR89.52 |
+12.3% |
| Russia |
59.9% |
+5.5% |
RUB5370.62 |
+10.8% |
RUB3216.64 |
+17.0% |
| Spain |
66.7% |
+3.9% |
EUR81.68 |
+0.9% |
EUR54.50 |
+4.8% |
| United Kingdom |
76.2% |
+0.8% |
GBP81.21 |
+7.6% |
GBP61.84 |
+8.5% |
*percentages are increases/decreases for May 2011 vs. May 2010
View Global hotel review for May 2011.
About STR Global:
STR Global provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.strglobal.com.
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