The European hotel industry recorded positive yearly results in November for all metrics recorded by STR Global, with demand surpassing North America's hotel market.
Elizabeth Winkle"Throughout the recovery, North America has steadily outperformed Europe in terms of demand growth on a 12-month rolling basis," Elizabeth Winkle, STR Global's managing director, said in the report. "However, in October 2013, demand growth for Europe began to outpace the demand growth of North America and this continues in November as well."
On a yearly basis, Europe recorded a 3.2 percent demand growth in November. On the other hand, North America recorded a 2.2 percent demand growth for the same time period.
More from the European report: Y-o-Y comparisons
Three markets experienced occupancy growth of more than 15 percent: Vilnius, Lithuania (+26.5 percent to 69.6 percent); Tel Aviv, Israel (+16.4 percent to 75.1 percent); and Athens, Greece (+16.1 percent to 54.3 percent).
Istanbul, Turkey, fell 6.4 percent in occupancy to 69.0 percent, reporting the largest decrease in that metric.
Vilnius rose 42.1 percent in ADR to EUR70.25, achieving the largest increase in that metric, followed by Warsaw, Poland (39.4 percent to EUR100.43).
Moscow, Russia (-12.2 percent to EUR137.46) posted the largest ADR decrease for the month.
Four markets experienced RevPAR growth of more than 20 percent: Vilnius (+79.8 percent to EUR48.92); Warsaw (+52.3 percent to EUR78.94); Tallinn, Estonia (+26.4 percent to EUR43.67); and Copenhagen, Denmark (+20.8 percent to EUR83.32).
Istanbul fell 13.3 percent in RevPAR to EUR90.62, reporting the largest decrease in that metric.
UK, Germany and Spain are the three most attractive hotel investment destinations in Europe, with more than two-thirds (69%) of investors identifying these markets as the preferred countries for hotel investment in 2018.
The market in the Russian capital is still riding strong, gaining volume of rooms sold in most segments and rates in some. Overall, the weighted market average occupancy of the quality hotels in the Russian capital had risen 2.6 ppt.
I travel a lot. And while I'm not a proponent of spending a great deal of money for a hotel, I certainly enjoy the amenities of five-star lodging. Especially if the client is paying for it. I prefer instead, to eat and drink my way around a town.