"European hotel performance continued to hold on with slight increases in occupancy and average room rate compared to November 2010", said Elizabeth Randall, managing director of STR Global. "Despite a weakening in the wider economic environment, demand is still up, growing 4.4 percent last month. With the year coming to close, European hoteliers reported 6.0-percent RevPAR growth for the 11 months this year when measured in euros, almost equally driven by occupancy and ADR increases. The second half definitely showed softening and weaker year-on-year growth resulting from the stronger growth levels we saw in the latter half of 2010".
Highlights from key market performers for November 2011 include (year-over-year comparisons, all currency in euros):
Performances of key markets in November (all monetary units in euros):
Aberdeen, United Kingdom, (+8.1 percent to 81.1 percent), and Budapest, Hungary (+8.0 percent to 53.9 percent), reported the largest occupancy increases for the month.
Athens, Greece, fell 13.8 percent in occupancy to 45.0 percent, posting the largest occupancy decrease.
Paris, France, achieved the largest ADR increase, up 12.2 percent to EUR227.32, followed by Florence, Italy, with a 9.2-percent increase to EUR116.27.
Two markets experienced double-digit ADR decreases: Cardiff, U.K. (-19.5 percent to EUR64.00), and Glasgow, U.K. (-14.3 percent to EUR71.44).
Paris (+16.4 percent to EUR179.48) and Budapest (+14.2 percent to EUR33.61) reported the only double-digit RevPAR increases for the month.
Cardiff fell 20.7 percent in RevPAR to EUR44.73, ending the month with the largest decrease in that metric.
Performances of key countries in November (all monetary units in local currency):
"FIFA World Cup 2018 had the desired effect: the number of guests in hotels of cities that are traditionally in demand by Russian and international tourists has increased this summer. In Saint-Petersburg, for example, the occupancy broke a three-year record with market average result of 88%
In 2018 hotels in the city saw a 10.6% increase in RevPAR [rooms revenue per available room] year-on-year, but visitor numbers took a knock at the end of the year and the start of 2019 with the unrest caused by the 'gilets jaunes' movement.
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.