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Europe Hotel Sector Enjoys Slight Increases in Occupancy, Room Rates in November

Europe Hotel Sector Enjoys Slight Increases in Occupancy, Room Rates in November

Vacation News » Europe Vacation News Edition | By Michael Gerrity | December 27, 2011 11:31 AM ET



According to STR Global, the European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for November 2011.

Year-over-year, November 2011 figures for Europe (U.S. dollars, euros and British pounds):

Year-over-year-November-2011-figures-for-Europe-US-dollars-euros-and-British-pounds-chart.jpg

"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):

Performances-of-key-countries-in-November-germany-italyrussia-spain-united-kingdom-2011.jpg


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