The European hotel industry posted mostly positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for April 2013, according to data compiled by STR Global.
“Europe has seen virtually no growth in 2013 with RevPAR increases of only 0.8 percent year-to-date April, in euros,” said Elizabeth Winkle, managing director of STR Global. “Unlike the ADR growth at the end of 2012, 2013 is showing all growth coming from occupancy, which increased modestly 1.6 percent to 60.4 percent.
“While many European cities are posting declines, Bratislava (+17.1 percent), Dublin (+ 13.0 percent) and Istanbul (10.3 percent) all reported double-digit RevPAR increases”, Winkle continued. “Bratislava is benefitting from strong occupancy growth (+19.9) to 49.8 percent, albeit from a low base. Dublin has hit its stride after its recovery in 2012. Through April, Dublin hotels have boasted occupancy growth of 6.1 percent to 67.9 percent, and ADR improved 6.5 percent to €84.52. Strong demand and limited new supply are creating a better environment for hotels, and with the destination considered more affordable, I expect the growth trend to continue. Additionally, Istanbul continues to drive rate with an ADR increase of 10.3 percent, contributing entirely to the strong RevPAR performance”.
Highlights from key market performers for April 2013 include (year-over-year comparisons, all currency in euros):
* Bucharest, Romania, reported the largest occupancy increase, rising 19.3 percent to 61.1 percent. Three other markets experienced double-digit occupancy increases: Bratislava, Slovakia (+16.1 percent to 61.0 percent); Zurich, Switzerland (+13.7 percent to 70.8 percent); and Vilnius, Lithuania (+11.3 percent to 60.6 percent).
* Tallinn, Estonia (-12.5 percent to 53.6 percent), posted the largest occupancy decrease in April.
* Berlin, Germany, rose 11.2 percent in ADR to EUR87.61, reporting the largest increase in that metric.
* Barcelona, Spain, posted the largest ADR decrease, falling 10.1 percent to EUR110.45.
* Three markets achieved RevPAR increases of 15 percent or more: Bucharest (+24.9 percent to EUR47.82); Zurich (+22.9 percent to EUR136.07); and Bratislava (+15.0 percent to EUR37.81).
* Barcelona reported the largest RevPAR decrease, falling 19.0 percent to EUR80.49.