Leaders in Hospitality News

STR: Europe hotel performance for Q3 2017

STR: Europe hotel performance for Q3 2017


By  HNN Newswire

LONDON—Europe’s hotel industry reported positive results in the three key performance metrics during Q3 2017, according to data from STR.

Euro constant currency, Q3 2017 vs. Q3 2016

Europe

Occupancy: +2.2% to 79.2%
Average daily rate (ADR): +4.5% to EUR119.17
Revenue per available room (RevPAR): +6.9% to EUR94.36

Local currency, Q3 2017 vs. Q3 2016

Germany

Occupancy: +1.9% to 75.9%
ADR: +2.0% to EUR102.21
RevPAR: +3.9% to EUR77.60

The absolute levels in each of the three key performance metrics were the highest for any quarter on record in Germany. STR analysts note that performance was driven primarily by weekdays, which indicates strong corporate business in the country. At the market level, Berlin also reported strong performance with an 82.8% occupancy level and an all-quarter ADR record of EUR98.07. Additionally, Frankfurt posted its highest ADR (EUR117.28) for a third quarter, benefitting as host of the biennial Automobile Trade Fair (IAA) in September.

Portugal

Occupancy: -0.5% to 86.4%
ADR: +13.7% to EUR137.65
RevPAR: +13.1% to EUR118.89

Despite a slight dip in occupancy, Portugal’s ADR and RevPAR levels were the highest for any third quarter on record in the country. Lisbon, which hosted the Annual Meeting of the European Association for the Study of Diabetes (EASD) in September, posted its highest ever Q3 ADR at EUR124.27. During the 5-day conference, year-over-year ADR increases ranged from 75.5% to 92.8%.

Slovakia

Occupancy: +1.8% to 73.3%
ADR: -5.6% to EUR62.99
RevPAR: -4.0% to EUR46.19

Slovakia’s year-over-year comparisons were hindered mostly by September performance, with a 1.6% decline in occupancy and a 13.0% drop in ADR. However, STR analysts note that there was a high basis of comparison in September 2016, when EU presidency meetings were held in Bratislava. Year-over-year comparisons were difficult in July as well due to a busy month in 2016, with events such as the European Summits of Regions and Cities.

Download STR's global hotel review for September 2017 here.

International Media Contacts: 

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.