STR Reports February 2014 Performance of Hotels in Europe

According to data compiled by STR Global, the European hotel industry posted mixed results in year-on-year metrics when reported in U.S. Dollars, Euros and British Pounds for January 2014.

“Last year we saw occupancy growth and rate declines in Europe,” said Elizabeth Winkle, managing director of STR Global. “Year to date, we are seeing positive occupancy and average-daily-rate growth in the region. Northern Europe performed well this month compared to the other sub-regions in both occupancy and rate. Denmark, Estonia, Ireland and the United Kingdom are driving the positive performance in the sub-region. We expect 2014 to be a year of growth and it is positive to see rate growth in the early months of the year.”

Highlights from key market performers for February 2014 include (year-on-year comparisons, all currency in Euros):

- Athens, Greece, rose 23.2% in occupancy to 52.1%, reporting the largest increase in that metric. Amsterdam, Netherlands, followed with a 19.5% increase to 67.9%.

- Warsaw, Poland, fell 5.1% in occupancy to 60.3%, posting the largest decrease in that metric.

- Five markets achieved double-digit ADR gains: Copenhagen, Denmark (+15.7% to EUR112.69); Amsterdam (+14.7% to EUR112.31); Manchester, England (+13.2% to EUR80.12); Tallinn, Estonia (+11.4% to EUR71.36); and London, England (+10.2% to EUR153.78).

- Amsterdam jumped 37.1% in RevPAR to EUR76.27, reporting the largest increase in that metric, followed by Athens (+26.9% to EUR44.72) and Copenhagen (+22.2% to EUR64.40).

- Moscow, Russia, experienced the largest decrease in both ADR (-20.4% to EUR127.97) and RevPAR (-22.1% to EUR81.53).