European Hotel Industry Reports Growth Across All Performance Metrics for Q1 2018

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27/4/2018

Europe’s hotel industry reported increases across the three key performance metrics during Q1 2018, according to data from STR.

Euro constant currency, Q1 2018 vs. Q1 2017

Europe

• Occupancy: +2.2% to 64.5%
• Average daily rate (ADR): +2.6% to EUR100.61
• Revenue per available room (RevPAR): +4.8% to EUR64.89

Local currency, Q1 2018 vs. Q1 2017

Ireland

• Occupancy: +3.4% to 67.6%
• ADR: +6.2% to EUR113.67
• RevPAR: +9.7% to EUR76.79

The absolute levels in the key performance metrics were each the highest for a Q1 in STR’s Ireland database. STR analysts note that performance is strong across the country, not just in the always popular Dublin, where RevPAR increased 7.8%. Continuing to help Ireland’s performance is a lack of meaningful supply growth.

Russia

• Occupancy: +6.1% to 53.5%
• ADR: +0.6% to RUB4,942.27
• RevPAR: +6.7% to RUB2,645.49

While supply growth remained steady in the country, demand grew at a high rate (+7.9%) for the second consecutive Q1 in Russia.

Turkey

• Occupancy: +24.0% to 63.7%
• ADR: +27.9% to TRY282.55
• RevPAR: +58.5% to TRY180.06

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STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.