Hotels in Europe recorded mostly negative results in the three key performance metrics when reported in euro constant currency, according to August 2016 data from STR.
Compared with August 2015, Europe reported an occupancy decrease of 1.5% to 75.8%. Average daily rate (ADR) was flat at EUR115.94. Revenue per available room (RevPAR) dipped 1.5% to EUR87.88.
Israel reported decreases across the three metrics: occupancy (-9.5% to 69.9%), ADR (-3.1% to ILS908.84) and RevPAR (-12.2% to ILS635.64). August performance in the country has fluctuated significantly over the past several years due to various political unrest issues, according to STR analysts.
Russia posted a 6.7% increase in occupancy to 70.6% as well as double-digit growth in ADR (+16.5% to RUB4,824.38) and RevPAR (+24.3% to RUB3,408.06). The absolute occupancy level was the highest in the country since September 2011. STR analysts cite a boost in domestic travel, as a result of a weakened Russian Ruble, as a reason behind the performance.
Malta recorded increases in each of the three metrics. Occupancy in the country increased 0.9% to 92.8%; ADR was up 4.3% to EUR155.74; and RevPAR grew 5.3% to EUR144.54. Being a particularly seasonal market, Malta has seen fairly strong performance since May, and hoteliers capitalized on high demand with higher rates throughout the summer months. The August absolute RevPAR level was the highest for any month on record in Malta.
Barcelona, Spain, experienced a 0.8% decrease in occupancy to 86.8%, but a 10.2% rise in ADR to EUR144.58 pushed RevPAR up 9.4% to EUR125.54. With fairly flat occupancy performances, ADR has been the driver of RevPAR in the market since the beginning of the year. Hoteliers maintained their focus on rate in August, leading to the market’s highest absolute RevPAR level for any August on record.
Istanbul, Turkey, reported significant declines across the board: occupancy (-33.6% to 50.4%), ADR (-31.8% to TRY288.06) and RevPAR (-54.7% to TRY145.13). According to STR analysts, terrorism in the country along with the July coup d’état attempt all played a role in the performance declines. At the same time, supply has grown 6.9% year to date in Istanbul, compounding the issues for the local hotel industry.
Milan, Italy, reported double-digit decreases in each metric. Occupancy dropped 23.0% to 48.9%; ADR was down 11.3% to EUR112.32; and RevPAR fell 31.6% to EUR54.88. The significant performance declines were due to comparisons with the Expo Milano months from 2015. Aside from last year, August is typically a slower month for Milan.
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