Hotels in Europe reported growth across the three key performance metrics in January 2017, according to data from STR.
Occupancy: +5.1% to 57.1%
Average daily rate (ADR): +2.4% to EUR99.25
Revenue per available room (RevPAR): +7.6% to EUR56.66
Occupancy: +9.2% to 55.8%
ADR: +3.1% to EUR120.43
RevPAR: +12.5% to EUR67.15
France’s January performance showed a bounce back from a weak January 2016 that was marred by security concerns in the country. The submarkets of Paris City Centre (+29.7%), Charles de Gaulle Airport (+11.7%), Lyon (+44.6%) and Toulouse (+12.1%) all posted double-digit RevPAR growth for the month. STR analysts note that the country’s hotel performance should grow more stable as it becomes further removed from the terrorist attacks of the last several years.
Occupancy: +11.6% to 51.3%
ADR: +0.1% to EUR104.57
RevPAR: +11.7% to EUR53.67
Italy has experienced relatively flat supply from as far back as 2011, so any upswing in demand typically results in occupancy growth. January’s RevPAR growth was the highest year-over-year increase the country has seen in the metric since Milan hosted the 2015 Expo. Performance in January was driven by RevPAR growth in Milan (+19.5%), Rome (+8.1%), Florence (+14.3%) and Turin (+10.0%).
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