The Europe hotel industry posted mixed results in November 2012, with occupancy remaining the same as November 2011 at 65.4% but average daily rates continuing to rise year-over-year. Looking at the year to date, 2012 saw the highest average daily rate increase of the last five years at 4.9%. Hotels in the economy and midscale segments struggled the most, with declining demand pushing occupancy down 2% to 68.1% for those segments.
Hotel industry in the european region reports mixed results for november 2012 hotel news resource
1. ST R Glo bal Po st s No ve m be r 20 12 Re sult s f o r Euro pe an Re gio n
Date : 20 12-12-24
'hotels reported 65.4 percent occupancy, the same as November 2011. Average daily rates (ADR) continued to rise,
reporting year- on- year increases throughout all months thus far in 2012. Looking at year to November (YTD), 2012
saw the highest ADR increase (4.9 percent) of the last five years. Splitting down the YTD performance by segments,
hotels in the economy and midscale combined segments had a more difficult time this year with declining demand (-
1.3 percent), which pushed down occupancy by 2 percent to 68.1 percent.'
The Europe hotel industry posted mixed results in year- over- year metrics when reported in U.S. dollars, euros and
British pounds for November 2012, according to data compiled by STR Global.
“Europe’s occupancy stagnated over recent months”, said Eliz abeth Randall Winkle, managing director of STR
Global. “November 2012 is no exception, as hotels reported 65.4 percent occupancy, the same as November 2011.
Average daily rates (ADR) continued to rise, reporting year- on- year increases throughout all months thus far in 2012.
Looking at year to November (YTD), 2012 saw the highest ADR increase (4.9 percent) of the last five years. Splitting
down the YTD performance by segments, hotels in the economy and midscale combined segments had a more difficult
time this year with declining demand (- 1.3 percent), which pushed down occupancy by 2 percent to 68.1 percent. This
segment was the only one with demand decreases, but it still achieved the highest actual occupancy”.
Highlights from key market performers for November 2012 include (year- over- year comparisons, all currency in
euros):
Reykjavik, Iceland, reported the largest occupancy increase, rising 28.8 percent to 60.8 percent, followed by
Istanbul, Turkey, with a 14.3- percent increase to 73.7 percent.
Tel Aviv, Israel, posted the only double- digit occupancy decrease, falling 18.9 percent to 64.9 percent.
Three markets experienced double- digit ADR increases: Edinburgh, United Kingdom (+12.0 percent to
EUR86.82); Frankfurt, Germany (+10.8 percent to EUR113.65); and Reykjavik (+10.1 percent to EUR68.36).
Athens, Greece, fell 9.3 percent in ADR to EUR87.38, ending the month with the largest decrease in that metric.
Reykjavik jumped 41.8 percent in RevPAR to EUR41.59, achieving the largest increase in that metric, followed
by Dublin, U.K. (+16.2 percent to EUR61.76), and Istanbul (+15.0 percent to EUR104.21).
Tel Aviv posted the only double- digit RevPAR decrease, falling 18.0 percent to EUR111.86.
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2. Ab o ut ST R G lo b al:
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industry- access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific
and South America. STR Global provides a single source of global hotel data covering daily and monthly performance
data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the
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information, please visit www.strglobal.com.
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