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Hotels in Europe Feature Mixed Growth in July
STR Global has published new stats for European hotels in July 2012. According to the data, the accommodations of the region posted mixed results. There is a clear rise of ADR (average daily rate) throughout Europe. When measured in euro, ADR is 7% up. However, the occupancy features small declines during the third consecutive month, and this is definitely not a good sign.
Even hotels in London couldn’t avoid this problem. Of course, Olympics drew attention to the theme of sport and made problems less sufficient, but the performance of June and non-Olympic days of July were distinguished by rather weak performance. As it comes from the data received from 422 hotels in London, even first four days of the games couldn’t charge the overall month statistics and didn’t offset weak occupancy. The average occupancy of hotels in London in July was 80.7%. That is 11.1% below the level of 2011. The average daily rate estimated £166.34 (US$261.75) – 8.8% higher than in July 2011. In terms of occupancy London is currently in the top eight cities out of 31 capital or giveaway cities in Europe. Of course, August will be distinguished by better performance as the majority of the Olympic events took place during that month.
The highest increase in occupancy was reached by hotels in Bratislava (Slovakia). They added 19.5% to 51.2% in total. The second highest raise in occupancy was reached by Vilnius accommodations (Lithuania) – plus 10.6% to 78.7%. Only two markets featured double digit decreases in occupancy. These are London (down 12.1% to 80.7%) and Istanbul (down 10.6% to the level of 72.7%).
Markets with top growth of ADR are Reykjavik (Iceland) that is 26.1% up to €129.63 (US$161.36), hotels in Tel Aviv – plus 22.4% to €205.15 (US$255.37); London accommodations featured the growth of 22.1% to €212.91 (US$265.03). The fourth place is occupied by hotels in Manchester (England) – 18.5% up to €80.76 (US$100.53). Finally, hotels in Istanbul posted the growth of ADR of 15.0% to €176.84 (US$220.13).
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