The new data published by STR Global shows that six large European markets posted growth in October 2014. This year can be called a positive one for hotel industry of Europe as it has posted flat or positive results every month. October performance was no exception. The average daily rate or EUR110.42 was even the highest rate reached by hotels in the region during last 10 years. Compared to 2013, the rate was 3.8% higher in October 2014. Northern Europe was the main driving force for the growth, followed by Southern Europe.
Occupancy added 2.3% on average during the month, and average RevPAR in Euro estimated €82.50 (+6.9%). The growth was reached thanks to good results of such markets as Dublin, Copenhagen, London, and Edinburgh. Hotels in Western Europe enjoyed highest ADR level of €117.34 that was reached thanks to positive results of such popular destinations as Paris, Geneva, Amsterdam, and Zurich, and in Southern Europe hotels in Madrid, Athens, and Lisbon contributed to positive results of ADR growth.
The highest growth in the region was reached by hotels in Athens, Greece - +18.2% to 79.6% in total. The largest fall in the metric was posted by Tel Aviv accommodations minus 24.4% to 64.9% in total. Seven markets posted the growth of ADR higher than 10.0% - Geneva (Switzerland, +14.6% and €243.28 in total), Manchester hotels (England, €94.32 and +12.9%), hotels in Lisbon (Portugal, the growth of 12% to €97.86), Amsterdam (Netherlands, €161.27 in total and the growth of 11.1%), Paris hotels (+10.8 to €295.21 in total), hotels in Budapest (+10.4% to €75.37 in total), and hotels in Edinburgh, Scotland (+10.2 percent to the total of €99.14).