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Q1 Results for Key Regions of the World
The new statistics regarding the Q1 performance of all key regions compared to the previous year is available by SRT. According to the data, hotels in Europe enjoy improvement of all the three main metrics and the trend is expected to continue in 2017. On the other hand, hotels in the Middle East experience some difficulties and so they posted negative performance for the first quarter of the year.
European hotels managed to increase the occupancy by 4.1% to 63.5% in total in the first quarter of 2017. The average daily rate (ADR) was growing as well and reached EUR100.94, featuring an increase of 2.3%. Consequently, revenue per available room (RevPAR) increased, reaching the level of EUR64.06 (+6.5%). For hotels in the Middle East, the results were not so positive. The occupancy fell down by 1.4% by 70.5%, and ADR lost 6.8% and estimated US$173.06. Naturally, the decline made RevPAR fall as well to US$122.07 (-8.2%). The last region of EMEA, Africa, also posted positive results for Q1. The occupancy added 5.0% to 56.0% in total, and ADR added significant 9.8% to US$111.15. As the occupancy was growing together with average daily rate, RevPAR is also positive - +15.3% to US$62.19.
What about other regions of the world? Asia Pacific hotels reached fairly positive results. The occupancy increased by +3.3% to 68.3%, but that has become possible for the sake of ADR that lost 0.3% (US$104). RevPAR remained positive - +3.0% to US71.04. Finally, Central and South America had a negative start of the year. The occupancy lost 1.6% to 55.3%, and ADR was falling as well, featuring the decline of 6.1% to US$101.60. Revenue per available room fell by 7.6%to US$56.16.
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