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Hotels in Europe Post Average Results for March 2013
March 2013 cannot be called a profitable month for hotels in Europe as vast majority of destinations posted mixed results. In the newest report by STR Global we can see that occupancy remained flat across Europe and added only 0.6%. The total increase of occupancy for the first quarter of 2013 estimated 1.2% to 58.1% in total. The average daily rate fell by 1.1% in March and estimated 96.3 euro, while RevPAR added 0.1% and estimated 55.95 euro.
March results were greatly affected by early Easter, but the holiday did not make any positive impact on the growth of main figures. As the first quarter is usually the indicator for the whole year, 2013 is likely to be rather a quiet year with no drastic changes, either positive or negative. The only region that posted big change in RevPAR was Southern Europe. Here the rise estimated almost 5%. However, such a growth is not the result of positive changes, but rather the result of the ADR growth. The average daily rate was too low in Southern Europe, so it has regained its position slightly.
Hotels in Bratislava (Slovakia) posted the highest growth of occupancy in March 2013. The increase estimated tremendous 20.2%, but the total occupancy is not so striking – 58.5%. Hotels in Athens are the negative leader – the occupancy has decreased by 19% to 47.8% in total. The top three destinations in terms of the ADR growth are hotels in Tel Aviv (Israel, 199.8 euro, +19.5%), Frankfurt accommodations (Germany, 133.6 euro, +16%), and hotels in Istanbul (Turkey, 144.9 euro, +10.5%).
Finally, markets with the highest growth of profit are Tel Aviv (+17% to 146.25 euro), Dublin (+16% to 68.4 euro), Bratislava (+13.2 to 30.8 euro), Istanbul (+11% to 106 euro), Edinburgh (+10.8 to 60.33 euro), and Budapest (+10.5 to 32.7 euro).
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