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Europe Posts Growth of Occupancy During First Six Months of 2013
It looks like 2013 will be a good year for Europe. At least, during the first six months occupancy in the region grew by 2% to 64.9% in total. Even though the average daily rate lost 0.8% (101.64 euro in total), revenue per available room added 1.2% and estimated almost 66 euro.
The data provided by STR Global shows that hotels in Europe post positive dynamics in 2013 in dollars, euro or British pounds. However, many countries post flat results, and this trend is likely to continue until the end of the year. Of course, there are outsiders as well, for example, because of unrest in the market hotels in Istanbul (Turkey) posted a double digit decline in occupancy in June. At the same time, hotels in Milan (Italy) benefited greatly from the annual meeting of the European Society of Hypertension. The same applies to Lisbon (Portugal), where a number of events helped to boost performance of local hotels.
Here are some key figures and top performers of June 2013. Hotels in Athens (Greece) have managed to reach the double-digit growth of occupancy of 13.5% to 74.4% in total. This is the only double-digit growth throughout Europe. The largest decrease in occupancy was reached by hotels in Istanbul (Turkey) – minus 18.9% to 68.0% in total. Several cities posted growth of average daily rate in June. These are hotels in Lisbon (Portugal) that added 17.9% to 106.4 euro, Vilnius accommodations (Lithuania) - +13.8% to 57 euro. The result of hotels in Paris was somewhat below Vilnius. Here the growth of the average daily rate estimated 10.7% to 335.9 euro. The largest decrease of the average daily rate was reached by hotels in Warsaw (Poland) – minus 55.4% to 75.24 euro.
Markets with the biggest growth of RevPAR in June are Lisbon (+27%), Milan (+22%), Athens (18.3%), Vilnius (+18%), Budapest (Hungary, +13.3%), and Paris (+11.2%). As expected, the biggest drop in revenues was reached by hotels in Istanbul and Warsaw, minus 23 and 53 per cent respectively.
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