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Increased Occupancy for European Region in August 2015

News August was a good month for the European hotel industry as the region enjoyed the growth of 2.2% to 77.1% in total. According to the latest report by STR Global, the average daily rate also added 6.4% and estimated 119.34 euro. With two main metrics increasing, revenue per available room (RevPAR) was growing as well and estimated 92.05 euro.

Hotels in Belgium posted growth of all three main metrics. Occupancy added 1.0% to 71.7% in total, average daily rate was raised by 5.4% to 80.26 euro in total, helping RevPAR to climb to 57.57 euro (+6.4%). Growing demand was one of major reasons for good results – in Belgium, the demand for hotels outpaces the growth of supply (+3.8% and +0.5% respectively). Not only hotels in Brussels enjoy growing demand, but also in Antwerp, Ghent, and Bruges. France was another leader in terms of occupancy for the month of August. The occupancy added same 1.0% (73.2% in total), and ADR added 3.2% to 179.65 euro, helping RevPAR add 4.2% to 131.43 euro in total. Demand in this country was also outpacing supply (+1.7% and +0.6% respectively). August was the third consecutive month of this positive trend.

Greek hotels saw their occupancy fall in August 2015. The decline estimated 0.8% to 74.7% in total, but thanks to increased ADR of 13.7% (163.50 euro), RevPAR was growing as well and estimated 122.05 (+12.8%). Hotels in Greece enjoyed strong growth of ADR in July and August thanks to bookings for the summer season. Finally, Turkey hotels saw their occupancy fall by 3.0% to 72.9% in August, but the double digit growth of ADR (+19.1% to TRY435.01) helped RevPAR grow as well and estimate TRY316.94, marking solid growth of +15.5%.


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