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Hotel Occupancy is 1.4% Up in Europe in January 2016

News January 2016 was a good month for European hotel industry. It managed to reach growth in all the three key metrics. As it is indicated in the newest report by STR Global, in the first month of 2016 hotels in Europe increased their occupancy by 1.4% to 54.7% in total if compared to January 2015. The average daily rate added 1.5% to 100.52 euro, and revenue per available room added 3.0% to 55.03 euro in total.

If analyze the region on the country basis, the occupancy of Belgium dropped by 2.1% by 55.5%, but the rise of ADR (average daily rate) of 3.1% (97.34 euro) helped Belgian hotels increase their RevPAR (revenue per available apartment) by 0.9% to 54.04 euro. The absolute value of RevPAR was also the highest for the country since 2008. Hotels in Switzerland posted decline of all the three key metrics. Occupancy dropped by 1.7% to 53.0%, ADR dropped by 3.3% to 254.34 francs, and RevPAR – by 4.9% to 134.84 francs. Hotels in Turkey also experienced certain difficulties in January. The decline of occupancy estimated 6.2% (47.6% in total). However, the growth of ADR of 10% (259.41TRY) helped increase RevPAR by 3.2% to 123.44TRY. Hotels in Turkey currently experience problems due to recent terrorist attacks and proximity to Syria.

If analyze the region on the city basis, we cannot fail to mention hotels in Budapest. Hotels in the Hungarian capital managed to improve all the three key metrics. The occupancy added 1.8% and estimated 48.8% in total, ADR grew by 6.3% to HUF21,745.38, helping RevPAR climb up by 8.3% to HUF10,621.66. This is a wonderful result for January that is traditionally a slow season. Hotels in Dublin, Ireland, also had a prosperous month. They managed to increase their occupancy by 7.3% to 63.7% in total while ADR added 19.4% in January 2016 to 104.36 euro. That helped hotels enjoy the growth of RevPAR of 28.0% to 66.51 euro. Dublin hoteliers benefited from strong demand that is stable last two years, so they could raise room rates safely. Finally, Belgrade hotels, Serbia, had a significant increase in occupancy of 55.2% (42% in total), helping RevPAR grow by 31.0% to 3,795.31RSD. At the same time, ADR dropped by 15.6% in January to 9,030.26RSD. The hotel industry of Belgrade might experience decrease of occupancy in coming years as the growth of hotel supply in the city outpaces demand.


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