EUROPE The hotel industry in Europe posted positive results in year-over-year metrics for March, according to data compiled by STR Global.
In the first quarter 2011, Europe saw increases in all three key performance metrics. The region’s occupancy rose 3% to 56.4%, its ADR was up 5.7% to €98.30 and its RevPAR increased 8.9% to €55.44. All Europe subregions achieved occupancy and rate growth for the month and the quarter.
Venice achieved the region’s largest occupancy increase, rising 32.5% to 65.7%, followed by Oslo, with a 22% increase to 68.3%. Two markets reported occupancy decreases of more than 5%: Malmo, which fell 9.4% to 55.7%, and Salzburg, which slipped 6.2% to 55.9%.
Four markets experienced ADR increases of more than 20%: Cologne (up 26.2% to €119.65), Istanbul (up 24.4% to €150.33), Vienna (up 24.4% to €109.33) and Zürich (up 21.6% to €211.94). Tel Aviv fell 6% in ADR to €160.80, reporting the region’s largest decrease in that metric.
Six markets achieved RevPAR increases of more than 30%: Venice (up 54.7% to €136.74), Cologne (up 44.9% to €86.98), Oslo (up 33.8% to €87.18), Vienna (up 33.2% to €81.24), Gothenburg (up 32.3% to €71.90) and Istanbul (up 31% to €108.43). Salzburg fell 9.7% in RevPAR to €40.73, reporting the largest decrease in that metric.