EUROPE The Europe hotel industry posted positive results in year-over-year metrics for January, according to data compiled by STR Global.
“Europe’s recovery continued in January 2011 with solid growth in occupancy and ADR,” says Elizabeth Randall, managing director of STR Global. “With a 5% increase in demand and limited supply growth, the outlook is promising.”
The Men’s Handball World Championship benefited Malmo and Gothenburg, two of the eight locations across Sweden hosting the tournament. The championship, along with a trade fair in Munich, brought additional demand to the cities in otherwise off-peak months.
Gothenburg reported the largest occupancy increase, rising 22.8% to 52.2%, followed by Venice, with a 20.1% increase to 31.4%. Cardiff fell 5.1% to 49% in occupancy, reporting Europe’s largest decrease in that metric, followed by Manchester, with a 3.8% decrease to 59%.
Four markets posted ADR increases of more than 20%: Malmo (up 33.2% to €109.32)m Gothenburg (up 24.1% to €102.30), Munich (up 23% to €115.25) and Geneva (up 20.5% to €253.24). Three markets reported ADR decreases: Athens (down 3.3% to €89.26), Hamburg (down 2.7% to €91.60) and Budapest (down 2.5% to €58.93).
Malmo jumped 57.7% in RevPAR to €55.62, reporting the largest increase in that metric, followed by Gothenburg, with a 52.5% increase to €53.40. Three markets experienced RevPAR decreases: Manchester (down 3.6% to €43.47), Budapest (down 3.4% to €20.72) and Cardiff (down 1.3% to €30.66).