STR Global Posts 2011 Results for European Region

The European hotel industry posted positive results in year-over-year metrics when reported in U.S. dollars, euros and British pounds for 2011, according to data compiled by STR Global.

Year-over-year, 2011 figures for Europe (U.S. dollars, euros and British pounds):

Source: STR Global

“2011 was overall a good year for European hoteliers”, said Elizabeth Randall, managing director of STR Global. “Europe saw occupancy and average room rate increases across all months of 2011, with August being the exception. August reported a slight ADR decline (-1 percent), which proved not to be a turning point in performance. Recent months, as well as December’s performance, still showed modest but in line with the usual expected performance increases, compared to the prior year. The outlook for 2012 is less certain, as the economic expectations have weakened throughout the later half and worries about the Euro-zone continue. Our latest Market Forecast, released in November, predicts to see positive RevPAR growth across 21 cities out of 34 European cities which we forecast”.

Highlights from key market performers for 2011 include (year-over-year comparisons, all currency in euros):

• Venice, Italy, reported the only double-digit occupancy increase, rising 13.8 percent to 68.1 percent.
• Malmo, Sweden, fell 7.0 percent in occupancy to 59.0 percent, posting the largest decrease in that metric, followed by Istanbul, Turkey, with a 4.0-percent decrease to 70.1 percent.
• Venice reported the largest growth in ADR, rising 13.1 percent to EUR275.13, followed by Paris, France (+12.5 percent to EUR237.04), and Zurich, Switzerland (+11.7 percent to EUR196.78).
• Cardiff, U.K. (-8.1 percent to EUR64.57) and Birmingham, U.K. (-7.8 percent to EUR62.10) reported the largest ADR decreases for the year.
• Venice jumped 28.6 percent in RevPAR to EUR187.35, achieving the largest increase in that metric, followed by Florence, Italy (+15.0 percent to EUR91.95), and Paris (+14.3 percent to EUR187.20).
• Birmingham reported the largest RevPAR decrease for 2011, falling 7.6 percent to EUR42.36. 

Performances of key countries in 2011 (all monetary units in local currency):

*percentages are increases/decreases for 2011 vs. 2010

In December 2011 the region increased 2.2 percent in occupancy to 53.9 percent, rose 1.2 percent in ADR to EUR95.76, and was up 3.5 percent in RevPAR to EUR51.63.

About STR Global:

STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information.  Hotel operators can join the surveys on a complimentary basis and benefit from free industry data.  STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.

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