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STR Global posts February 2009 results for Europe
 

26 March 2009 9:54 AM
HNN Newswire

 

HENDERSONVILLE, Tennessee and LONDON—The European hotel industry reported mixed year-over-year results when reported in U.S. dollars, euros and British pounds for February 2009, according to data compiled by STR Global.

Figures for occupancy, average daily rate and revenue per available room ranged from double-digit losses to single-digit gains, depending on the market and the currency used for comparison.

Year-over-year February 2009 figures for Europe (U.S. dollars, euros and British pounds):

Year-over-year February 2009 figures for Europe (U.S. dollars, euros and British pounds):
  Europe % change
Occupancy 55.3% -10.1%
ADR (U.S. dollars) $119.07 -25.1%
ADR (euros) €93.80 -10.3%
ADR (British pounds) £83.51 +4.4%
RevPAR (U.S. dollars) $65.80 -32.6%
RevPar (euros) €51.84 -19.3%
RevPAR (British pounds) £46.16 -6.1%
Source: STR Global

Key year-over-year market performers include (all currency figures are in euros):

• Cologne, Austria, was the only key market to increase in all three key metrics: occupancy (+1.3 percent to 66.4 percent); ADR (+16.8 percent to EUR103.05); and RevPAR (+18.3 percent to EUR68.42).
• Along with Cologne, two other key markets reported increases in occupancy: Malmo/Lund, Sweden (+3.0 percent to 62.9 percent) and Glasgow, Scotland (+0.8 percent to 67.5 percent).
• Three key markets decreased in occupancy by more than 20 percent: Prague, Czech Republic (-33.0 percent to 35.6 percent); Budapest, Hungary (-28.9 percent to 35.1 percent); and Lisbon, Portugal (-21.4 percent to 41.5 percent).
• Key markets reporting increases in ADR include: Cologne (+16.8 percent to EUR103.05); Geneva, Switzerland (+9.0 percent to EUR211.06); and Vienna, Austria (+6.3 percent to EUR105.05).
• Düsseldorf, Germany, and Moscow, Russia, reported the largest declines in ADR, which were down 26.3 percent to EUR87.41 and down 25.8 percent to EUR186.91, respectively.
• Six key markets reported RevPAR decreases of less than 10 percent: Berlin, Germany (-9.8 percent to EUR51.13); Frankfurt, Germany (-9.6 percent to EUR75.37); Vienna (-8.6 percent to EUR49.54); Munich, Germany (-8.2 percent to EUR56.74); Geneva (-6.1 percent to EUR120.43); and Hamburg, Germany (-2.4 percent to EUR60.50).

Performances of key countries in February (all monetary units in local currency):
Country Occupancy % change ADR % change RevPAR % change
Germany 55.2% -7.4% EUR85.44 -0.7% EUR47.15 -8.1%
Italy 46.2% -13.0% EUR115.70 -10.8% EUR53.50 -22.4%
Russia 43.2% -22.8% RUB7163.63 -5.0% RUB3091.25 -26.7%
Spain 52.1% -16.2% EUR88.96 -6.4% EUR46.31 -21.5%
United Kingdom 64.7% -6.4% GBP77.13 -4.7% GBP49.90 -10.7%
*percentages are increases/decreases for February 2009 vs. February 2008


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