The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for November 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 double-digit gains, depending on the market and the currency used for comparison…
The European hotel industry posted mixed results in year-over-year results when reported in U.S. dollars, euros and British pounds for November 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 double-digit gains, depending on the market and the currency used for comparison.
“The November results continued the trend of improved performances in most markets, even if this is mainly due to the weak comparables to 4th quarter 2008”, according to Elizabeth Randall, managing director of STR Global. “Whilst occupancies continued to fall across Europe in year-over-year comparisons, Eastern Europe remained the only European sub region with ADR declines in U.S. dollar terms reporting the lowest ADR of $116.63 (-8.9 percent) for November 2009. The sluggish performance followed the continued concerns over the economic recovery in Eastern Europe. With 11 months gone, Europe saw RevPAR decline 22.8 percent to US$81.64. Hotels in Western Europe held the top spot in RevPAR at US$89.60 and only an 18.4-percent decline compared to year-to-date November 2008. Looking ahead to 2010 we would currently expect a continued improvement in percentage change terms, however, actual performance will lack behind prior years”.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
