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The European hotel industry reported expectedly poor year-to-date results for March 2009, according to data compiled by STR Global. “European RevPAR fell 14 percent year-on-year, split between declines in both average daily rate (ADR) and occupancy”, said James Chappell, managing director of STR Global. Northern Europe fared better than Southern or Eastern Europe with only a 14.3-percent decrease in RevPAR, driven by falling rates. Dublin’s RevPAR dropped 27.2 percent due to a fall in occupancy of 12.4 percent and ADR, which declined by 17 percent.
“What shouldn’t be forgotten is that the first eight months of 2008 were very strong, so year-on-year comparisons are by definition exaggerated. The reverse may well be true towards the end of the year, and comparative results may start to stabilise from September onwards”, pointed out Chappell. Dublin’s weekly occupancy and average room rate for seven weeks ending 11 April 2009
As expected the fall in occupancy in the early part of the year has been followed more recently by a decline in rate as hoteliers attempt to stimulate demand. Rates in Dublin fell consistently in the six weeks leading up to 11 April 2009. Occupancy held up more steadily and the average occupancy of 57 percent over the same period is an improvement on earlier in the year.
Dublin’s weekly RevPAR percent change for seven weeks ending 11 April 2009.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
