LONDON – Europe’s hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR. Euro constant currency, November 2019 vs. November 2018 Europe Occupancy: +1.5% to 72.2% Average daily rate (ADR): +1.9% to EUR106.71 Revenue per available room (RevPAR): +3.4% to EUR77.08 Market Focus, Local currency Baku, Azerbaijan Occupancy: +21.4% to 54.9% Average daily rate (ADR): -6.2% to AZN167.04 Revenue per available room (RevPAR): +13.8% to AZN91.71 The absolute occupancy level is the highest for a November in Baku since 2008. STR analysts
LONDON – Europe’s hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR.
Euro constant currency, November 2019 vs. November 2018
Europe
- Occupancy: +1.5% to 72.2%
- Average daily rate (ADR): +1.9% to EUR106.71
- Revenue per available room (RevPAR): +3.4% to EUR77.08
Market Focus, Local currency
Baku, Azerbaijan
- Occupancy: +21.4% to 54.9%
- Average daily rate (ADR): -6.2% to AZN167.04
- Revenue per available room (RevPAR): +13.8% to AZN91.71
The absolute occupancy level is the highest for a November in Baku since 2008. STR analysts attribute a 21.5% jump in demand to multiple events: the CASPINDEXPO Industry Exhibition (6-8 November), the United World Wrestling World Championship (8-9 November) and the Azerbaijan vs. Wales UEFA Euro 2020 Qualifier match (16 November). Double-digit increases in both occupancy and RevPAR occurred during the time period of all three events.
Middle East and Africa hotel performance for November 2019
Hotels in the Middle East reported mixed November 2019 performance results, while hotels in Africa posted positive results across the three key performance metrics, according to data from STR.
U.S. dollar constant currency, November 2019 vs. November 2018
Middle East
- Occupancy: +3.4% to 72.1%
- Average daily rate (ADR): -5.9% to US$146.47
- Revenue per available room (RevPAR): -2.6% to US$105.56
Africa
- Occupancy: +0.4% to 68.1%
- Average daily rate (ADR): +0.2% to US$110.95
- Revenue per available room (RevPAR): +0.6% to US$75.60
Market Focus, Local currency
Riyadh, Saudi Arabia
- Occupancy: +34.6% to 82.8%
- ADR: +11.1% to SAR685.91
- RevPAR: +49.5% to SAR568.19
Pushed by a 55.0% increase in demand, the absolute occupancy level is the highest for a November in Riyadh since 2007. STR analysts note that Saudi Arabia has seen a positive shift in hotel performance due to Saudi Vision 2030, a plan focused on diversifying the economy from being highly oil-reliant and focusing on public sectors, such as tourism growth.
Central/South America hotel performance for November 2019
Hotels in the Central/South America region reported positive performance results during November 2019, according to data from STR.
U.S. dollar constant currency, November 2019 vs. November 2018
Central/South America
- Occupancy: +4.1% to 60.5%
- Average daily rate (ADR): +7.5% to US$90.54
- Revenue per available room (RevPAR): +11.9% to US$54.77
Note: Venezuela data was not included in this sample due to currency fluctuations in the country drastically affecting hotel performance figures for all of South America.
Local currency, November 2019 vs. November 2018
Panama City
- Occupancy: -7.3% to 47.9%
- ADR: flat at PAB86.27
- RevPAR: -7.3% to PAB41.35
The market’s November occupancy dipped below 50% for the first time in STR’s Panama City database. While supply was up a healthy 1.7%, STR analysts pin the decline in occupancy more to a 5.7% drop in demand.
Chile
- Occupancy: -29.9% to 51.4%
- ADR: +0.8% to CLP83,344.89
- RevPAR: -29.3% to CLP42,805.29
STR analysts attribute a 28.7% decrease in demand to prolonged protests in the country.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
