European Hotel Industry Reports Growth Across All Performance Metrics for Q1 2018
Ireland performance growth continues across the country – Russia registers strong demand and overall performance – Turkey recovery continues with best first quarter on record
Europe’s hotel industry reported increases across the three key performance metrics during Q1 2018, according to data from STR.
Euro constant currency, Q1 2018 vs. Q1 2017
• Occupancy: +2.2% to 64.5%
• Average daily rate (ADR): +2.6% to EUR100.61
• Revenue per available room (RevPAR): +4.8% to EUR64.89
Local currency, Q1 2018 vs. Q1 2017
• Occupancy: +3.4% to 67.6%
• ADR: +6.2% to EUR113.67
• RevPAR: +9.7% to EUR76.79
The absolute levels in the key performance metrics were each the highest for a Q1 in STR’s Ireland database. STR analysts note that performance is strong across the country, not just in the always popular Dublin, where RevPAR increased 7.8%. Continuing to help Ireland’s performance is a lack of meaningful supply growth.
• Occupancy: +6.1% to 53.5%
• ADR: +0.6% to RUB4,942.27
• RevPAR: +6.7% to RUB2,645.49
While supply growth remained steady in the country, demand grew at a high rate (+7.9%) for the second consecutive Q1 in Russia.
• Occupancy: +24.0% to 63.7%
• ADR: +27.9% to TRY282.55
• RevPAR: +58.5% to TRY180.06
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.