STR: Europe hotel performance for August 2019

Home Hotel & Lodging STR: Europe hotel performance for August 2019
STR: Europe hotel performance for August 2019
  • Tel Aviv performance reflects strong demand
  • Athens caps off strong summer season

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Europe’s hotel industry reported positive results across the three key performance metrics during August 2019, according to data from STR.

Euro constant currency, August 2019 vs. August 2018

Europe

  • Occupancy: +0.4% to 77.7%
  • Average daily rate (ADR): +1.0% to EUR118.70
  • Revenue per available room (RevPAR): +1.4% to EUR92.25

Local currency, August 2019 vs. August 2018

Tel Aviv, Israel

  • Occupancy: +7.5% to 73.9%
  • ADR: -2.6% to ILS954.83
  • RevPAR: +4.7% to ILS705.47

The absolute occupancy and RevPAR levels were the highest for an August in Tel Aviv since 2015. STR analysts note that demand (+8.8%) significantly outgrew supply (+1.2%) in year-over-year comparisons.

Athens, Greece

  • Occupancy: +10.7% to 81.4%
  • ADR: +23.4% to EUR160.22
  • RevPAR: +36.6% to EUR130.41

The absolute levels for each of the three key performance metrics were the highest for an August in Athens since 2004. STR analysts note that a rise in popularity among U.S. and Asian travelers, along with new non-stop airline routes, have helped demand in the market. Overall, the summer months in Athens have been particularly strong compared to recent years as Greece is a popular leisure destination.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.