STR: Europe hotel performance for November 2019
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
- 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
- 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.
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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. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
STR’s sample comprises 67,000 hotels and 9.0 million hotel rooms around the globe. Contact firstname.lastname@example.org for additional market data.