STR: Europe hotel performance for Q2 2019
Key Q2 takeaways:
- Women’s World Cup, Air Show push Paris’ quarterly results
- Istanbul reaches record ADR and RevPAR levels
STR’s sample comprises more than 65,000 hotels and 8.8 million hotel rooms around the globe. Contact firstname.lastname@example.org for additional market data.
LONDON—Europe’s hotel industry reported positive results in the three key performance metrics during the second quarter of 2019, according to data from STR.
Euro constant currency, Q2 2019 vs. Q2 2018
- Occupancy: +0.7% to 75.6%
- Average daily rate (ADR): +3.4% to EUR118.16
- Revenue per available room (RevPAR): +4.1% to EUR89.31
Local currency, Q2 2019 vs. Q2 2018
- Occupancy: -0.7% to 81.3%
- ADR: +5.8% to EUR240.09
- RevPAR: +5.1% to EUR195.17
The absolute RevPAR level was the highest for a Q2 in Paris since 2014. June was the most impactful month of the quarter thanks to the biennial Paris Air Show (17-23 June) and the FIFA Women’s World Cup as seven matches were played at the Parc des Princes during the month.
- Occupancy: +8.7% to 72.0%
- ADR: +40.4% to TRY602.53
- RevPAR: +52.7% to TRY434.06
The absolute ADR and RevPAR levels were the highest for any Q2 in STR’s Istanbul database. Performance levels were driven by a double-digit rise in demand (+12.4%). STR analysts note that the market continues to show impressive signs of recovery after terrorist attacks in 2016 lowered performance levels.
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.