STR: Europe hotel performance for Q1 2018
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
Europe
- 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
Ireland
- 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.
Russia
- 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.
Turkey
- Occupancy: +24.0% to 63.7%
- ADR: +27.9% to TRY282.55
- RevPAR: +58.5% to TRY180.06
STR analysts note that performance recovery continues to strengthen in Turkey thanks to continued improvement of traveler perception regarding safety in the country. In fact, the absolute levels for each of the three key performance metrics were the highest for any Q1 in STR’s Turkey database. Istanbul played a key role in the country’s overall performance with significant increases across the three key metrics: occupancy (+35.2%), ADR (+30.9%) and RevPAR (+77.0%).
