Budapest Hotels Report September Performance Records

• Sofia experiences double-digit performance gains
• Budapest posts record performance levels

Europe hoteliers reported occupancy dipped 0.7% to 80.7% in September, but a 3.6% ADR increase to €123.09 ($140.28) boosted RevPAR €2.8% to 99.38 ($113.26).

Europe’s hotel industry reported mixed results in the three key performance metrics during September 2018, according to data from STR.

Euro constant currency, September 2018 vs. September 2017

Europe

• Occupancy: -0.7% to 80.7%
• Average daily rate (ADR): +3.6% to EUR123.09
• Revenue per available room (RevPAR): +2.8% to EUR99.38

Local currency, September 2018 vs. September 2017

Sofia, Bulgaria

• Occupancy: +6.2% to 75.3%
• ADR: +20.5% to BGN167.29
• RevPAR: +27.9% to BGN125.98

The absolute occupancy was the highest for any month in Sofia since October 2016. The ADR value was the highest for a September since 2008.

Budapest, Hungary

• Occupancy: +0.1% to 90.5%
• ADR: +14.8% to HUF33,065.71
• RevPAR: +15.0% to HUF29,938.14

The absolute ADR and RevPAR levels were the highest for any September in STR’s Budapest database. STR analysts attribute the strong performance to an increase in inbound tourism and a continued lack of supply growth in the market.

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