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STR: Europe hotel performance for Q1 2019

April 29, 2019 Hotel Trends No Comments

Europe’s hotel industry reported mostly positive results in the three key performance metrics during Q1 2019, according to data from STR.
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Euro constant currency, Q1 2019 vs. Q1 2018

Europe 

  • Occupancy: -0.2% to 63.7%
  • Average daily rate (ADR): +1.6% to EUR101.28
  • Revenue per available room (RevPAR): +1.3% to EUR64.56

Local currency, Q1 2019 vs. Q1 2018

Madrid, Spain

  • Occupancy: +2.6% to 71.1%
  • ADR: +5.7% to EUR106.79
  • RevPAR: +8.4% to EUR75.95

The absolute occupancy and RevPAR levels were the highest among first quarters with the most complete samples in STR’s Madrid database. STR analysts attribute a 4.4% rise in demand (room nights sold) to major events hosted in the market, such as Mercedes Benz Fashion Week Madrid (24-29 January), ARCOmadrid (27 February-3 March), World ATM Congress (12-13 March), Motortec Automechnika (13-16 March) and the annual match between Real Madrid and Barcelona (2 March).

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