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.