Europe’s hotel industry reported positive results in the three key performance metrics during 2019, led by growth in rate.
Tel Aviv and Saint Petersburg recorded strong results, with occupancy at its highest level for a decade in the Russian city.
According to data from STR, Europe saw occupancy growth of 0.4 percentage points to reach 72.2%, with ADR up 1.8% to €113.36 and revpar increasing by 2.2% to €81.90.
The absolute occupancy level was the highest of the decade in Saint Petersburg, while revpar increased in the market for the fifth consecutive year. The gain in occupancy was due to an 11.3% jump in demand and modest supply growth (+0.2%). According to STR analysts, ADR was lowered due to a comparison with a strong 2018 that featured the FIFA World Cup.
The absolute revpar level was the highest for any year in STR’s Tel Aviv database. According to the Israeli Ministry of Tourism, the country welcomed more than 4.55 million tourists in 2019, an 11% increase from 2018.