Europe’s hotel industry reported positive results in the three key performance metrics during November, according to STR.
Across the continent, occupancy grew 1.7 percent to 71.8 percent year-over-year, average daily rate (ADR) improved 4 percent to €105.84 and revenue per available room (RevPAR) increased 5.8 percent to €75.99.
Select cities also had robust performance. In Istanbul, occupancy increased 4.2 percent to 69 percent year-over-year. ADR grew 47 percent to TRY468.34, while RevPAR increased 53.2 percent to TRY323.24.
The absolute ADR level was the highest for any November in STR’s Istanbul database. STR analysts attribute the jump in the metric to Turkey’s currency crisis of the last few months—October produced the country’s highest inflation rate in 15 years.
Demand (room nights sold) also has helped push performance and Turkey is expected to reach almost 39 million visitors by year's end, according to the World Travel & Tourism Council.
Vienna also had a good month, with occupancy up 12.8 percent to 82.9 percent, an ADR increase of 12.1 percent to €101.07 and RevPAR up 26.4 percent to €83.78.
The occupancy level was the highest for any November on record in Vienna. STR analysts noted performance was helped by a host of November events: European Utility Week 2018 (November 6-8), Energy Austria (November 5-6), the 4th European Congress on Endometriosis, and the European Congress for Homeopathy (November 22-24).