Europe's hotels report overall gains for October

Four Seasons Madrid
Four Seasons Madrid. Photo credit: Four Seasons Hotels and Resorts

Europe’s hotel industry reported positive results in the three key performance metrics last month, according to data from STR.

Overall, occupancy increased 2.4 percent to 77.4 percent from October 2017 to 2018, while ADR jumped 6 percent to €116.15 and RevPAR grew 8.6 percent to €89.89. 

Despite concerns of a downturn in Spain's tourism sector, Madrid's occupancy jumped 5.6 percent to 85.7 percent year-over-year, while ADR grew an impressive 17.9 percent to €138.88. RevPAR, meanwhile, increased 24.5 percent to €119.07, and the absolute RevPAR level was the highest for any month in STR’s Madrid database. 

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

STR analysts attribute a 7.4 percent jump in demand (room nights sold) to the CPhI Worldwide pharmaceutical conference (which ran October 9-11) as well as the overall health of the market.   

In the Netherlands, Amsterdam also had a healthy month in spite of occupancy falling (-1.4 percent) to 84.9 percent year-over-year. ADR grew 3.2 percent to €158.87, while RevPAR rose 1.8 percent to €134.96. 

STR analysts attribute Amsterdam's strong performance to multiple events held in October: Helitech International (October 16-18), the Offshore Energy Exhibition & Conference (October 22-24) and the Amsterdam Dance Event (October 17-21).

Suggested Articles

Actions include reducing their environmental impact by switching to plastic alternatives, diverting construction waste, managing water usage and more.

The 176-key Hotel Hendricks will offer the most rooms of any of Fortuna Realty Group’s Manhattan hotels.

The 138-room WoodSpring Suites Orlando International Drive is a collaboration between Choice Hotels International and Pearl Eagles.