STR: Europe sees Q2 growth in occupancy, rate and revenue

Paris and France are seeing a return to normality in the hotel industry
In Paris, occupancy fell 0.7 percent to 81.3 percent while ADR grew 5.8 percent to €240.09. Photo credit: iStock / Getty Images Plus / encrier

Europe’s hotel industry reported positive results in the three key performance metrics during the second quarter, according to the latest data from STR.

Year over year, occupancy across Europe improved 0.7 percent to 75.6 percent. Average daily rate grew 3.4 percent to €118.16, while revenue per available room went up 4.1 percent to €89.31.

In Paris, occupancy fell 0.7 percent to 81.3 percent while ADR grew 5.8 percent to €240.09, and RevPAR rose 5.1 percent to €195.17. 

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 (June 17-23) and the FIFA Women’s World Cup as seven matches were played at the Parc des Princes during the month, STR noted.

In Istanbul, occupancy grew 8.7 percent to 72 percent while ADR improved 40.4 percent to TRY602.53 and RevPAR went up 52.7 percent to TRY434.06.

The absolute ADR and RevPAR levels were the highest for any second quarter in STR’s Istanbul database. Performance levels were driven by a double-digit rise in demand, up 12.4 percent, according to the report. 

STR analysts said the market continues to show impressive signs of recovery after terrorist attacks in 2016 lowered performance levels.