STR: Good news for St. Petersburg, bad for Edinburgh

Edinburgh
Compared to February 2018, Edinburgh experienced decreases in occupancy, ADR and RevPAR this past month. Photo credit: iStock / Getty Images Plus / bnoragitt

Europe showed year-over-year growth in occupancy, ADR and RevPAR this February, according to data from STR. Statistics show occupancy rose by 0.1 percent to 65 percent, ADR increased by 1.9 percent to EUR100.60 and RevPAR grew by 2 percent to EUR65.34.

STR’s data indicated particularly strong growth in St. Petersburg, Russia. Occupancy there rose 6.7 percent to 45.5 percent, ADR was up 2.6 percent to RUB4,128.27 and RevPAR grew by 9.5 percent to RUB1,877.22. STR attributed the increases to the St. Petersburg Open, which held its final stages in early February, and a generally level supply (-0.2 percent).

With supply growing faster than demand, however—6.2 percent growth compared to 4.2 percent—all three metrics fell in Edinburgh, Scotland. Occupancy shrank by 1.8 percent to 70.1 percent, ADR decreased by 10.7 percent to GBP74.40 and RevPAR fell by 12.3 percent to GBP52.18. STR also noted the city’s absolute levels ranked above February averages for the market.

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While metrics grew overall in February, they did not rise nearly as much as they did from January 2018 to January 2019. A month earlier, STR reported Europe was showing a 1.2 percent increase in occupancy, a 3.9 percent rise in ADR and a 5.2 percent jump in RevPAR. Across the board, increases were more than twice as large in January as they were in February.

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