Europe’s hotel industry reported positive results in the three key performance metrics during January 2020, according to data from STR.
Budapest reported its strongest ever January in terms of revpar, while Paris saw its highest occupancy.
Europe’s hotels reported a 1.4 percentage point increase on the year, to 58.5%, while ADR was up 0.5% to €101.14 and revpar rose by 1.8% to €59.18.
In Budapest, occupancy was up 8.7% to 59.0%, with ADR up 18.1% and revpar growing by 28.4%. The absolute ADR and revpar levels were the highest for any January in STR’s Budapest database. Performance was underpinned by double-digit demand growth, up 11.5%, and the market positive ADR and revpar comparisons for all 31 days in January.
In Paris occupancy rose by 8.7 percentage points to 70.8%, with ADR up 6.4% to €206.98 and revpar building by 15.7% to €146.48.
The absolute occupancy level was the highest for any January in STR’s Paris database, while the ADR level was the highest for a January since 2013. STR analysts noted that the Francophone Pulmonology Conference (24-26 January), which attracted over 5,000 attendees, helped revpar grow by double digits during that three-day period.