Compared to August 2014, European hotel results saw a 2.2% increase in occupancy to 77.1%, a 6.4% increase in ADR to €119.34 and an 8.7% increase in RevPAR to €92.05
Belgium reported increases in the three key performance metrics: occupancy (+1.0% to 71.7%), ADR (+5.4% to EUR80.26) and RevPAR (+6.4% to EUR57.57). Year-to-date demand growth (+3.8%) in Belgium has outpaced supply (+0.5%). According to STR Global analysts, demand in the country is expanding beyond Brussels to cities such as Ghent, Bruges and Antwerp. In addition, heavy investments have been made in the country’s hotel industry based on attractive yields and healthy hotel performance.
France experienced a 1.0% increase in occupancy to 73.2%, a 3.2% rise in ADR to EUR179.65 and a 4.2% increase in RevPAR to EUR131.43. August was the third consecutive month in which demand (+1.7%) outperformed supply (+0.6%) in France. After a slow start to the year, the country’s year-to-date occupancy, ADR and RevPAR have all moved into positive growth figures.
Greece saw a 0.8% dip in occupancy to 74.7% but double-digit growth in ADR (+13.7% to EUR163.50) and RevPAR (+12.8% to EUR122.05). According to STR Global analysts, Greece experienced strong ADR performance in both July and August as a result of positive developments with the third European bailout in the country. Greece’s hotel performance did not plummet as some expected this summer as a majority of trips to the country were booked well in advance and were not subject to refund.
Occupancy in Turkey decreased 3.0% to 72.9%, but the country posted double-digit increases in ADR (+19.1% to TRY435.01) and RevPAR (+15.5% to TRY316.94). Year-to-date demand growth (+5.8%) has outpaced supply growth (+2.5%) in the country. According to STR Global analysts, a consistent increase of overnight tourist arrivals over the last several years has contributed to enhanced hotel performance in Turkey.
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