Published on : Monday, December 23, 2013
“Throughout the recovery, North America has steadily outperformed Europe in terms of demand growth on a 12- month rolling basis”, said Elizabeth Winkle, STR Global’s managing director. “However, in October 2013, demand growth for Europe began to outpace the demand growth of North America and this continues in November as well”.
“Europe, on a 12-month rolling basis has achieved 3.2 percent demand growth during November. In contrast, North America has achieved 2.2 percent demand growth over the same period during November, highlighting where the regions are in their respective cycles”, said Winkle.
Highlights from key market performers for November 2013 include (year-over-year comparisons, all currency in Euros):
• Three markets experienced occupancy growth of more than 15 percent: Vilnius, Lithuania (+26.5 percent to 69.6 percent); Tel Aviv, Israel (+16.4 percent to 75.1 percent); and Athens, Greece (+16.1 percent to 54.3 percent).
• Istanbul, Turkey, fell 6.4 percent in occupancy to 69.0 percent, reporting the largest decrease in that metric.
• Vilnius rose 42.1 percent in ADR to EUR70.25, achieving the largest increase in that metric, followed by Warsaw, Poland (39.4 percent to EUR100.43).
• Moscow, Russia (-12.2 percent to EUR137.46) posted the largest ADR decrease for the month.
• Four markets experienced RevPAR growth of more than 20 percent: Vilnius (+79.8 percent to EUR48.92); Warsaw (+52.3 percent to EUR78.94); Tallinn, Estonia (+26.4 percent to EUR43.67); and Copenhagen, Denmark (+20.8 percent to EUR83.32).
• Istanbul fell 13.3 percent in RevPAR to EUR90.62, reporting the largest decrease in that metric.
Source: STR Global.
Tags: Hotel News