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Signs Of Stabilization Despite Deep Declines In European Hotel Performance
By Michael B. Baker
MAY 29, 2009 --
The European hotel industry in April saw double-digit percentage drops in occupancy, average daily rate and revenue per available room, although the numbers also could indicate that the industry is stabilizing, according to data released on Thursday by Smith Travel Research.
For the continent overall, occupancy dropped year-over-year by 13.8 percent to the level of 59.4 percent. Average daily rate, measured in euros, was down 14.7 percent, and RevPAR was down 26.5 percent. STR global managing director James Chappell, however, expected the results to be worse because of the Easter holidays.
"Italy and Spain reported similar RevPAR declines as in March, which is a good sign of possible stabilization," Chappell said in a statement. "Other countries like Belgium, Germany, the Netherlands and the United Kingdom, however, report higher declines this month as expected."
On the country level, Russia reported the biggest drops, with occupancy down 20.8 percent, rates down 19.5 percent and RevPAR down 36.2 percent. Germany was close behind, with a 17.4 percent drop in occupancy, a 14.9 percent drop in average daily rate and a nearly 30 percent drop in RevPAR.
Düsseldorf, Germany, saw huge drops across all metrics. Occupancy was down by 31.8 percent, rates down 46.5 percent and RevPAR down 63.5 percent. Besides Düsseldorf, six cities saw RevPAR drop more than 40 percent: Geneva, which also saw the largest drop in occupancy for the region; Moscow, where rates decreased by 38 percent; Frankfurt, Germany; Oslo, Norway; Gothenburg, Sweden; and Stockholm, Sweden.
A few European markets bucked the trends. Edinburgh, Scotland, had a 7.3 percent increase in occupancy. Salzburg, Austria, was the only market in Europe to see an increase in RevPAR, and the city also saw rates increase by almost 30 percent.
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