EMEA hotel performance for February 2019

Europe’s hotel industry reported positive results in the three key performance metrics during February 2019, according to data from STR.

Euro constant currency, February 2019 vs. February 2018

Europe 

• Occupancy: +0.1% to 65.0%
• Average daily rate (ADR): +1.9% to EUR100.60
• Revenue per available room (RevPAR): +2.0% to EUR65.34

Local currency, February 2019 vs. February 2018

Edinburgh, Scotland

• Occupancy: -1.8% to 70.1%
• ADR: -10.7% to GBP74.40
• RevPAR: -12.3% to GBP52.18

STR analysts note that although performance was down year over year, the absolute levels in the metrics were well above February averages for the market. Supply (+6.2%) outgrew solid demand (+4.2%) and pressured both occupancy and ADR. 

Saint Petersburg, Russia

• Occupancy: +6.7% to 45.5%
• ADR: +2.6% to RUB4,128.27
• RevPAR: +9.5% to RUB1,877.22

The absolute RevPAR level was the highest for any February in STR’s database. Strong demand growth (+6.5%), helped by the final stages of the St. Petersburg Open early in the month, and mostly flat supply (-0.2%) factored into overall positive performance in the market. 

Middle East and Africa hotel performance
Hotels in the Middle East reported mixed February 2019 performance results, while hotels in Africa posted growth across the three key performance metrics, according to data from STR.

U.S. dollar constant currency, February 2019 vs. February 2018

Middle East

• Occupancy: +3.3% to 72.2%
• Average daily rate (ADR): -6.3% to US$150.13
• Revenue per available room (RevPAR): -3.3% to US$108.38

Africa

• Occupancy: +2.2% to 61.9%
• Average daily rate (ADR): +4.3% to US$117.42
• Revenue per available room (RevPAR): +6.6% to US$72.67

Local currency, February 2019 vs. February 2018

Beirut

• Occupancy: +4.6% 55.7%
• ADR: +8.3% to LBP224,190.36
• RevPAR: +13.3% to LBP124,819.52

The absolute RevPAR level was the highest for a February in Beirut since 2012, and the double-digit increase in the metric was the market’s fourth straight dating back to November of last year. According to STR analysts, Beirut is rebounding from the below average ADR and RevPAR levels recorded early in 2018. 

Sharm el-Sheikh, Egypt

• Occupancy: +32.5% to 47.7%
• ADR: +66.7% to EGP1,273.94
• RevPAR: +121.0% to EGP608.20

STR analysts note that Sharm el-Sheikh continues to recapture hotel demand (room nights sold) thanks to the reinstatement of flights from most airlines that had issued bans following the terror attack of late 2015. Including a 32.5% increase in February, demand has grown by double digits in the market for 21 of 26 months since the beginning of 2017. Subsequently, hoteliers have been able to push room rates. The market’s absolute ADR value was its highest for a February and the second-highest for any month all-time behind only August 2018.

Tags:STR