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February 2017: the growth dynamic continues for European hoteliers

In February 2017, hospitality professionals posted improved results across Europe. The enjoyed a benefic combination of occupancy rates and average daily rates. All the countries post an increase in arrivals, attesting to a positive structural dynamic.

Throughout Europe, hotel sector professionals post results that are up significantly, with a RevPAR (revenue per available room) up by +5.2% compared to the same period last year. This may be explained by occupancy rates up by +2.1 points and an average daily rate also up by +1.7%. All categories benefit from this improvement in results, especially the midscale range (RevPAR: +5.9%). Upscale properties also report positive figures (RevPAR: +5.4%); this segment particularly benefits from the strongest growth in terms of average daily rate (ADR: +2.2%) among the different segments. Inversely, occupancy is up at budget and economy hotels, but they have yet to regain a real growth trend in terms of prices (just +0.3% and +0.9%, respectively).

On the other hand, an increase in occupancy rate has been observed in all the countries, and across all segments. This factor attests to the structural progression of hotel occupancy throughout Europe, and the renewed appeal of certain destinations that suffered in 2016 due to the terrorist attacks. This is especially applicable to France and Belgium, where the occupancy rate is also up (+2.7 and +1.5 points, respectively).

In February 2017, with exception to Belgium and Luxembourg which are stagnating, all European countries post an increase in their results. The best growth with respect to February 2016 could be observed in:  Portugal (RevPAR: +21.8%), Greece (RevPAR: +17.8%), Hungary (RevPAR: +15.4%), the Netherlands (RevPAR: +11.6%) and Czech Republic (RevPAR: +11.2%). Spain, Poland and the United Kingdom present indicators up by +7.3%, +7.2% and 6.7% respectively. However, Germany (RevPar: +3.9%), France (+3.3%) and Austria (RevPAR: +3.1%) strengthen their indicators in a positive growth dynamic.

On the other hand, Belgian hoteliers have experienced further degradation of their performance indexes, but it is relatively moderate nonetheless. Their RevPAR is down slightly by -0.3% due to an average daily rate down by -2.6% that enabled a rebound in the occupancy rate by +1.5 points. France, Luxembourg and Austria also report average daily rates down by -1.5%, -1.4% and -0.3% respectively. French hoteliers are more generally returning to their pre-crisis standards.

On the first two months of the year, European hotel professionals present growth by +7.1% over February 2016. This may be explained by an increase in their occupancy rate by +2.9 points combined with an average daily rate up by +2.0%. The midscale segment continues to report the best results with a RevPAR up by +8.1%. Four countries post double digit growth; Greece (RevPAR: +19.3%), Portugal (+18.0%), the Czech Republic and the Netherlands (both by +10.2%). With exception to Belgium, all the countries benefit from results that are up on the first two months of the year. Properties benefit from the combined increase in occupancy rate and average daily rates.

February 2017 pursues the trajectory begun in January that was characterized by globally favorable indicators throughout the territory. Growth appears solid and certain countries, particularly those on Europe's periphery, benefit significantly. This dynamic may be explained in part by the shift of clientele away from capitals in the heart of Europe, Maghreb countries and Turkey, which are currently more exposed to security risks. Nonetheless, this generally widespread uptrend testifies to the existence of a favorable structural dynamic in Europe.

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