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November 2015: Europe's hotel industry does well overall

While the sector in some destinations felt the consequences of the attacks on November 13 and other political instability, European hotel results overall continued to follow a growth curve.

Across all destinations, Europe's hotel industry was able to make its Revenue per available room (RevPAR) progress by 3% to 58.8 euros in November 2015. This growth was driven by the 2.7% increase in average daily rate to 89.2 euros, while the occupancy rate remained similar to that in the same month in 2014. this year it reached 65.9%, versus 65.7% last year (or 0.2 points improvement). The upscale hotel industry once again acted as a growth engine resulting in 4.3% growth in its RevPAR, helped by midscale categories (RevPAR +2.1%), economy (RevPAR +1.9%) and hard budget (RevPAR +1%).

Monthly results for hotel chains by category
November 2015

The month of November was marked by the terrible attacks that hit Paris, and had direct repercussions on the hotel industry in two: France and Belgium. While the blow was softened by the opening of Cop21 in the capital at the end of the month, they led to a 2.7% drop in the RevPARs of properties in France. These events also lie at the origin of intense police operations in Brussels the last week of November, when the terrorist alert level reached its maximum. These justified security measures and the ambient threat are the cause of the 11% drop in the RevPAR in Belgium across the month. Nonetheless it is Greece that shows the strongest drop in the RevPAR, -16.1%, with the migrant crisis, negotiations with the country's creditors and general strike against austerity having impacted tourism at the destination, which nonetheless had a fine year 2015.

Within this tense context, European countries have nonetheless done well. Luxemburg's hotels (RevPAR +19.8%) continued to benefit from its European presidency and the arrivals that implies, while Spain's (+18%) benefited from the organization of several biennial exhibitions and the destination's overall appeal. Italy and the Czech Republic also closed the month with double-digit growth in their RevPAR, by 11.1% and 10.4% respectively. Finally, the prize for best growth goes to the Island of Malta, which beat records with 62.9% growth in its RevPAR, thanks to the organization of the Valette Summit on migration.

Monthly results of hotel chains by country
November 2015

These results allow the European hotel industry to maintain growth in its results observed since the beginning of the year. Between January and November, the RevPAR across continent progressed by 5.2%, thanks to 1.3 points growth in occupancy and 3.3% growth in the average daily rate. It remains to be seen how the year-end festivities will be affected by recent events and if this growth will continue in December.

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