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October 2016: Slight drop in European hotel performances; disparities subsist

European hoteliers posted a slight drop in results this month. However, disparities remain; some market indicators are up while others post a new drop in their results. Disparities also exist in terms of market segmentation.

In October 2016, the revenue per available room (RevPAR) recorded on a European scale is down slightly by -1.8% with respect to the same period last year. This drop was brought on by a drop in occupancy rate and average daily rate by -0.1 points and -1.6% respectively. Upscale (RevPAR: -3.6%) and economy categories (RevPAR: -1.6%) are the most affected. On the other hand, the RevPAR of the midscale and super-economy categories are up respectively +1.1% and +1.6%.

October 2016: Monthly results of hotel chains by category

This month's best performances go to four countries with double-digit growth in their RevPAR over October 2015: Greece (RevPAR: +23.5% - due to average daily rates taking off by +11.6%), Hungary (RevPAR: +20.1%- improvement due to the +10.9 point increase in occupancy rate), Portugal (RevPAR: +13.9%) and Austria (RevPAR: +10.2%). Other countries reported particularly positive performances, especially the Czech Republic and the Netherlands which both show a RevPAR up by +5.0%, along with Spain (+8.2%). Finally, Germany posts a relatively stable trend (RevPAR: +1.2%).

On the other hand, compared to October 2015, some countries have experienced a degradation of their indicators, particularly Luxembourg (RevPAR: -3.2%). The situations in Great Britain (RevPAR: -3.1%) and Italy (RevPAR: -16.6%) should be qualified. Due to an exceptional events calendar in Italy in 2015 (with the Venice Biennale and the Expo Milano), the basis of comparison is somewhat deformed; by excluding the cities of Milan and Venice, the rest of Italy posts a RevPAR up by +3.5%. The situation in the United Kindom is more like that in France - where performances in the capital do not truly reflect those in the rest of the country. Outside Greater London, the RevPAR reported is up by +3.6%.

Results for Belgium and France are down once again. With the context continuing to be upset by the security situation that continues to weigh on hotel results in these two countries. The French RevPAR is down by -5.7% with respect to the same period in 2015, due to an occupancy rate down by -0.7 points and an average daily rate down by -4.8%. Belgium's RevPAR, meanwhile, fell by -16.6%; its occupancy rate is down by -9.8 points and average daily rate by -5.4%.

On the first ten months of the year, France and Belgium posted a drop in their RevPAR by -5.9% and 15.2% respectively. Austria and the United Kingdom present stable results, of +0.9% for Austria and +0.6% for Great Britain. Italy (for the afore-mentioned reasons) posts  a significant drop with a RevPAR down by -6.1% since the beginning of the year. Spain, on the other hand once again places the best among hotel chains in Europe (RevPAR up +13.0%), while Poland (RevPAR: +10.3%) and Portugal (RevPAR: +10.1%) follow the same dynamic. While other European countries may post smaller growth, it is nonetheless positive.

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