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September 2016: European hotel markets volatile; results stable

Throughout Europe, the trend towards stability is increasing for hoteliers this month. Some countries continue to have good results marked by double-digit growth in their revenue per available room (RevPAR) but others observed results that were down, resulting in a contrasting picture marked by a few changes.

Globally speaking, in September 2016 European countries reported a revenue per available room (RevPAR) up slightly by 0.8% over the same period last year. The primary result is an increase in the average daily rate (1.7%) compensating for a slight drop in occupancy rate (-0.7 points). This is not consistent however: upscale and midscale categories posted results up this month, mostly due to an increase in average daily rate (up by 1.4% and 2.7% respectively). Properties on the economy and budget segment, instead, saw their RevPAR shrink by -1.3% and -0.7% respectively.

September 2016: Monthly results of hotel chains by category

In September 2016 four countries posted RevPARs showing double digit growth over September 2015: Spain (+15.1%), the Czech Republic (+14.3%), Germany (+11.1%) and Greece (+10.6%). These results may be mostly explained by an increase in their average daily rate, by 11.5% for Spain, 11.7% for the Czech Republic, and 9.5% for Germany. Greece, meanwhile, is the exception that confirms the rule: its RevPAR is driven by its occupancy rate, which is up 7.7 pts: the best results for this indicator across all European countries. Portugal also pursues this uptrend with a RevPAR up by 9.2%. The United Kingdom, meanwhile, also appears to be continuing at cruising speed (RevPAR: +2.2%), supporting the fact that Brexit does not necessarily represent a short-term threat for the tourism and hotel sector, particularly in secondary cities.

On the other hand, several countries post a new significant drop in their indicators: Luxembourg posts one of the strongest drops in terms of RevPAR (-11.9%). Other countries such as Italy (-5.4%) post a result explained once again by the full events calendar in 2015, with the World Expo in Milan and the Venice Biennale), the Netherlands (-4.4%) and Austria (-4.3%) saw their results decline compared to the same period last year. Nonetheless it is important to qualify these observations: like last month, some of these countries post improved results on the first nine months of the year. This is particularly the case for the Netherlands (RevPAR: +6.1%).

Belgium and France post a new drop in their RevPAR with respect to September 2016. Belgium’s RevPAR is down by no less than de 23.0%, accompanied by an occupancy rate down by 12.9% and an average daily rate down by 9.2%. France also experienced a drop in its results- its RevPAR is down 7.6%: the two countries continue to be affected by the context of insecurity.

Since the beginning of the year, France and Belgium saw their RevPAR drop by 5.8% and 14.8% respectively. Austria experienced relative stability in its indicators, with a RevPAR down by 0.1%. Italy observed a drop in its results, its RevPAR is down by 4.5%. At the other end of the spectrum, Spain (RevPAR +14.2%) and Poland (RevPAR: +11.5%) continue to lead in Europe while other countries post more moderate growth.

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