Mostly stable hotel performances take shape across Europe, with a few exceptions. Average daily rates continue to progress more rapidly than occupancy.
Europe experienced a mediocre November. Across all segments occupancy was mostly stable, achieving average growth of +0.6 percentage points. Average daily rates increased by +2.7% on average, resulting in an overall RevPAR up +3.6%.
Evolution in the budget, economy and midscale segments remained neutral, with respective change of +0.1 pt (6.1%), +0.2 pt (72.8%) and +0.9 pt (73.1%). The midscale hotel segment surpassed the benchmark +1.0% growth in OR to achieve an even better result (74.4%).
The upper and lower ranges increased their prices the most, by +3.0% (138.90€ ex-tax) and +3.1% (50.60€ ex-tax) respectively. The average daily rate (ADR) for the midscale increased +2.4% to reach 94.10€ ex-tax and economy by +1.9% to reach 73.70€ ex-tax.
The best evolution in RevPAR goes to the upscale segment: +4.4%, or 103.30€ ex-tax. At the other end, the economy segment achieved the slowest progression, although it is nonetheless positive at +2.1% (53.60€ ex-tax). The budget and midscale are positioned in between the two, with the first posting a RevPAR swelling by +3.3% (33.50€ ex-vat) and the latter by +3.7% (68.80€ ex-tax).
Thus, most countries gain market shares. Only a few exceptions persist, such as the United Kingdom (-0.2 pts) particularly because of Brexit, Belgium (-0.6 pt), Austria (-2.0 pts) and Latvia (-4.2 pts).
Three of these markets successfully boost their ADR: Belgium (+1.1%), Austria (+2.0%) and the United Kingdom (+0.9%), but only two of them achieve a positive RevPAR: Belgium (+0.3%) and UK (+0,6%).
Latvia, meanwhile saw its ADR drop (-6.8%) such that its revenue per available room fell drastically by -12.8% (biggest drop in the in the panel) to settle at 34.40€ ex-tax. Austria also experienced a drop in its RevPAR by -0.5% to 76.50€ ex-tax.
On the contrary, Hungary sur-performed this ...
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