According to STR Global, in the 12-month period up to January, total revenues per room offered grew.
Despite the economic difficulties, just 15 of the 157 towns and destinations tracked in Europe reported decreasing demand. rental cars
STR Global, one of the organizers of the Berlin International Hotel Investment Forum, commented on the present and future successes of hotels in the key European markets. "Our data demonstrate the relatively limited new supply and solid demand growth of European hotel markets in 2011," stated Elizabeth Randall, STR Global's managing director.
With the exception of Vilnius and Istanbul, RevPAR growth markets were mainly driven by occupancy increase in the 12 months to January. Vilnius experienced an increase in occupancy of 15.6% and an increase of 15.9% in ADR compared to LIL199.33. Istanbul ADR has grown by 30,8% (TRY 367,09), but it was also the only top performing sector in which occupancy decreased by 4,2% (70,0%) with more supply on the market (+4,3%).
Yekaterinburg, Russia, one of the most successful markets, had its RevPAR increase in the January 12-month period by 21.3% to 38.0%. RevPAR development in Reykjavik, Iceland has led to an increased occupancy of (+21.6 percent) and recovery in 2011 from the ash cloud, which interrupted most air traffic in April and May 2010.
In both the United Kingdom, new supply in Preston (+11.1%) and Hull (+4.4%) resulted in a 2-digit decrease of RevPAR output in the lowest ten destinations of Europe. ADR in Preston decreased to £47,11 (-5,5%) and in Hull to £44,60 (-9,3%) in the 12 months running up to January.
The other markets that witnessed a decline in RevPAR save for three were all attributable to reduced occupancy and pricing. The occupancy and ADR decreased only in Bradford, Essen and Cardiff, resulting in RevPAR decreased.
The demand in Essen decreased in the 12 months prior to January (-9.1 percent ). At the same period, ADR climbed by 3.6% (€96.89), which reduced the Essen RevPAR by 5.8%. Cardiff and Bradford both witnessed an increase in occupancy of 3.1 percent and 0.6 percent, but failed to achieve a gain in ADR, leading to a decrease of RevPAR.
"Our revised 2012 forecast has been downward adjusted in 39 European markets because of the present market conditions," stated Randall. "Nonetheless, we estimate demand to grow in 2012 in Berlin (5.0%), London (4.0%) and Vienna (3.9%) as well as another 27 European cities.