“Europe’s troubles can be found in the fall of average room rates”
The European hotel industry posted mixed year-over-year results when reported in U.S. dollars, euros and British pounds for May 2009, according to data compiled by STR Global.
Published: 30 Jun 2009
The European hotel industry posted mixed year-over-year results when reported in U.S. dollars, euros and British pounds for May 2009, according to data compiled by STR Global.
“Europe’s troubles can be found in the fall of average room rates”, said James Chappell, managing director of STR Global. “In U.S. dollar and euro terms, the region reports the highest drops in ADR for the month and year-to-date May compared to Asia/Pacific, the Americas and Middle East/Africa.”
“For May, of the 40 markets tracked on our European Hotel Review, only four increased their average rates in local currency terms: Frankfurt, Tel Aviv and the northern European markets of Helsinki and Malmo”, Chappell added. “The trade fairs helped Frankfurt to achieve the highest ADR increase of 22 percent for the 40 markets tracked”.
Highlights from market performers for May include (year-over-year results, all currency figures are in euros):