Italy leads the growth in revpar in europe in february
Hotels in Italy experienced growth of revenue per available room (RevPar) from 10.4 percent in February, leading the rise in Europe, according to the monthly report of STR Global.
Hotels in United Kingdom, with an increase of 6.8% and Germany with 5.8% followed in increase in profitability. However, in Spain the rise was very shy, 0.1% and Russia maintained its tendency to crash, with a fall of 13.6%.
In the whole of Europe RevPar rose by 9.2%, up to 64,58 euros, while occupation rose by 3.1%, to 62.6%, and the average daily rate (ADR) rose 5.9%, in 103,19 euros.
As explained by the general director of STR Global, Elizabeth Winkle, Northern Europe continues to dominate the region with growth of double digit both ADR and RevPar, led by United Kingdom behavior. It also emphasizes the good behavior of Western Europe while the South recorded a slight growth of the ADR, of 1.1% and Eastern Europe suffered a decline of double digit in both indicators. The conflict between Russia and Ukraine, the sanctions and the decline in the price of the gas are negatively impacting the region.
Five markets recorded a double-digit growth in the occupation, led by Vilnius, in Lithuania, where rose 21.5%, followed by Warsaw, with 17.5%. Moscow registered the largest decline, by 5.7%.
Manchester won the largest increase of the ADR, 24.9%. However, Barcelona recorded the greatest drop, a 29.6%, followed by Moscow, with a collapse of 28.4%. Both cities also led the RevPar falls, a 33.3% the first and a 32.5% the second.
Four markets raised the RevPar above 20%, led by Vilnius, with 38.5% and Manchester, with 31.8%.