During August Europe’s Hotel Industry Reported Its Best Performance Levels Since February

Canal in Amsterdam, Netherlands - Photo by Jace & Afsoon on Unsplash
Occupancy and RevPAR were the highest for any month in the Netherlands since February.

Europe hotels reported occupancy fell 44.6% to 43% in August. ADR dipped 13% to €103.95 ($121.37) and RevPAR decreased 51.8% to €44.69 ($52.18) for the month.

Europe’s hotel industry reported its best performance levels since February, according to August 2020 data from STR.

Euro constant currency, August 2020 vs. August 2019

• Occupancy: -44.6% to 43.0%
• Average daily rate (ADR): -13.0% to EUR103.95
• Revenue per available room (RevPAR): -51.8% to EUR44.69

The absolute occupancy and RevPAR levels were up significantly from July but remained the lowest for any August on record in Europe. Each of the metrics were the highest for the continent since February.

Local currency, August 2020 vs. August 2019

Germany

• Occupancy: -40.9% to 42.7%
• ADR: -4.5% to EUR86.37
• RevPAR: -43.5% to EUR36.92

The absolute occupancy and RevPAR levels are the highest in Germany since February but remained the lowest for any August on record in the country.

Netherlands

• Occupancy: -47.0% to 43.7%
• ADR: -22.1% to EUR87.01
• RevPAR: -58.7% to EUR38.00

ADR came in lower than July, but occupancy and RevPAR were the highest for any month in the country since February.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.