Europe’s hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR.
Euro constant currency, November 2019 vs. November 2018
- Occupancy: +1.5% to 72.2%
- Average daily rate (ADR): +1.9% to EUR106.71
- Revenue per available room (RevPAR): +3.4% to EUR77.08
Market Focus, Local Currency
- Occupancy: +21.4% to 54.9%
- Average daily rate (ADR): -6.2% to AZN167.04
- Revenue per available room (RevPAR): +13.8% to AZN91.71
The absolute occupancy level is the highest for a November in Baku since 2008. STR analysts attribute a 21.5% jump in demand to multiple events: the CASPINDEXPO Industry Exhibition (6-8 November), the United World Wrestling World Championship (8-9 November) and the Azerbaijan vs. Wales UEFA Euro 2020 Qualifier match (16 November). Double-digit increases in both occupancy and RevPAR occurred during the time period of all three events.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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