London breaks ADR and RevPAR records – Moscow performance skyrockets during second month of World Cup
Europe’s hotel industry reported positive results in the three key performance metrics during July 2018, according to data from STR.
Euro constant currency, July 2018 vs. July 2017
• Occupancy: +0.8% to 78.6%
• Average daily rate (ADR): +6.2% to EUR123.11
• Revenue per available room (RevPAR): +7.0% to EUR96.82
Local currency, July 2018 vs. July 2017
• Occupancy: +4.0% to 91.0%
• ADR: +4.3% to EUR170.63
• RevPAR: +8.5% to EUR155.31
The absolute ADR and RevPAR levels were the highest for any month in STR’s London database. STR analysts attribute the strong performance to an unseasonably warm summer, as well as high-impact events such as Wimbledon and London Pride.
- Occupancy: +3.6% to 78.0%
- ADR: +185.9% to RUB14,099.74
- RevPAR: +196.2% to RUB11,001.70
The absolute performance levels were each down from the previous month, but were the largest for any July on record. STR analysts note that a lack of significant supply growth ahead of the 2018 FIFA World Cup allowed for more performance growth in the market
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