Athens’ Hotels Record Highest Occupancy Increase in All of Europe in October

Athens, Greece, was the only city that reported double-digit hotel occupancy increase on a European level, according to data released recently by STR Global on the European hotel industry for October 2014.

More specifically, the occupancy rate of Athenian hotels last month rose by 18.2 percent to 79.6 percent, which was the largest increase in Europe.

The Greek capital’s hotels also experienced the largest revenue per available room (RevPAR) increase of 27.8 percent and reached 85.01 euros.

Following Athens, cities with RevPAR increases of more than 15.0 percent during October 2014 were: Geneva (+20.6 percent to 173.46 euros); Lisbon (+20.4 percent to 83.12 euros); Madrid (+18.3 percent to 74.87 euros); Budapest (+18.2 percent to 58.64 euros); and Manchester (+15.3 percent to 79.78 euros).

Also, seven European markets achieved average daily rate (ADR) increases of more than 10 percent: Geneva, Switzerland (+14.6 percent to 243.28 euros); Manchester, England (+12.9 percent to 94.32 euros); Lisbon, Portugal (+12 percent to 97.86 euros); Amsterdam, Netherlands (+11.1 percent to 161.27 euros); Paris, France (+10.8 percent to 295.21 euros); Budapest, Hungary (+10.4 percent to 75.37 euros); and Edinburgh, Scotland (+10.2 percent to 99.14 euros).

According to STR Global, Moscow, Russia, reported the largest ADR decrease, falling 21.7 percent to 110.89 euros. The market also experienced the largest RevPAR decrease, down 29.1 percent to 72.45 euros.

Tel Aviv, Israel, fell 24.4 percent to 64.9 percent in occupancy, posting the largest decrease in that metric.

STR Global benchmarks hotel data for over 6.4 million hotel rooms worldwide.