According to 2022 data from hotel industry market data company STR, the average daily rate (ADR) and revenue per available room (RevPAR) were up in Europe last year, compared to pre-pandemic 2019.
In a statement published on its website, STR noted that occupancy in Europe was 64.6% in 2022, which was 10.5% less than it was in 2019, while ADR was US$148.97, which was 18.5% more than it was in 2019, and RevPAR was US$96.25, which was 6.1% more than it was in 2019.
The statement published on STR’s website, revealing the aforementioned figures, also showed that ADR and RevPAR were up, compared to 2019, in Australia and Oceania, the Middle East, Africa, North America and South America, while ADR and RevPAR were down, compared to 2019, in Asia. Occupancy was down, compared to 2019, in all regions.
STR Managing Director’s Statement
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The statement published on STR’s website, revealing the aforementioned information, quoted its managing director, Robin Rossmann, as saying, “While most global regions were impacted by Omicron in early 2022, top-line performance recovery made big waves in the latter half of the year. The industry’s resilience has been underpinned by significant pent-up leisure travel over the summer, along with the return of corporate demand, as the nature and length of this business travel has evolved. Unlike previous downturns, room rates have been the key driver of recovery, as each of the global regions, excluding Asia, showed an ADR increase over 2019. Though occupancy came in below the pre-pandemic comparables, the metric is anticipated to stabilise throughout 2023. Despite economic headwinds, the industry is operating from a position of strength in the new year.”
Read More: Only One World Region Showed Increase In Overall Hotel Pipeline Activity At End Of Q4, Notes STR
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