Irish Hotels Score 10th Consecutive Quarter of Double-Digit RevPAR Growth
Ireland's hotels recorded its 10th consecutive quarter of double-digit RevPAR growth, according to the latest data from STR.
Occupancy increased 0.6% to 89.6%, and ADR grew 13.9% to €133.04, resulting in a 14.5% lift in RevPAR to €119.22.
STR found that that September was a particularly strong month for Ireland's hotels, as there were only two days without double-digit growth in RevPAR, reports hospitalitynet.org.
Rate growth has been the driving factor for Ireland's continued upward trajectory, as ADR is up 15.4% year to date. Occupancy is up 1.7% during the same nine-month time period.
Meanwhile, hotels across Europe recorded positive Q3 2016 results when reported in euro constant currency, said STR.
Compared with the three key performance metrics from Q3 2015, Europe reported a 0.5% decrease in occupancy to 77.7%. However, a 2.0% increase in average daily rate (ADR) to €119.17 resulted in revenue per available (RevPAR) growth of 1.5% to €92.58.
Europe's results were positive when compared with September 2015. The region reported a 0.8% increase in occupancy to 81.0%, a 2.6% rise in ADR to €123.23 and 3.4% lift in RevPAR to €99.77.