October 2024: Fluctuations in the Northwest, stability in the East and South Europe
The European hotel market in October 2024 showcased overall stability and moderate growth across various segments. Global occupancy rates improvedslightly to 74.3%, reflecting a +1.0-point increase compared to the previous year. ADR saw a slight decline of -1.0% to €132.7. RevPAR, supported by steady demand, grew marginally by +0.4% year-on-year to €98.6.
In the budget segment, challenges were evident. Occupancy dropped by 1.0 point compared to 2023 reaching the 67,2%. ADR also declined significantly by 6.5% from 2023. RevPAR followed a similar downward trend, decreasing by 7.9% from 2023 and 2.1% from 2022, reflecting ongoing struggles in this category.
The economy segment displayed stability, with occupancy increasing slightly by 0.8 points compared to 2023. ADR saw a small decline of 0.8% from 2023 but grew by 5.4% compared to 2022. RevPAR showed marginal growth of 0.3% over 2023 and a stronger 5.5% increase from 2022, indicating consistent demand and resilience in this segment.
The midscale segment recorded steady improvements in key metrics. Occupancy increased by 1.5 points from 2023. ADR declined slightly by 2.0% from 2023, while RevPAR remained stable with a 0.1% rise compared to 2023 and a solid 6.0% improvement over 2022, reflecting gradual recovery and a stable performance trajectory.
The upscale segment emerged as the strongest performer. Occupancy rose by 1.7 points compared to 2023. ADR remained relatively stable with a marginal decline of 0.2% from, while the RevPAR showed the highest growth across all segments, with a 2.1% rise over 2023 and a robust 9.8% increase from 2022, driven by the segment’s sustained appeal and ability to attract high-value travelers.
In October 2024, Europe’s hotel market showed steady recovery, driven by strong performances in Southern Europe and event-driven demand across major cities. Italy and Spain led with high occupancy rates and robust RevPAR growth. Paris excelled in occupancy but faced RevPAR challenges, while Lisbon and Barcelona recorded growth. Business hubs like London and Munich benefited from events such as the Digital Transformation EXPO, while Eastern Europe saw notable gains in Prague and Moscow. Despite some challenges in Belgium and Switzerland, the overall market reflected resilience and growing demand.
About HSMAI Europe
HSMAI – Hospitality Sales and Marketing Association International – is a global organisation founded in the US in 1927. HSMAI Region Europe is the European arm of the organisation. HSMAI Europe aims to be a key influencer, pioneer and the go-to industry resource for professional development, commercial strategies and sustainability in the hospitality, travel and tourism industry. With a strong focus on education, HSMAI has become the industry champion in identifying and communicating trends in the hospitality industry while operating as a leading voice for both hospitality and sales, marketing, and revenue management disciplines. Read More
