Slide 1: CoStar Hospitality Analytics & Insights
CoStar Hospitality Analytics & Insights July 15th, 2026 Aoife Roche I Regional Vice President, EMEA - STR © 2026 CoStar Group 1
Slide 2: Globally, demand continues to experience an upward trajectory
Globally, demand continues to experience an upward trajectory. Global room demand change, May YTD Global Country/Region YoY% Change May 2026 YTD India 1.4% Rest of Asia China Italy Spain Canada U.S. LATAM Germany Australia Japan 1.3% Caribbean France U.K. Africa Rest of Europe Mexico GCC 2025 2026 -
Slide 3: Occupancy gains owed to muted supply change and growth in demand
Occupancy gains owed to muted supply change and growth in demand. Occupancy, actual and % chg. YoY, YTD May 2026 Europe North America Mainland China 66% 62% 1% 61% 1% Middle East 0% Northern Africa Central America Asia (excl. Mainland China) 61% 58% 69% 67% 0% -19% 1% 12% Australia & Oceania 59% 72%
Slide 4: However, as of May, the GCC has turned a corner
However, as of May, the GCC has turned a corner. GCC year over year occupancy, ADR & RevPAR % change, June 2025 to May 2026 (USD) Occ ADR RevPAR 40% 20% 0% -20% -40% -60% -80% -100% Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 © 2026 CoStar Group 4
Slide 5: Further RevPAR declines expected through Q1 2027, followed by recovery
Further RevPAR declines expected through Q1 2027.. followed by recovery. Middle East markets* year over year occupancy, ADR & RevPAR % change by quarter, Q1 2026 – Q3 2027 Occ ADR RevPAR 150% 100% 50% 0% -50% -100% Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 © 2026 CoStar Group *Aggregat
Slide 6: With occupancy gains, ADR has a platform to expand
With occupancy gains, ADR has a platform to expand. ADR, actual and % chg. YoY, YTD May 2026 Europe North America Mainland China 167 165 3% 56 2% Middle East 3% Northern Africa Central America Asia (excl. Mainland China) 164 193 138 188 14% 1% 5% -3% Australia & Oceania 131 178 176 3% 4% South Ameri
Slide 7: RevPAR growth is available 6/10 submarkets
RevPAR growth is available 6/10 submarkets. Europe, % of submarkets growing monthly RevPAR (local currency), % chg. YoY, 2008, 2025 and 2026 2008 2025 2026 80% 70% 59% 60% 50% 40% 30% 20% 10% 0% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec © 2026 CoStar Group 7
Slide 8: 2026 is emerging predominantly as a rate-driven year
2026 is emerging predominantly as a rate-driven year. YTD YTD Occ. ADR Europe, KPI (EUR, CC) % change YoY, June 2025 – May 2026 0.5% 1.7% 7% 7% 6% 5% 5% 5% 5% 5% 4% 3% 3% 3% 2% 2% 2% 2% 1% 1% 0% -1% -1% -2% Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 © 2026 Co
Slide 9: With demand growth subdued, occupancy gains are limited
With demand growth subdued, occupancy gains are limited. Occupancy, actual and % chg. YoY, YTD May 2026 Occ % chg Occ 3% 80 75% 73% 73% 2% 68% 70 67% 2% 65% 63% 64% 60% 61% 61% 60% 60% 60 1% 50 1% 40 0% 30 -1% 20 -1% -2% 10 -2% 0 CEE Italy Ireland Nordics Spain Germany Austria France United Switzerl
Slide 10: Southern Europe dominates rate performance
Southern Europe dominates rate performance. ADR (EUR, CC) % chg. YoY, YTD May 2026 12.4% 5.1% 4.8% 3.6% 3.5% 3.2% 3.0% 2.2% 2.0% 1.6% -1.4% -2.4% -3.8% -4.4% Nordics = Denmark, Finland, Iceland, Norway, Sweden © 2025 CoStar Group CEE = Bulgaria, Czech Republic, Estonia, Hungary, Lithuania, Latvia, P
Slide 11: A stronger May in the U.K.
YTD YTD A stronger May in the U.K. Occ. ADR UK, KPI, % change YoY, June 2025 – May 2026 0.2% 1.6% 7% 6% 6% 5% 4% 4% 4% 3% 3% 2% 2% 1% 1% 1% 1% 1% 1% 1% 0% -1% -2% -3% -3% -4% Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 © 2026 CoStar Group 11
Slide 12: London's pricing power is limited by the absent/cautious consumer
London’s pricing power is limited by the absent/cautious consumer. London, KPIs (GBP) % chg. YoY, YTD May 2026 Occ. 0.2% Occ ADR RevPAR 4% ADR 3% 0% 2% 1% 0% -1% -2% -3% -4% Luxury Class Upper Upscale Class Upscale Class Upper Midscale Class Midscale Class Economy Class © 2026 CoStar Group 12
Slide 13: Regionally, a slower start to the year than expected
Regionally, a slower start to the year than expected. Regional UK, occupancy % chg. YoY, Q1-Q4 2026 forecast Full year Forecast 2026 Feb forecast May forecast 1% 0.5% 0.1% 0% -1% 2026 Q1 2026 Q2 2026 Q3 2026 Q4 © 2026 CoStar Group 13
Slide 14: But rates are generally good everywhere
But rates are generally good everywhere. Regional UK, ADR % chg. YoY, Jan – Apr 2026 Jan Feb Mar Apr 5% 4% 3% 2% 1% 0% -1% Shoulder (Sun, Thu) Midweek (Mon-Wed) Weekend (Fri, Sat) © 2026 CoStar Group 14
Slide 15: Resulting in positively muted forecasts for 2026
Resulting in positively muted forecasts for 2026. Europe forecast markets, RevPAR % chg. YoY, 2026 forecast 10% 8% 6% 4% 2% 0% -2% -4% Glasgow Birmingham Leeds RegionalUK Dublin Edinburgh Gatwick London Belfast Manchester Heathrow © 2026 CoStar Group 15
Slide 16: Looking Ahead
Looking Ahead STR CS Costar
Slide 17: Mediterranean Europe set to benefit from Iran War
Mediterranean Europe set to benefit from Iran War. © 2026 CoStar Group 17
Slide 18: 2026: Southern, Eastern, and German markets lead in RevPAR growth
2026: Southern, Eastern, and German markets lead in RevPAR growth. Europe forecast markets, KPI (local currency) % chg. YoY, 2026 forecast Occ ADR RevPAR 14% 12% 10% 8% 6% 4% 2% 0% -2% -4% -6% -8% © 2026 CoStar Group 18
Slide 19: Strong summer but shoulders will struggle
Strong summer but shoulders will struggle. Europe markets*, KPI % chg. YoY, Q1 2026 – Q3 2027 Occ ADR RevPAR 6% 5% 4% 3% 2% 1% 0% -1% -2% -3% Q1 2026 Q2 2026 Q3 2026 Q4 2026 Q1 2027 Q2 2027 Q3 2027 *Aggregated performance of Amsterdam, Barcelona, Belfast, Berlin, Birmingham, Brussels, Budapest, Colo
Slide 20: Key Takeaways
Key Takeaways Demand momentum is not declining but is decelerating Supply restraint underpins occupancy stability Rates are compensating for subdued occupancy growth Luxury and leisure destinations remain as standout performers Regional divergence remains pronounced with clear signs of cautious cons
Slide 21: Thank You!
Thank You! Aoife Roche I Regional Vice President, Sales – EMEA aroche@str.com © 2026 CoStar Group 21
Slide 22: Nordic Hotel Market Data
Nordic Hotel Market Data Market data and trends from the nordic hotel industry 2026-07-15
Slide 23: Hotel Market Data Q1 and Q2 Nordics and Baltics
Hotel Market Data Q1 and Q2 Nordics and Baltics
Slide 24: Nordics and Baltics RevPAR development
- 3,8% - 4,3% Nordics and Baltics RevPAR development + 0,6% Q2 YTD vs LY (Jan – Jun) + 5,4% Q1 YTD 2026 vs LY (Jan – Mar) + 0,4% + 0,6% + 0,5% + 6,9% + 2,6% + 5,1 % + 2,1% + 1,5% + 9,2% + 5,8% + 11,7 % + 6,4%
Slide 25: Nordic and Baltic capitals RevPAR development
-5,3% -5,6% Nordic and Baltic capitals RevPAR development Q2 YTD vs LY (Jan – Jun) Q1 YTD 2026 vs LY (Jan – Mar) -2,9% -1,1% +9,7% +5,9% +0,1% +0,7% +1,9% +2,8% +2,1% +1,2% +10,0% +4,7% +14,5% +4,4%
Slide 26: Capitals development 2026 Q2 YTD
Capitals development 2026 Q2 YTD
Slide 27: Capitals development 2026 Q2 YTD
Capitals development 2026 Q2 YTD
Slide 28: Scandinavian Capitals by Segment
Hotel Market Data Scandinavian Capitals by Segment
Slide 29: Stockholm segments 2026 Q2 YTD
Stockholm segments 2026 Q2 YTD
Slide 30: Copenhagen segments 2026 Q2 YTD
Copenhagen segments 2026 Q2 YTD
Slide 31: Oslo segments 2026 Q2 YTD
Oslo segments 2026 Q2 YTD 15,0% 10,0% 5,0% 0,0% -5,0% -10,0% En 6UWG — OSL LUX ogfiPscai Av.rooms sSoldrooms =Occ. OSL MIDSCALE =ADR #RevPAR | _ OSL BUDBET
Slide 32: Helsinki segments 2026 Q2 YTD
Helsinki segments 2026 Q2 YTD
Slide 33: Weekday/Weekend pattern changes
Weekday/Weekend pattern changes Scandinavian Capitals RevPAR change% 2026 Q2 YTD vs LY Weekday Weekend
Slide 34: On The Books: Future bookings
BENCHMARK|NG ALL|ANCE On The Books Future bookings
Slide 35: On the Books – Stockholm
On the Books – Stockholm 1st of July 2026 vs LY +1,8% 7 days rolling numbers
Slide 36: On the Books – Copenhagen
On the Books – Copenhagen 1st of July 2026 vs LY 7 days rolling numbers +10,0%
Slide 37: On the Books – Oslo
On the Books – Oslo 1st of July 2026 vs LY -6,1% 7 days rolling numbers
Slide 38: On the Books – Helsinki
On the Books – Helsinki 1st of July 2026 vs LY +17,0 7 days rolling numbers
Slide 39: Thank you!
Thank you! benchmarkingalliance.com Henrik.karlsson@benchmarkingalliance.com