Slide 1: European Hotel Performance Update
European Hotel Performance Update Pandox Earnings Call 26th October 2023 All information is provided “as is” and only as of the date referenced and may change. While the information is believed to be accurate, neither CoStar Group nor STR guarantees that it is free from error, omission or misstateme
Slide 2: 70% of all rooms in Europe were sold YTD September 2023
70% of all rooms in Europe were sold YTD September 2023 Occupancy (Std), September YTD 2023 and YTD % change to 2019 Europe North America Mainland China 70% 64% -4% 64% -4% -2% Middle East Northern Africa Central America Asia (excl. Mainland China) 65% 60% 66% 61% 1% -8% -3% 8% Australia & Oceania 5
Slide 3: ADR is fully recovered & growing but remember inflation
On the other hand ADR is fully recovered & growing but remember inflation! ADR (USD & CC), September YTD 2023 and YTD % change to 2019 Europe North America Mainland China 157 158 27% 69 19% 4% Middle East Northern Africa Central America Asia (excl. Mainland China) 159 121 125 159 14% 19% 80% 22% Aus
Slide 4: Overall occupancy is slowing, ADR is still growing
Overall occupancy is slowing, ADR is still growing Europe*, KPI % change YoY, Jan 2023 – Sep 2023 90% 85% 80% 70% 60% 50% 52% 40% 34% 30% 25% 20% 18% 15% 10% 7% 9% 6% 0% Jan 23 Feb 23 Mar 23 Apr 23 May 23 Jun 23 Jul 23 Aug-23 Sep-23 *Excluding Turkey Source: STR. © 2023 CoStar Group 4
Slide 5: Mid-week business nights still with scope for further recovery
Mid-week business nights still with scope for further recovery Europe*, Occupancy Indexed to 2019, September 2023 YTD 2019 Index 100% 95% 90% 85% 80% Sun Mon Tue Wed Thu Fri Sat *Excluding Turkey Source: STR. © 2023 CoStar Group 5
Slide 6: Group demand still 15% below 2019 levels
Group demand still 15% below 2019 levels Europe*, demand % chg. To 2019, October 2022 – September 2023 Group demand Transient demand 15% 10% 5% 0% -5% -10% -15% -20% -25% -30% Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 *Excluding Turkey Source: STR. © 2023 Co
Slide 7: Germany & CEE Europe are further from recovery
Germany & CEE Europe are further from recovery European markets, Occ (Std), indexed to 2019, September YTD 2023 Under 80 80 - 89 90 – 99 100+ Source: STR. © 2023 CoStar Group 7
Slide 8: As occupancy growth recovery slows, so too does ADR
As occupancy growth recovery slows, so too does ADR Europe*, YOY ADR % change, October 2022 – September 2023 ADR % Chg CPI % Chg. 30% 25% 20% 15% 10% 5% 0% okt-22 nov-22 dec-22 jan-23 feb-23 mar-23 apr-23 maj-23 jun-23 jul-23 aug-23 sep-23 *Excluding Turkey Source: STR. © 2023 CoStar Group 8
Slide 9: Relative to 2019, Real ADR is well ahead of 2019 levels
.. but relative to 2019, Real ADR is well ahead of 2019 levels Europe*, ADR indexed to 2019, Oct 2022 – Sep 2023 Real ADR Index (EU 27 HICP) Nominal ADR Index 136 129 130 130 127 122 120 120 124 116 115 119 105 108 109 113 108 105 99 103 96 99 100 104 okt-22 nov-22 dec-22 jan-23 feb-23 mar-23 apr-23
Slide 10: Long lead times have enabled exceptional ADR growth on leisure nights
Long lead times have enabled exceptional ADR growth on leisure nights Europe*, ADR Indexed to 2019, September 2023 YTD 2019 Index 135% 130% 125% 120% 115% Sun Mon Tue Wed Thu Fri Sat *Excluding Turkey Source: STR. © 2023 CoStar Group 10
Slide 11: Europe with a full house of ADR recovery & growth
Europe with a full house of ADR recovery & growth European markets, ADR (LC), indexed to 2019, September YTD 2023 Under 80 80 - 89 (EUR) 90 – 99 100+ Source: STR. © 2023 CoStar Group 11
Slide 12: Looking back to 2008, ADR growth is still tracking behind CPI
Looking back to 2008, ADR growth is still tracking behind CPI Europe*, Nominal ADR R12 and CPI (EU 27 HICP), Indexed to 2007, Jan 2008 – Sep 2023 CPI indexed ADR R12 indexed 150 140 130 120 110 100 90 80 70 60 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 *Excluding
Slide 13: Business on the Books sold and stronger than STLY
Business on the Books sold and stronger than STLY Occupancy on the books, percentage point change for next 90 days vs. STLY as of 16 Oct 2023 Edinburgh +5 London Amsterdam +1 +8 Dublin 0 +1 Berlin Brussels +5 +5 Budapest Paris +1 +9 Zurich Rome +6 +7 Madrid -7 Istanbul Lisbon +3 Source: STR. © 2023
Slide 14: Luxury performance slowing but still stellar vs. 2022
Luxury performance slowing but still stellar vs. 2022 Europe*, KPI % chg. YoY, YTD Aug 2023 Occupancy ADR RevPAR 25% 23% 20% 21% 20% 20% 17% 15% 15% 10% 5% 0% Luxury Class Upper Upscale Class Upscale Class Upper Midscale Class Midscale Class Economy Class *Excluding Turkey Source: STR. © 2023 CoStar
Slide 15: Thank you.
Thank you. Robin Rossmann Managing Director rrossmann@str.com Source: 2023 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Group. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. Any such reproduction sha