October 2024: European Hotel Market Trends Show Stability and Growth Amid Challenges

• The European hotel market experienced moderate growth with overall stability in October 2024, particularly in Southern Europe and major cities. 
• The upscale segment outperformed other categories, attracting high-value travelers and showcasing robust growth.

According to HSMAI Europe, the European hotel market in October 2024 displayed overall stability and moderate growth across various segments. The global occupancy rates improved slightly to 74.3%, marking a 1.0-point increase compared to the previous year. However, the Average Daily Rate (ADR) saw a minor decline of 1.0%, settling at €132.7. Despite this, the Revenue Per Available Room (RevPAR) experienced a marginal year-on-year growth of 0.4%, reaching €98.6, indicating a steady demand.

The industry faced particular challenges in the budget segment, with occupancy rates dropping 1.0 points to 67.2% compared to 2023. The ADR in this category also showed a significant decline of 6.5% from the previous year. Following a similar downward trend, RevPAR decreased by 7.9% in 2023 and 2.1% in 2022, underlining ongoing strug