BofA Securities
2026-06-03
Hotels & Leisure: EU Hotels Weekly Check-in (May 17 - 23): ME and EU Lift Performance
Report Summary
BofA Global Research's weekly hotel industry report tracks RevPAR (Revenue per Available Room) trends across global markets for the week of May 17β23, 2026. Continental Europe improved to +1.5% yoy (from +0.1%), the UK strengthened to +3.1% (from +0.4%), and the US remained positive at +4.6%. China stayed negative at -1.0% post-Labor Day, while APAC ex-China softened sharply to +1.8%. The Middle East rebounded strongly to +12.2% (from -36.4%), driven by Saudi Arabia on strong religious travel. Q2-TD tracking shows IHG at +1.2%, Accor at +2.1%, and Whitbread at +0.4%, with Accor and IHG benefiting from improving Middle East and Europe data.
Key Takeaways
- Continental Europe RevPAR improved to +1.5% yoy vs. +0.1% prior week, led by France at +7.1% and Spain at +7.6%, while Germany remained weak at -5.7%.
- The UK strengthened to +3.1% RevPAR growth, with London total market at +2.8% and UK regions economy/midscale (72% of Whitbread mix) at +2.6%.
- Middle East rebounded sharply to +12.2% from -36.4%, driven by Saudi Arabia's +172.9% RevPAR growth likely on strong religious travel; UAE remains under pressure at -52.3% but improving.
- IHG Q2-TD tracking at +1.2% with EMEAA region at -5.2% (better than company's April -7%); Accor at +2.1% supported by better Middle East and Europe data; Whitbread at +0.4%.
- US market remained resilient at +4.6% RevPAR growth, with luxury and upper upscale segments leading at +7.6% and +4.4% respectively.
Topics Covered
Hotels & Leisure
RevPAR
Hospitality Industry
European Hotels
Middle East Tourism
Revenue Management
Travel & Tourism
Companies Mentioned
IHG (InterContinental Hotels Group)
Accor
Whitbread
CoStar/STR
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