Profitability at Paris
hotels increased by almost 56 per cent during August, aided in part by the 28th
World Judo Championship.
Jonathan Langston, managing director at TRI Hospitality
Consulting, which publishes the monthly HotStats survey, said Parisian hotels
benefited from an upturn in leisure and events-related sector demand in what is
typically a low demand period for most major European cities.
“The continued strong recovery in gross operating profit performance
of Paris hotels
shows why the French capital is such a desirable location for hotel operators,”
he said. “The robust year-round performance underlines Paris’s strength as one of the leading
European city hotel markets.”
As well as the 55.8 per cent growth in Gross Operating
Profit per Available Room (GOPPAR), occupancy increased to 68.9 per cent, up
2.9 percentage points from August last year, and average room rate rose by 12.1
per cent. This resulted in a 16.9 per cent increase in Revenue per Available
Room (RevPAR) performance to €127.21 (£109).
Elsewhere during August, GOPPAR performance in Amsterdam declined for the
first time in 18 months (by 24.2 per cent to €54 (£46)). A decrease in
occupancy performance of 8.5 percentage points and 4.3 per cent decline in average
room rate resulted in a RevPAR decline of 13.8 per cent to €113.95 (£97). This
was due to the impact of the quinennial Sail Amsterdam maritime event held last
August – an event which attracted 1.5 million visitors to the Dutch capital.
Pope Benedict XVI’s four-day visit to Madrid
resulted in the Spanish capital registering GOPPAR growth in what is typically
a challenging month for Madrid
hotels. Occupancy performance increased by 13.4 percentage points to 50.4 per
cent, and average room rate performance increased by 9.9 per cent to €104.81
(£90). GOPPAR performance increased to €7.85 (£6.74).
continues to register GOPPAR increases in the aftermath of the recession. In
the month of August, occupancy increased by 8 percentage points and average
room rate by 8.6 per cent, resulting in GOPPAR growth of 48 per cent.
Pictured: The 28th World Judo Championship