The Amsterdam hotel market has made an “astonishing recovery” in the last 12 months, according to industry analysts, with the city fast approaching pre-recession levels.
Amsterdam outshone most of its rivals in the year to March 2011, according to the latest HotStats survey of the European chain hotels market by TRI Hospitality Consulting.
The city's hotels recorded TrevPAR (Total Revenue per Available Room) of €179.64 in March, an increase of six per cent against the same month last year, while GOPPAR (Gross Operating Profit per Available Room) was up more than 11 per cent to €64.21 on March 2010.
The long-term picture is even more impressive. In the 12 months to March 2011, Amsterdam hotels increased TrevPAR and GOPPAR by 14 per cent and 33 per cent respectively.
“The Amsterdam market had made an astonishing recovery over the past year, resulting in robust increases in the TrevPAR and GOPPAR growth,” said Jonathan Langston, MD at TRI Hospitality Consulting. “Combined with an increase in the volume of commercial demand, Amsterdam hotels are now achieving GOPPAR fast approaching pre-recession levels.”
Nine of the 10 European cities surveyed achieved an increase in GOPPAR performance, with Vienna and Prague posting particularly strong growth. Meanwhile Barcelona, Brussels, Hamburg, London and Paris all registered growth in RevPAR (revenue per available room). Only Munich fell into negative territory, recording a 4.3 per cent drop in TrevPAR and a worrying 18.6 per cent dip in GOPPAR.
Langston added: “In the first quarter to 2011, there appears to be a continued positive trend, with the majority of major city markets showing improved RevPAR and GOPPAR performance.”