(11 September 2022, 10:44 +07)
Several of Europes largest hotel markets, led
by Berlin, Germany, surpassed their 2019 levels in gross operating
profit per available room (GOPPAR), according to STRs July 2022
P&L data.
Berlins July GOPPAR reached US$34.32, which is
183% of the pre-pandemic comparable. In June, the market reported
GOPPAR at US$98.21, which iss 132% of the comparable 2019 level.
Bed in a Junior Suite at The Ritz-Carlton Berlin
Also reporting significant month-on-month
improvements in the region, Paris posted a July GOPPAR of
US$312.64, the markets second highest this year
behind June (US$347.08).
Other key markets, London and Amsterdam,
reported GOPPAR that was 105% of the 2019 comparable, at US$172.11
and US$97.65, respectively.
Europe hotel occupancy stands at just 10% shy of
pre-pandemic levels, and many of the markets that were vacant last
summer are now bustling with visitors, said Alex Robinson, STRs
director of industry partners. In July, London and Paris both
reported occupancy at 85%, which was almost double of what it was
the year prior. While occupancies have leapt forward, it has been
room rates that have been the key driver of recovery. Europes
July room rates were 27% higher than that of 2019, with Athens,
Edinburgh and Rome as standout performers. While concerns may
shade European economies in the medium term, European hoteliers
have been experiencing a sun-filled recovery in recent months.
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