europe hotel performance
Are Concerts “Running the World?”: A Look at How Beyoncé’s Renaissance World Tour Has Impacted Europe Hotel Performance
STR | June 19, 2023
Okay, hotels, “now let’s get in formation”, because major concert tours seem to be boosting performance all around the world. In May and June 2023, the stage was Europe for Beyoncé’s Renaissance World Tour, which featured 19 shows across 14 European cities. Let’s just say that the hotel industry is likely “crazy in love” after the impact Beyoncé had on the region. Feeling the music after our recent Taylor Swift tour analysis, we took a quick look at Beyoncé’s impact on actualized performance in the U.K. and Sweden, as well as forward bookings in five active Forward STAR markets. United Kingdom Four U.K...
Healthy Outlook for Europe Hotels: Corporate Demand Recovering, Leisure Travel Remains Resilient
May 24, 2023
Analysis by: Robin Rossmann, Will Anns Europe hotel performance caused some reason for concern during the first quarter of 2023, but momentum points to healthy performance ahead for gateway cities and secondary markets thanks to recovering corporate demand as well as resilient leisure travel. Solid overall since the last wave of COVID Despite slow Q1 performance, hotels showed better yield percentage change than other forms of commercial real estate in Europe, such as office, retail and industrial space. Additionally, when expanding performance out to a 10-month view, top-line and bottom-line metrics trended well in nominal and real (inf...
Europe’s Key Hotel Markets Showed Improved Profitability in February
STR | April 6, 2023
LONDON—Europe’s key hotel markets reported month-over-month improvement in gross operating profit per available room (GOPPAR), according to STR’s February 2023 P&L data release. London’s February GOPPAR reached US$65.55, which was 83% of the pre-pandemic comparable. In January, the market reported GOPPAR at US$42.06, which was 65% of the 2019 level. Amsterdam followed with a GOPPAR of US$35.98, which was 74% of the 2019 comparable after reaching just 7% in January when using the same comparison. Berlin’s GOPPAR was 21% of the 2019 comparable, showing a significant month-over-month lift from negative levels in...
Europe Hotel Occupancy Remains Stable Amid War in Ukraine
STR | March 28, 2022
Note: As the war in Ukraine continues, the obvious concern is with the people affected by this crisis. While remaining sensitive to the situation, STR also understands its responsibility as an independent provider of trusted global data. Hotel performance updates provide added visibility into the impact of the war, economic sanctions, etc. STR will continue to monitor its global data, both historical and forward-looking, and issue updates as appropriate. Hotel performance has remained stable in most of Europe amid the war in Ukraine, and countries bordering the conflict area have seen a refugee-driven lift in occupancy. Using ...
Europe’s Key Hotel Markets Show Improved Profitability but Remain Well Below Pre-Pandemic Levels
STR | October 4, 2021
LONDON — October 4, 2021 — The hotel industries in Amsterdam, Berlin, London, Moscow and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR‘s August 2021 monthly P&L data release. Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding U.S.). Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR). Moscow, which had reach...
Europe’s Hotels See Values Fall by up to 15% but Longer Term Outlook Strong, Reveals HVS Report
HVS | March 31, 2021
London - March 31, 2021 - Sharp declines in revenue caused by the pandemic coupled with a more cautious approach to lending has prompted hotel valuations to fall over the past 12 months, although not as steeply as some had initially anticipated. This is the key finding of the annual European Hotel Valuation Index (HVI) compiled by global hotel consultancy HVS, which reports that in the year of the COVID-19 outbreak hotel values saw average declines of between 5% and 15% compared with the previous year. Last year followed a decade of hotel value rises across Europe, with 2019 posting an average 3% increase – with some properties in...
Around the Globe Hotel Profit Perks Up, Just Not in Europe
David Eisen | March 30, 2021
By David Eisen The U.S. hotel industry was in need of a month like February. For Europe, it was another in a string of profitability pain. In a turnaround from previous months, gross operating profit per available room (GOPPAR) in the U.S. turned positive in February and at $10.82, it was 675.5% higher than in January. Though the jump into positivity after eight of the last 10 months being negative was cause for celebration, GOPPAR in February is still 89.5% down over the same time a year ago. In step with the boost in profit was a jump in both rooms and total revenue. RevPAR was up $14 over January to $50.81, while TRevPAR increased...
5 Key Points on Europe Hotel Performance, 10 September
STR | September 15, 2020
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Europe as well as our latest forecast updates. How does Europe compare to other regions in the recovery cycle? China hit a 69.4% occupancy level on 18 August, the highest level during the time of the pandemic. Since that date, however, China has started to fall back a bit. During the first weekend of September (4-6 September), the market posted 57.6%, 57.5% and 57.9% occupancy levels, respectively. Europe saw its lowest occupancy level during the firs...
