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Performance of Main European Destinations
New bunch of statistics from TRI Hospitality shows the performance of hotels in London, Paris and Amsterdam was rather unsuccessful in October. Both gross operating profit per available room (GOPPAR) and total revenue per available room (TRevPAR) featured decreases.
Hotels in Paris show the biggest decline in performance – here GOPPAR dropped by 10.6%. Even though occupancy increased by 2.1%, the rates fell by 6.4%, causing the drop in TRevPAR of 4.3%.
Amsterdam accommodations showed a steady growth during this year, but October was rather unsuccessful. GOPPAR level dropped by 9% in October, and RevPAR fell by 6.3%. The reason for such poor performance is in the number of nights spent in the city. Amsterdam traditionally accumulates high corporate and conference traffic, but in October the Dutch capital was less popular.
London feels better than the cities mentioned above, and so the decline of GOPPAR here estimates just 3.6%. This is the result of reduced occupancy (minus 2.1%) and lowered interest from the side of corporate segment.
However, there are also some European destinations that have improved their stats. For example, the Turkish capital, Istanbul, features the rise of GOPPAR and TRevPAR of 43.2% and 19.8% respectively. Comparing to October 2010, the level of GOPPAR has risen to 51.5%.
Hotels in Frankfurt also feature improvement in their performance. Even though the occupancy here fell by 1.5%, the average room performance is higher by 15.6% thanks to a series of large events, such as BMW Euro Marathon, Frankfurt Jazz Festival, and Frankfurt Book Fair. Finally, hotels in Dublin also show increased revenues as GOPPAR here has increased by 4.2%.
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