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Athens and Hamburg Post Promising Results in September 2014
September was generally a good month for hotels in Europe, and that is particularly true for hotels in Athens and Hamburg. They managed to achieve impressive year-on-year growth of GOPPAR (gross operating profit) of 71.0% and 44.5% respectively.
The Greek capital experienced growth of all main figures in September. Demand added 12.2% and average room rate (ARR) added 13.3%, helping revenue per available room (RevPAR) add tremendous 33.0%. Growth was registered in all departments, including nonroom ones. This helped departmental operating profit (DOPPAR) increase by 35.5%, and GOPPAR grew by 71.0% to 84.90 euro.
Hotels in Hamburg also enjoyed first month of autumn. The growth of RevPAR estimated 25.1% thanks to the growth of occupancy of 2.7% combined with significant growth of ARR of 21.2%. The growth has become possible thanks to significantly more leisure tourists who visited Hamburg in September. Extra revenues were reached in all nonroom revenue categories, such as food and beverage sales (+4.7% and 15.3% respectively). DOPPAR and GOPPAR added 29.9% and 44.5% respectively.
Other famous European destinations couldn’t reach such promising results. For example, hotels in Amsterdam and Frankfurt had a challenging month and reported negative results compared to September 2013. Gross operating profit in Amsterdam hotels decreased by 11.7%, and Frankfurt hotels posted the decline of 9.4%. The occupancy was falling throughout the month for the two capitals, and even declines in ARR couldn’t save the situation.
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