Key European Hotel Markets Show Improved Profitability But Remain Below Pre-Pandemic Levels

Europe’s key hotel markets are showing improved profitability but remain below pre-COVID-19 pandemic levels, according to hotel industry market data firm STR.

A statement published STR’s website said, “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.”

 

Positive Growth
The statement added, “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 reached as high as 98% of its comparable 2019 level back in May, led the major European markets with GOPPAR of US$44.87 (78% of 2019 comparable).

“Berlin, which had been at -12% of its 2019 GOPPAR in July, returned to a positive level of US$12.60 in August.

“London showed slow and steady improvement over the summer months but remained at just 23% of 2019 GOPPAR in August at US$27.78.”
 

 

Original article by Conor Farrelly on hospitalityireland.com

Stay up to date

Latest News

  • Retention of 9% VAT rate “crucial” to tourism industry
    Retention of 9% VAT rate “crucial” to tourism industry

    Dublin’s Ashling Hotel has welcomed the Government announcement that the 9% VAT rate will be retained for a further six…

    7 March, 2023

  • Kilkenny’s Newpark Hotel Welcomes New General Management Team
    Kilkenny’s Newpark Hotel Welcomes New General Management Team

    Kilkenny’s Newpark Hotel has announced the appointment of a new general management team to acheive its ‘ambitious future goals.’   The strategic…

    4 August, 2023

  • Mark Scott-Lennon Discusses Working At Fitzpatrick Castle Hotel
    Mark Scott-Lennon Discusses Working At Fitzpatrick Castle Hotel

    Mark Scott-Lennon is the managing director of the luxurious Fitzpatrick Castle Hotel, situated in a gorgeous eighteenth-century castle near Dalkey…

    4 August, 2023

  • Mark Dunne Explains Mount Juliet and SETU Work Placement Programme
    Mark Dunne Explains Mount Juliet and SETU Work Placement Programme

    In an industry where skilled roles are hard to fill, Mount Juliet Estate and South-East Technological University (SETU) have just confirmed an exciting partnership…

    4 August, 2023

  • Diageo Ireland Launches Tailors Bar At Dublin Airport
    Diageo Ireland Launches Tailors Bar At Dublin Airport

    Diageo has launched Tailors Bar, a cocktail and spirit venue, in Terminal 2 at Dublin Airport.   Details Tailors Bar…

    4 August, 2023

  • Andy Ferreira Discusses Cork Cocktail Bar Paladar
    Andy Ferreira Discusses Cork Cocktail Bar Paladar

    Paladar, in Cork – a Latin American-inspired cocktail bar and kitchen with a rotating menu of classic and signature cocktails…

    4 August, 2023

  • Dublin’s F.X. Buckley Named World’s Sixth Best Steak Restaurant
    Dublin’s F.X. Buckley Named World’s Sixth Best Steak Restaurant

    F.X. Buckley in Dublin has been named the sixth best steak restaurant in the world on the 2023 World’s 101…

    4 August, 2023

We use cookies in order to give you the best possible experience on our website. By continuing to use this site, you agree to our use of cookies.
Accept
Reject