COVID-19 webinar summary: 5 key points on France hotel performance, 3 December
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 France.
Much brighter picture
While vaccination rates have improved since the beginning of the year, it wasn’t until the third quarter that main cities in France started to see signs of recovery.
Over the last three months, cities in the country approached their 2019 comparables with Marseille, Lyon and Nantes recovering more than 90% of 2019 occupancy levels.
Paris: ADR recovery
Driven mainly by Luxury hotels, Paris posted ADR of EUR291.16 for the week ending with 21 November. For comparison, Île-de-France, Pari’s region, showed an ADR of EUR114.33.
While looking at the capital’s submarkets, Champs-Élysées’ ADR (EUR595.01) posted the highest ADR when looking at the same week. On the other side of the spectrum, Paris Charles de Gaulle Airport ADR of EUR101.41 was the lowest.
Weekdays, hello old friend
Although “conference season” didn’t approach 2019 highs, weekday ADR in France’s key markets continues to climb week over week.
For the week ending with 14 November, weekday ADR in Paris was 117.1% of 2019 levels. For comparison, during that same week, Lyon area recovered 96.2% of the 2019 comparable.
But…what about weekends?
Weekend ADR has also strongly improved in recent months. For the week ending with 14 November, Paris and Lyon posted ADR levels that were 126.2% and 109.4% of their 2019 comparables, respectively.
A brighter future for Paris
As we slowly approach Christmas, Europe’s markets are showing an increase in bookings, according to STR’s Forward STAR. Paris showed the highest occupancy on the books for the next 90 days as of 22 November. As of that update, market’s occupancy on the books was at almost 70% for the end of November and 65% for the end of December. However, booking windows remains short due to ongoing travel restrictions and restriction changes in each country.
Occupancy-on-the-books intelligence will help us all understand recovery and provide much-needed context. Those insights can be accessed for free when you submit your data. If you are interested, please email [email protected].
For further insights into COVID-19’s impact on global hotel performance, visit our content hub.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
