Europe’s key hotel markets show improved profitability but remain well below pre-pandemic levels
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. Latest news about Europe’s key hotel markets find out below.
Building on its launch in the U.S., STRnow 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. Europe’s key hotel markets
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., the leading provider of commercial real estate information, analytics and online marketplaces.
