Paris hotels reached 2019 profitability level in March

LONDON – Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable, according to STR‘s March 2022 P&L data release.

After two consecutive months with negative levels, due largely to the impacts of the omicron variant, Paris posted a March GOPPAR of US$117.26.

Also reporting significant month-over-month improvement, London posted a March GOPPAR of US$90.82. That level was 87% of the pre-pandemic comparable after the market had reached just 38% using the same comparison in February. Amsterdam’s GOPPAR was 68% of the 2019 comparable, up from -31% in February. In addition, both London and Amsterdam saw their highest GOPPAR levels since December 2019.

While improved, Berlin’s GOPPAR remained in negative territory for a third straight month. Moscow was the only key market in Europe to show lower profitability from the prior month.