Hotel performances are starting to follow a clearly positive pattern in most host cities of the UEFA European Championship 2016.
According to Georges Panayotis, CEO Hospitality ON, "the magic of football is starting to take place. It is already the case in several regional capitals, and the tournament schedule - not to mention the many games organized in Paris and Saint-Denis in the knockout phase - let us hope that the capital could soon be bouncing back as well."
Performance of Parisian hotels are suffering from security threats, a shifted Ramadan scheduling, the absence of the Air Show this year, and from the many visitors favoring alternative accommodation platforms such as Airbnb. Georges Panayotis "considers that the market share lost by hoteliers to the advantage of these services has had a significant impact, approximating a 10-point loss in occupancy rate." Despite negative results in the capital these past few months following the November 13 attacks, a slackening can be observed since the beginning of the UEFA European Championship 2016. Paris is waiting for the many fans scattered all around the country, as they could trigger recovering performances while making their way back to the French capital. On the whole, there are still clear skies on the horizon for the French hospitality industry.
Change in Revenue per Available Room (RevPAR) in host cities from June 10 to June 22, 2016
* performances are compared to the same period the previous year; Friday 10, June 2016 is compared to Friday 12, June 2015; Saturday 11, June 2016 to Saturday 13, June 2015, etc.
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