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Analysis

Hotel prices skyrocket during 51st Paris Air Show

The 2015 edition of the International Exhibition of Aeronautics and Space has not been without consequences on the hotel performances in Ile-de-France. The biennial event held between June 15th and June 21st allowed the average price to skyrocket in the area, as shown by the data published by MKG Hospitality.

The 51st Paris Air Show attracted more than 2,300 exhibitors from 48 countries that came to meet some 351,000 people between June 15 and June 21, 2015. Incidentally, the event organizers talk of another "record edition" in terms of attendance, reporting a 11% increase in the number of visitors compared to 2013. This increase in attendance was sharper during the three days that are open to the general public (June 19-21) during which nearly 200,000 people came to admire the latest aeronautical innovations, 13.6% more than the previous edition. The number of professionals was also 8.6% higher than in 2013, with 151,000 visitors this year.

If the flow of visitors who traveled to Ile-de-France for the Paris Air Show did not have a major impact on hotels' occupancy rates, it brought a new takeoff in the average daily rates. Capitalizing on the organization of the biennial show, hoteliers have indeed been able to increase their rates, up 14.2% compared to the same week in 2014 (without Air Show), with a peak at 282 euros during the second day of the show. The rise in the average price has enabled the Revenue per available room (RevPAR) in Paris hotels to grow by 9.2% over the seven days of the fair.



Paris hotels’ RevPAR for the 51st Paris Air Show
June 15-21, 2015





Data collected daily show the rapid takeoff and then midweek fall of hotel performances, matching the departure of the professional visitors -who are those staying in hotels. Once they are gone, local attendance does not affect so much the hotel business in the area.

This year, professionals still seem to have made early departures, as performance levels began their descent from June 17th. It also corresponds to the disruptions that occurred in the capital's transportation system with bus and taxi strikes. This shortening of professional stays probably explains the slight slowdown in the hotel activity compared to the previous edition-which was had broken all past records- and despite the increase in general attendance of the fair, both among the professional and general public. Over the five days of the event, RevPAR is actually 0.6% lower than in 2013, but matching the record-breaking levels of the 50th edition is actually rather good.

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