
The arrival of 150 Heads of State and their delegations has filled Paris's hotels that have been posting low occupancy for the last fifteen days. On Sunday, November 29 alone, the occupancy rate was up 6 points with respect to 2014, the occupancy rate in Paris gained more than 6 points and the average daily rate rose by some 58%. The final result in terms of RevPAR, the hotel performance indicator, is spectacular: up 77%.
Georges Panayotis, President and CEO of MKG Group, remarks: "In an unfortunately upset context, this exceptional event temporarily relieves the considerable losses of earnings accumulated over the last two weeks, not to mention cancellations of year-end travel. It's a breath of fresh air for the Paris market that is all the more welcome since it should last several days and the current situation has been particularly difficult for tourism professionals."
The positive effects of COP 21 on the hospitality and tourism industry are likely to fade and be distributed across the other segments as important leaders and delegations give way to other governments and NGOs. And yet, the United Nations Conference on Climate Change will at least have allowed Paris hotels to come up for air; it is also a positive sign to the rest of the world about the Capital's ability to guarantee the security of the delegations.
Change in daily results in Paris
from 11/9 to 11/29/2015
Also read:
- Terrorist attacks in Paris: impact on the hotel industry
- Paris attacks: Hospitality takes a hit, but is expected to stand strong
- Paris: Terrorist attacks continue to raise concern in the hotel industry
- Activity in Paris, the after shock of the terrorist attacks is dwindling
