The rebound is well underway with growth confirmed from March-April in Europe, depending on the country. The changes in RevPAR between June 2021 and October 2022, compared with the same period in 2019, show that the countries are gradually emerging from the crisis. Spain was the first country to rebound in March, followed in April by France. The situations were very different, with some countries coming out of the crisis earlier and others, such as Germany, being affected for longer.

The most interesting observation is that the countries that progressed best between April/May and October were those that had a good balance between business and leisure customers, which boosted their performance.

On the French market, for the entire period from January 2020 to October 2022, the recovery is driven by average daily rates. In the high season periods of May, July and August, average daily rates are 25% higher than in 2019 for the same periods. In some cities, this average daily rates have doubled compared to 2019. These very high prices are notably due to the return of national and European leisure customers who wanted to take advantage of the summer after two years of crisis. The euro/dollar exchange rate, which is favourable to the Americans, is also leading to the return of this clientele. The return of leisure and business groups has also allowed hoteliers to increase their prices.

There are contrasts between the different categories, with the budget segment growing the fastest compared to the other segments. The upscale segment has had the most scope to increase its RevPAR. The impact of leisure periods is also visible on performance, with school holidays or bridging in May. Comparing the periods of RevPAR growth between weekdays and weekends, it appears that growth was driven by the return of leisure...