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Analyses

May 2022: the European hotel industry takes off

Summer is coming and Europe is rejoicing. After many years on a drip, the European hotel industry is finally starting to walk on her own : performance records in France (+20% RevPAR), positive figures in Southern Europe, and even countries that were previously lagging behind, such as Germany and the Netherlands, are waking up.

Public holidays, a favourable period for trade fairs and professional events, good weather... In May, nothing was missing for the European hotel industry to post a RevPAR higher than before the crisis with a growth of +5.8%. The average price, which was already higher than in 2019 recently, is now €79.6, it is to say +11.5% higher than in May 2019, and the European occupancy rate is now only 3.8 points below its pre-Covid standards.

It is in the South & Western Europe that the results are the best: France (+19.6%), Italy (+8.7%), Spain (+3.4%), the United Kingdom (+2.1%) and Greece are now showing positive levels of performance relative to 2019. Only France manages to regain or even exceed its pre-Covid attendance level (+1.3). Amongst the countries of Southern Europe, Portugal, which was a little further behind, has more or less recovered its performance (-0.4%). The return of the leisure and foreign clientele is therefore confirmed.

 
May 2022 Europe
Infogram

But the good surprise also concerns the Netherlands and Germany. Until then, both countries were still well impacted by the crisis with significant delays in performance (between -20 and -30% of RevPAR still in April), and therfore showed a delay of only -3.5% and -5.4% in May compared to May 2019. The replanning of summits and conferences in particular in Amsterdam and numerous trade fairs throughout Germany have enabled both countries to return close to normal attendance rates (<-10%) and average prices above May 2019 (+5 to 7%).

Although the delay is still considerable due to a less powerful domestic market, Austria, Belgium, Luxembourg and Switzerland are following the same trend as their dutch and german neighbours, at their own pace.

It is in the Eastern countries that performances are still the furthest from pre-Covid norms: the Czech Republic is still posting -29.2% RevPAR, while Latvia recorded a gap of -30.9% in May. Both countries are still struggling to recover their occupancy rates but also to put pressure on average prices.

With the return of international customers, all ranges performed better than in 2019: the budget range posted +11.2% RevPAR, the top range +7.7% and the economy and mid-range ranges an increase of 3 to 4%. While prices show increases relative to 2019 for all segments, only the budget one managed to surpass its pre-Covid occupation rate.

So, if the take-off is going smoothly for some, others such as France fell ten feet tall ?

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