Data from MKG Hospitality shows that the haute couture shows in the French capital proved to be a success for the upscale market as OR went above 80% and RevPAR saw a 6%-point growth.
Paris was in anti-crisis mode as the haute couture shows revealed that the luxury sector is particularly doing very well, according to data from MKG Hospitality. Overall occupancy rates (OR) were at 82.5% and 80.9% for the upscale market, at almost the same level as last year’s rates. The forecasted success of the world’s most famous fashion week allowed average daily rates (ADR) to increase by almost four percent across the board to 196.60 euros (vat included) and by 5.5% for the upscale market to 255.60 euros (vat included). Of course, RevPAR followed suit, and increased by 5.4% for all categories to 162.10 euros (vat included) and by almost six percent in the upscale sector to 206.80 euros (vat included).This high ADR defies the trend, which has seen rates decline since last December. Fashion week, along with the Maison & Objet trade show demonstrates that France’s hospitality industry is in a better situation than its neighbors during the very cold month of January, literally and economically speaking.(Pictured above: Giorgio Armani collection)
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