These are the highlights of the transition from February to March, the International Agricultural Show (Salon de l'Agriculture in French) and Fashion Week are highly anticipated every year in Paris. While a large number of visitors are expected, have hoteliers been able to attract them?
Launched by Emmanuel Macron's visit at its opening, the International Agricultural Show took place from February 24 to March 4, 2018. Fashion Week (Women) took place from February 26 to March 6, 2018. They were held during the same weeks down to a day the previous year.
Taking these two events into account, hotel activity for the period from 26/03 to 06/03 resulted in a 3.09% decline in RevPAR due to a 1.87 point decrease in occupancy rate reaching 64.75% and a slight 0.29% drop in average prices in Paris and its inner suburbs.
The events did not offer the manna usually expected for the Parisian hotel industry, as the RevPAR is in sharp decline: -18.38% (26/02), -15.65% (27/02), -17.96% (28/02), -9.97% (01/03). These results are explained jointly by a drop in indicators, particularly the occupancy rate, which experienced a double-digit drop from February 26 to 28.
Better figures could have been expected given the attendance at this 55th edition of the International Agricultural Show: figures were up 8.64% with 672,570 visitors according to Le Figaro; this suggests that the event attracted mainly a local population.
From March 2 onward, the hotel industry resumed its recovery, recording double-digit increases in RevPAR from 02/03 to 06/03, which may be explained by positive figures for both occupancy rates and average daily rates.
End of the week fashion shows by Chanel, Miu Miu and Louis Vuitton surely drew visitors.
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