Did hoteliers truly take advantage of the Nice Carnival?

Between February 16 and March 2, nearly 204,000 people sat in the stands and walked around to celebrate the Nice Carnival. While event organizers announced a positive year with attendance up 35%, how about Nice's hoteliers?

Over the entire period of the event the occupancy rate increased by 0.6 point compared to last year, due to a -1.8% price decrease resulting in a slight decline in RevPAR (-0.8%).

 

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Hotel performance was divided into two phases: from 16 to 22 February, when occupancy rates decreased while the average daily rate grew, bringing the RevPAR down. Then, from February 23 to March 2 included (except February 27) when ORs rose, almost always to the benefit of the RevPAR.

In detail, Sunday, February 24 was the best day of the Nice Carnival with a +19.9% increase in RevPAR making up for the poor performances at the beginning of the event. On Sunday, February 17, Nice's hoteliers recorded their worst day ever with a drop in revenue of -11.8%.