COVID-19 webinar summary: 5 key points on France, 3 April
As STR continues its commitment to keeping the hospitality industry updated during the COVID-19 outbreak, our webinar series will provide in-depth updates on global regions. However, if you’re unable to watch the full session during this stressful period, you can find a summary of the key points below.
RevPAR drops 95% as number of cases increase
RevPAR has been decreasing as the number of COVID-19 cases increases in France. For the week ending 8 March, RevPAR declined 65% on average. RevPAR continued to fall by double digits during the following weeks, including 95% decline on average for the week ending 15 March.
Luxury Class and Upper Upscale Hotels: 10% occupancy
Luxury and Upper Upscale hotels in France have been the most affected by COVID-19, posting declines in occupancy from the week starting 9 March. Luxury and Upper Upscale hotels saw 10% occupancy for the week ending 22 March, while Upscale and Upper Midscale hotels posted 16% occupancy, and Midscale and Economy hotels saw 30% occupancy for the same week.
Île-de-France, highest occupancy despite COVID-19 case increase
Even though Île-de-France has seen the most COVID-19 cases in France, the region posted the highest occupancy in the region (+18%) for the week ending 22 March. Pays de la Loire is one of the regions most affected by COVID-19. Likewise, the decreases in occupancy are greater as virus containment measures have intensified throughout France.
Paris, steep occupancy decline due to intensified virus containment measures
After virus containment measures were intensified in France on 29 February, Paris started to see steep occupancy declines, while ADR continued flat in the market until the week ending 16 March.
Lyon vs Juventus impact
On 26 February, Lyon posted a 16% occupancy increase and a 19% ADR increase due to the UEFA Champions League football match Lyon vs Juventus. From that day on, the market has seen steep declines in occupancy and ADR.