Paris hotels reached 2019 profitability level in March

LONDON—Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable, according to STR’s March 2022 P&L data release.

After two consecutive months with negative levels, due largely to the impacts of the omicron variant, Paris posted a March GOPPAR of US$117.26.

Also reporting significant month-over-month improvement, London posted a March GOPPAR of US$90.82. That level was 87% of the pre-pandemic comparable after the market had reached just 38% using the same comparison in February. Amsterdam’s GOPPAR was 68% of the 2019 comparable, up from -31% in February. In addition, both London and Amsterdam saw their highest GOPPAR levels since December 2019.

While improved, Berlin’s GOPPAR remained in negative territory for a third straight month. Moscow was the only key market in Europe to show lower profitability from the prior month.  

Industry stakeholders interested in Monthly P&L participation should contact MonthlyPnL@STR.com. Those interested in subscribing to reports should contact their account manager or info@STR.com.

Key profitability metrics:
TRevPAR - Total revenue per available room

GOPPAR - Gross operating profit per available room

EBITDA - Earnings before interest, income tax, depreciation, and amortization

LPAR - Total labor costs per available room

About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

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