STR: France’s daily hotel occupancy plummets to as low as 3.3%
Daily occupancy in the country was as high as 65.3% on 26 February and had been positioned above 30% through 12 March. However, a sharp downward trend began as the number of confirmed COVID-19 cases grew and the government implemented measures to combat the spread. STR’s most recent data for 17 March showed that just three of 100 rooms on average were occupied in the country.
At the market-level, Paris reached a daily occupancy peak of 84% on 17 January, during the start of Haute Couture Fashion Week. The market’s daily occupancy remained above 50% as late as 3 March, however, downward movement began on 1 March, and absolute occupancy fell 97.2% year over year to 1.8% on 17 March amid the closure of the European Union borders to most non-EU citizens.
STR continues to monitor the COVID-19 impact on global hotel industry performance. More analysis, including upcoming and recorded webinars, can be found here.
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