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Europe’s key hotel markets show improved profitability but remain well below pre-pandemic levels

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Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR).

 

LONDON — The hotel industries in Amsterdam, Berlin, London, Moscow and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to STR‘s August 2021 monthly P&L data release.

Building on its launch in the U.S., STR now features monthly P&L data reporting in Europe, the Middle East, Asia Pacific, and the Americas (excluding U.S.).

Using U.S. dollar constant currency, August was the first month of the pandemic-era in which all five of these key European markets posted positive levels of gross operating profit per available room (GOPPAR). Moscow, which had reached as high as 98% of its comparable 2019 level back in May, led the major European markets with GOPPAR of US$44.87 (78% of 2019 comparable). Berlin, which had been at -12% of its 2019 GOPPAR in July returned to a positive level of US$12.60 in August. London showed slow and steady improvement over the summer months but remained at just 23% of 2019 GOPPAR in August at US$27.78.

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