Paris tops Europe for New Year’s Eve hotel bookings
Buoyed by the upcoming holiday season, hotel footfall on the books is increasing in Paris with a peak of more than 70% on New Year’s Eve, according to STR’s Forward STAR.
As of December 13, Paris’s occupancy rate in the books was 71.1% as of December 31, which was the highest of the major European markets and the highest in the French capital over the following 90 days. From this high point, booking levels gradually decline to a low of 10.5% on January the 31st.
For comparison, Rome and London’s New Year’s occupancy rate is 56.1% and 52.3%, respectively, while Brussels is even lower at 34.3%.
“Some European markets have been more successful than others in recovering from the low points of the pandemic despite a massive void in international arrivals,” said Thomas Emanuel, director of STR. “With the end-of-year celebrations approaching, Paris is showing stronger hotel demand than other European capitals. Some of these capitals, such as Brussels and Vienna, continue to struggle to generate momentum due to increased restrictions in the markets. »
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STR provides premium benchmarking data, analysis and market intelligence for the global hospitality industry. Founded in 1985, STR operates in 15 countries with North American headquarters in Hendersonville, Tennessee, international headquarters in London, and Asia-Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of online commercial real estate information, analysis and marketplaces. For more information, please visit str.com and costargroup.com.