ΔΙΕΘΝΗΣ ΕΛΛΗΝΙΚΗ ΗΛΕΚΤΡΟΝΙΚΗ ΕΦΗΜΕΡΙΔΑ ΠΟΙΚΙΛΗΣ ΥΛΗΣ - ΕΔΡΑ: ΑΘΗΝΑ

Ει βούλει καλώς ακούειν, μάθε καλώς λέγειν, μαθών δε καλώς λέγειν, πειρώ καλώς πράττειν, και ούτω καρπώση το καλώς ακούειν. (Επίκτητος)

(Αν θέλεις να σε επαινούν, μάθε πρώτα να λες καλά λόγια, και αφού μάθεις να λες καλά λόγια, να κάνεις καλές πράξεις, και τότε θα ακούς καλά λόγια για εσένα).

Τρίτη 29 Οκτωβρίου 2019

European hotels: Rough 2019 gives way to profit burst




Αποτέλεσμα εικόνας για European hotels: Rough 2019 gives way to profit burst


Profit per available room grew year-on-year in Mainland Europe hotels in September and for the second time in 2019. After three consecutive months of YOY declines, GOPPAR registered a 3.9% increase compared to the same month last year.

With a boost of 2.4% YOY, average rate marked its highest growth since December 2018. Hotel occupancy was also on the rise, recording a 0.7 percentage-point YOY increase. As a result, rooms revenue achieved a 3.4% YOY lift on a per-available-room basis.

Other revenue centers were not able to replicate the success of the Rooms department. F&B revenue per available room recorded its fourth consecutive month of YOY decline in September 2019 with a drop of 0.6%. This was also the case for Conference and Banqueting revenue per available room, which was down 2.2% compared to the same month last year. Despite these setbacks, TRevPAR increased by 2.5% YOY led by rooms revenue growth.

Hotel labor costs continued to expand, reaching a 0.8% YOY increase in September. Overheads grew by 2.08% YOY and are YTD 2019 2.6% ahead of the same period last year. Profit conversion in Mainland Europe was recorded at 44.5% of total revenue.



Profit & Loss Key Performance Indicators – Mainland Europe (in EUR)

KPI September 2019 v. September 2018
RevPAR +3.4% to €154.53
TRevPAR +2.5% to €222.34
Payroll +0.8% to €60.69
GOPPAR +3.9% to €98.91


Hotels in Barcelona recorded double-digit YOY growth in profit per available room for the second consecutive month in September. GOPPAR in the city grew by 31.4% compared to the same month last year, marking a very strong finish for the third quarter.

September was a record-breaking month for Barcelona: While average rate (up 16.8% YOY) recorded its highest year-over-year increase in the last 24 months, RevPAR (up 22.3% YOY) registered its greatest YOY expansion since December 2018. Occupancy achieved a 3.8-percentage-point YOY lift.

Top-line performance was also strong in other revenue centres, with increases in F&B revenue (up 19.2%) and Conference and Banqueting revenue (up 15.4%), on a per-available-room basis. As a result, September 2019 TRevPAR was 17.4% ahead of the same period last year.

Expenses were no exception to this upwards trend: labour costs per available room increased by 5.9% YOY and overheads did so by 6.9%. Nonetheless, profit conversion in Barcelona was recorded at a healthy 52.2% of total revenue.



Profit & Loss Key Performance Indicators – Barcelona (in EUR)

KPI September 2019 v. September 2018
RevPAR +22.3% to €234.47
TRevPAR +17.4% to €348.16
Payroll +5.9% to €79.28
GOPPAR +31.4% to €181.81


Dusseldorf hotels proved in September that increases in rooms revenue do not automatically translate into enhanced profits, as GOPPAR in the city suffered a 14.1% YOY decline in the face of RevPAR growth. After three consecutive months of negative variance, September YTD 2019 GOPPAR fell 9.0% behind the same period last year.

Elevated occupancy (up 0.2 percentage points YOY) and average rate (up 2.3% YOY) led to a 2.5% YOY increase in RevPAR. However, this was not enough to counter the 10.5% YOY drop in ancillary revenues, which resulted in a 2.1% YOY TRevPAR drop.

Hotels in Dusseldorf managed a small improvement in labour costs in September, which were down 0.6% YOY. But this was not the case with all expenses, as overheads expanded by 3.4% YOY. Profit conversion in the city was recorded at 28.7%.



Profit & Loss Key Performance Indicators – Dusseldorf (in EUR)

KPI September 2019 v. September 2018
RevPAR +2.5% to €123.10
TRevPAR -2.1% to €181.80
Payroll -0.6% to €59.86
GOPPAR -14.1% to €52.14