LONDON – Taken up by the upcoming holiday season, hotel occupancy rates rise in Paris with a peak of over 70% on New Years Eve, according to STR’s Before STAR.
As of December 13, Paris’s occupancy rate stood at 71.1% for December 31, which was the highest of the major European markets and the highest for the French capital over the next 90 days. From that high point, reservation levels gradually decline to a low of 10.5% on January 31.
For comparison, the New Year’s Eve occupancy rate in Rome and London 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 of international arrivals,” said Thomas Emanuel, director of STR. “With the coming end of year celebrations, Paris is showing higher hotel demand than other European capitals. Some of these capitals, like Brussels and Vienna, continue to struggle to generate momentum due to increased restrictions in the markets. “
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STR provides benchmarking data, analysis and high-end market insights for the global hospitality industry. Founded in 1985, STR is present in 15 countries with a 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 online commercial real estate information, analysis and markets. For more information, please visit str.com and costargroup.com.
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