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COVID-19 pandemic: A year later, hotel industry recalibrates, reassesses

Europe Still Trails

As the U.S. shakes off its doldrums on the back of a wide distribution of vaccines, Europe is trying to do the same now, and the European Union’s decision to allow fully vaccinated Americans back in is a good first step.

March, however, was a month its hotel industry would soon like to forget. GOPPAR remained stuck in negative territory at €-8.45. Europe, in fact, hasn’t recorded positive GOPPAR since the anemic €0.81 it achieved in September 2020.

With overall occupancy still falling below 20%, rooms revenue continued to lag with RevPAR down 58% versus the same time a year ago. TRevPAR was similarly depressed, also down 58% versus the same time a year ago. The shortage in revenue was complemented by a still-constant decrease in overall expenses, but not enough to push out a positive GOPPAR. Though total labor costs were down 53.3% on a per-available-room basis, they were up 6.8 percentage points as a percentage of total revenue, highlighting the dearth in incoming revenue.

Asia-Pacific Rolls On

Asia-Pacific moved across the 50% occupancy threshold in March, which, coupled with an average above $100, led to RevPAR that was 115% higher than at the same time a year ago.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for almost 20 years.
Harry lives in Honolulu, Hawaii and is original from Europe.
He loves to write and has been covering as the assignment editor for eTurboNews.