The hotel industries in Amsterdam, Berlin, London, Moscow, and Paris each reported improved profitability, but all remained well below pre-pandemic levels, according to recent data from STR.
August marked 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.
Image: João Marcelo Martins via Unsplash