European Luxury Hotels Bounce Back from the Bottom

According to new data from HotStats, luxury European hotels are bouncing back from the pandemic, with profit levels at a similar rate as 2019.

In MAR 2022, gross operating profit per available room (GOPPAR) reached CAD $89.43, just CAD $5.42 off of MAR 2019 levels, and 187 per cent higher than the same figure from 2021. Key European cities have seen a recent return of international demand, which has contributed to profit recovery, reports Hotel News Resource. However, performance in the future may be impacted by factors such as labour shortages, energy costs, and interruptions of the supply chain.