Stat: Amsterdam Hotel Profits Up 15 Percent

June was a good month for hotels in Amsterdam and Hamburg, according to new data from the HotStats European Chain Hotels Market Review - June 2015. Gross Operating Profit per available room (GOPPAR) at hotels in Amsterdam and Hamburg surged by 15 percent and 14.2 percent, respectively. Hamburg and Rome led the way in growth in average room rate (ARR) versus June 2014, with Istanbul showing a notable decline:


Occupancy in the Dutch capital shot up by 6.5 percentage points to 90.2 percent and ARR increased by 1.5 percent, while revenue per available room (RevPAR) grew by 9.4 percent. Similar performances were registered in non-rooms departments and total revenue per available room (TRevPAR) rose by 9.5 percent to €230.59. Astute operating cost control and a payroll decline of 1.8 percentage points resulted in departmental operating profit per available room (DOPPAR) surging by 13.2 percent and GOPPAR by 15.0 percent to €107.28.

Hamburg hoteliers also forged ahead in June and recorded an 8.2 percent hike in RevPAR as a result of a 1.1 percentage point increase in occupancy combine with a 6.8 percent growth in ARR to €147.40. This ARR growth was most notably fuelled by a 34.5 percent increase in the tours/groups segment rate. Mixed performances were recorded in non-rooms revenues, which softened TRevPAR levels to a growth of 7.7 percent to €180.29. A flat performance in payroll costs ultimately helped to deliver a GOPPAR uplift of 14.2 percent to €70.95. 

In June, Rome hoteliers increased ARR by 10.0 percent, but occupancy went down marginally (0.9 percentage points), which combined to result in a RevPAR uplift of 8.9% to €212.00. Apart from occupancy Rome registered positive year-on-year comparisons across all key performance indicators for the month though a decrease in meeting room hire revenue per available room of 2.9 percent softened the TRevPAR growth of 7.8 percent to €309.31. Despite overheads per available room climbing by 11.3 percent there was a GOPPAR increase of 11.0 percent to €116.95.
Hotels in Warsaw also experienced a slight decrease in occupancy (0.1 percentage points) in the month of June. A 5.3 percent increase in ARR coupled with the 0.1 percentage point decrease in occupancy led to a 5.2 percent increase in RevPAR to €90.21. A 0.6 percentage point decrease in payroll also contributed to a DOPPAR and GOPPAR uplift of 3.8 percent to €91.80 and 3.3% to €63.45 respectively.

Hotels in Istanbul experienced challenging conditions in the month  of  June and reported negative year-on-year comparisons across all key performance indicators. A 1.3 percentage point drop in occupancy combined with an 11.1 percent decline in ARR led to a 12.8 percent RevPAR decrease. Mixed performances were recorded in ancillary departments and TRevPAR levels dropped by 11.5 percent to €151.83. With payroll going up by 4.5 percentage points, DOPPAR fell by 16.5 percent to €94.93. Additionally, despite a slight decrease in overheads per available room of 0.6 percent, Istanbul hotels’ GOPPAR declined by 25.2 percent compared to the same period last year.

Source: HotStats European Chain Hotels Market Review - June 2015