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KPMG’s latest study on the luxury hotel industry shows that the sector has recovered this summer and returned to its pre-Covid performance.
According to KPMG’s annual report on the luxury hotel industry, its performance during the 2022 summer period was above 2019 levels in some territories. But the sector seems to be returning to a dynamic booking outlook, regaining or even exceeding the levels recorded before the health crisis.
At the end of August 2022, the return of foreign visitors, combined with a still high level of domestic visitors, contributed to saturation in certain destinations. Indeed, in July and August, RevPAR grew by 22% compared to 2019 in France and by more than 30% in Ile-de-France and PACA. Attendance has thus returned to “pre-pandemic” levels, with hotel occupancy rates up 14 points compared to summer 2021.
Also at the end of August 2022, hoteliers benefited from a good increase in prices, which enabled them to return to their pre-crisis operating margin levels.
In the Palaces segment, the return of international customers to France in the summer of 2022 seems to be taking hold, contributing to an increase in average prices and unprecedented levels of saturation in certain destinations. In this context of catching up, 2022 looks to be much better than 2021, and even 2019 for some luxury establishments. The overall occupancy rate for French hotels, all regions combined (excluding Courchevel), increased by 21 points between 2020 and 2021, reaching 39%. However, this level remains 20 points lower than in 2019.
Outlook
The outlook for 2022 is encouraging, with an 11% increase in capital invested in the first quarter of 2022 compared to the same period in 2021, supported by the recovery in activity since the second half of 2021.
While current momentum suggests a return to 2019 trading volumes in 2022, hotel financing issues are becoming more clouded with rising interest rates and a still uncertain economic and geopolitical environment.
“The French hotel industry seems to have recovered from the Covid crisis period. The rebound observed has been ratcheted up: in the second quarter, domestic occupancy exceeded its pre-crisis level, but the international presence remains mixed. As for the 2022 summer season, the booking outlook has been dynamic, exceeding 2019 levels. This trend is also reflected in the hotel industry’s adaptation to the new post-Covid expectations of guests seeking a better quality of life, as well as through the development of more “nature” concepts and outdoor hotels,” explains Stéphane Botz, Partner at KPMG Hospitality, National Director France.
Closer to nature
The success of concepts that allow for greater immersion in nature illustrates consumers’ expectations for establishments that offer a different approach. New operators wishing to change the codes of the “traditional” outdoor hotel industry are also emerging and offering eco-responsible, environmentally connected and more intimate accommodations.
In order to adapt to new consumer trends, and in particular in response to the growing popularity and upscale nature of the outdoor hotel industry, certain players are imagining new concepts, at the crossroads of different worlds.
Read also > Study : KPMG analyzes the uncertain future of parisian palaces
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KPMG’s latest study on the luxury hotel industry shows that the sector has recovered this summer and returned to its pre-Covid performance.
According to KPMG’s annual report on the luxury hotel industry, its performance during the 2022 summer period was above 2019 levels in some territories. But the sector seems to be returning to a dynamic booking outlook, regaining or even exceeding the levels recorded before the health crisis.
At the end of August 2022, the return of foreign visitors, combined with a still high level of domestic visitors, contributed to saturation in certain destinations. Indeed, in July and August, RevPAR grew by 22% compared to 2019 in France and by more than 30% in Ile-de-France and PACA. Attendance has thus returned to “pre-pandemic” levels, with hotel occupancy rates up 14 points compared to summer 2021.
Also at the end of August 2022, hoteliers benefited from a good increase in prices, which enabled them to return to their pre-crisis operating margin levels.
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KPMG’s latest study on the luxury hotel industry shows that the sector has recovered this summer and returned to its pre-Covid performance.
According to KPMG’s annual report on the luxury hotel industry, its performance during the 2022 summer period was above 2019 levels in some territories. But the sector seems to be returning to a dynamic booking outlook, regaining or even exceeding the levels recorded before the health crisis.
At the end of August 2022, the return of foreign visitors, combined with a still high level of domestic visitors, contributed to saturation in certain destinations. Indeed, in July and August, RevPAR grew by 22% compared to 2019 in France and by more than 30% in Ile-de-France and PACA. Attendance has thus returned to “pre-pandemic” levels, with hotel occupancy rates up 14 points compared to summer 2021.
Also at the end of August 2022, hoteliers benefited from a good increase in prices, which enabled them to return to their pre-crisis operating margin levels.
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