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October 2024: French hospitality seeks stability after the rugby effect

  • l.guillotindecorson
  • 29 November 2024
  • 3 minute read
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This article was written by HospitalityOn. Click here to read the original article

In October 2024, following the exceptional impact of the 2023 Rugby World Cup, French hospitality is striving to regain its balance. The market is stabilizing, but overall demand remains weaker than in 2023, resulting in a -5.3% decline in RevPAR. Major metropolitan areas such as Paris have experienced significant RevPAR decreases despite high occupancy rates, while some regions, such as Corsica and Grand-Est, have outperformed with positive results. Conversely, cities like Nantes and Lille, which hosted tournament matches, have seen particularly affected performances.

In October 2024, the national occupancy rate reached 70%, marking stability compared to 2023 (-0.1 point) and a slight decrease of 1.4 points compared to 2022. The average price stood at €125.8, with a more marked decrease of 5.2% compared to 2023, directly linked to the absence of the Rugby effect. However, compared to 2022, the average price rose by 2.8%, highlighting a long-term positive trend. RevPAR, meanwhile, decreased by 5.3% compared to 2023, settling at €88.1, but remained stable compared to 2022, with a slight increase of 0.9%.

Compared to September, October recorded a significant decline. The national occupancy rate fell by 4.2 points, accompanied by an 8.0% drop in average price and a 13.5% decline in RevPAR.

The overall decline in hotel performance was primarily driven by the Super-Economy and Economy segments, which were the most affected. Occupancy rates in these segments dropped by 1.1 points for the Super-Economy segment and by 0.2 points for the Economy segment, while RevPAR saw a significant decline, particularly in the Super-Economy segment, where it decreased by 7.7% compared to 2023. Although the Upscale segment also experienced a RevPAR decrease of 5.7% compared to 2023, it showed better resilience, with a stable occupancy rate of 73.9%. This performance can partly be attributed to heightened price sensitivity in the post-COVID-19 recovery context.

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Paris continues to dominate with an occupancy rate of 85.3%, up 2.4 points compared to 2023, driven by professional and cultural events such as Art Basel Paris, which attracted 65,000 visitors to the Grand Palais; Paris Games Week, with nearly 200,000 participants; the Mondial de l’Automobile; and PRODURABLE. However, RevPAR in Paris fell by 7.2% compared to 2023, reaching €205.7 due to a sharp decline in average price (-9.7%).

Île-de-France recorded a slight increase in occupancy (+0.6 points) compared to 2023, reaching 73.5%, but remains below 2022 levels (-4.2 points). Despite a moderate decline in average price (-3.6%) and RevPAR (-2.9%) year-over-year, overall performance reflects resilience, particularly due to positive price trends compared to 2022 (+2.3%). Among its departments, Val-d’Oise stood out with a significant increase in RevPAR (+10.1%) and average price (+15.7%), while Seine-et-Marne and Seine-Saint-Denis experienced moderate declines in RevPAR (-3.8%). Hauts-de-Seine and Paris also suffered sharp declines in both average price and RevPAR.

TENDANCES FRANCE – OCT 2024 par Hospitality ON

Regional occupancy rates slightly declined (-0.8 points vs. 2023) to 65.7%, with RevPAR at €64.9, down 4.8% compared to 2023 but up 6.1% compared to 2022. These overall performances were dragged down by Centre-Val de Loire, which saw a significant drop of 20.0% in RevPAR and 13.4% in average price. This decline can be attributed to exceptional performances in 2023 and an unfavorable global context in 2024 for Centre-Val de Loire (general decrease in attendance, low impact from the Olympics, unfavorable weather).

Conversely, regions such as Corsica (+2.6% in RevPAR, +1.5% in average price) and Grand-Est (+3.7% in RevPAR, +2.3% in average price) posted notable increases. Other regions, such as Normandy (-2.1% in RevPAR) and Nouvelle-Aquitaine (+0.3% in RevPAR), showed more balanced results, while Pays de la Loire also experienced a significant decline (-9.2% in RevPAR).

Cities that hosted Rugby World Cup matches, such as Nantes and Lille, were particularly affected by the normalization of event demand, showing steep declines in RevPAR compared to 2023, at -23.6% and -19.4%, respectively. Similarly, Rennes and Marseille Aix-en-Provence recorded drops of -18.1% and -16.3%.

Conversely, cities like Montpellier and Strasbourg demonstrated strong resilience, boosted by events such as the Cinemed Festival in Montpellier, dedicated to Mediterranean cinema, and the Musica Festival in Strasbourg, focused on contemporary music. Additionally, cultural exhibitions and sports events, including matches by the Racing Club de Strasbourg, contributed to their performance. Strasbourg recorded an occupancy rate of 74.25% (+1.1 points vs. 2023) with a RevPAR increase of +5.6%, while Montpellier achieved an occupancy rate of 71.56% (+3.9 points vs. 2023) and a similar RevPAR increase of 5.6%.

MKG Consulting

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  • MKG Consulting
    Paris

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