Christie & Co publishes report on most competitive cities in French hotel market
Specialist business property adviser, Christie & Co has published an annual report “French Hotel Market: Most Competitive Cities” for the first time, offering an insight into six of the country’s major urban destinations outside of Paris in 2018. The report highlights a positive year for tourism with all six cities achieving higher levels of arrivals than in previous years, particularly amongst international visitors.
Conducting analyses of Lyon, Marseille, Bordeaux, Lille, Nice and Nantes, the report considers their KPIs including ADR, RevPAR, occupancy levels and hotel supply and what impacts these performances. Accessibility, tourist attractions, business and corporate activity, accessibility, and development in each city are explored as the indicators for positive growth and further opportunities.
Whilst Nice leads the pack in ADR and RevPAR, with €127 and €90 respectively, Bordeaux shows the strongest occupancy rate of all the cities with 76%, and all but Marseille achieved above the national average of 69%. In 2018, all of the cities showed RevPAR increases on the previous year, apart from Lyon which remained flat, and in France overall it grew an encouraging 7.3%.
The report highlights that France is in a period of growth, recovering from a dip in the market in 2015/16 following security issues, with the 2018 KPIs reflecting this.
Soazig Drais, associate director – consultancy at Christie & Co’s Paris office, who headed up the report, comments, “Several factors contribute to rising developers’ and investors’ interest in secondary markets. Not only are they undergoing urban regeneration, including improved connectivity, but the diversification of their hotel supply increases their attractiveness to international visitors, setting a positive outlook for 2019.”
The full report is available to access here: https://bit.ly/2CczrSk
