EXTENDAM’s latest monthly barometer highlights the remarkable vitality of the French hotel industry. The sector has surpassed its own records, including those from the historic year 2023. With a notable increase in the occupancy rate (+2 points to 64%) and a rise in the average price (+3% to €115), RevPAR has climbed to €73, an increase of +7 points. This dynamic has been observed both in Île-de-France and regionally.
“After a relatively calm start to the year, hotel performances shone brightly in March, even surpassing the previous year’s peak figures. This is partly due to the shift of school holidays to April this year,” says Vianney Lautrous, asset management coordinator of the barometer at EXTENDAM. Although April shows a slight decline, optimism is high for the coming months, particularly with the opening of reservations for the high season.
These performances also attract investors, with nearly one billion euros already invested in the first quarter of 2024, making the French hotel sector the most performant asset class.
In summary, French hotel performances in March 2024 not only reflect the sector’s vitality but also its ability to attract both travelers and investors, promising bright prospects for the future.