Thanks to Les Grandes Idées, Jean-Marc Palhon, Chairman of EXTENDAM, was interviewed by Christophe Palierse for Les Echos.
🗣️ “The farther you move from the centre, the fiercer the competition. Hotels try to fill rooms by lowering prices. This leads to segment competition: 4-star hotels chase 3-star clients, who in turn chase 2-star customers. The gap with Paris is also huge, as the capital is currently outperforming,” he notes.
Based on MKG data covering the first 24 days of October, the average occupancy rate in the capital reached nearly 90%, increasing compared with 2023 and 2024. This comes with higher ADR (almost €271, up more than 4%) and RevPAR.
“With supply so scarce and expensive, Paris is now the most expensive city in Europe. The price per key reaches €600,000. London follows at €400,000 per room. Other capitals lag far behind, ranging from €150,000 to €300,000 for Rome, Madrid or Brussels,” says Jean-Marc Palhon.