UEFA Euro 2020 Impact on Hotel Performance

UEFA Euro 2020 Impact on Hotel Performance



Euro 2020 meant an influx of visitors and a subsequent impact on hotel performance, especially for smaller markets.

Opening of EURO2020 games at Wembley Stadium - Unsplash @thedolapo

Opening of EURO2020 games at Wembley Stadium

Excerpt from STR

There’s nothing quite like an international football tournament and the wave of excitement that takes over cities as fans flock to the stadiums of the host nations. During UEFA Euro 2020, that party atmosphere was for the first time extend to 12 different host markets, albeit with some limitations due to the pandemic. Regardless, Euro 2020 meant an influx of visitors and a subsequent impact on hotel performance, especially for smaller markets.
 
During the 2 July quarterfinal match between Switzerland and Spain, occupancy in Saint Petersburg hit a high of 54.9%. Occupancy the day before and after the match also surpassed 50%. ADR came in at RUB13,186.74 on match night, which was well above the levels recorded on 1 July (RUB11,777.15) and 3 July (RUB9,722.78).

Also on 2 July, Munich registered an occupancy level of 42.6% during the quarterfinal between Belgium and Italy. That was the market’s highest daily occupancy of 2021. Munich’s match night ADR (EUR118.67) was its second highest of this year.

On 3 July, Rome hosted the quarterfinal between Ukraine and England. On that same day, the market saw its highest occupancy level of 2021. Rome’s 3 July ADR came in at EUR182.07, which was higher than 4 July (EUR166.83) but slightly below 2 July (EUR184.46).

Baku hosted the fourth semifinal between Czech Republic and Denmark. However, the market didn’t see a huge difference between the day prior to and the day of the match (38.4% and 38.7%, respectively). Unlike other host markets, Baku saw a higher ADR level the day before the match than the match day, AZN432.37 and AZN410.79, respectively.

Occupancy improvement was more even pronounced on the day before the final, a Saturday, at 58.7%. Occupancy then dipped to 51.6% the day of the final (11 July). ADR was also higher the day before the final on 10 July (GBP126.55), which was the highest in the market this year. For comparison, the day of the final, London posted an ADR of GBP114.21.

London hosted both the semifinals and the final match. Italy’s victory over Spain on 6 July helped occupancy reach 47.8%, however, it was England’s 2-1 defeat of Denmark on 7 July that had the most noticeable effect during the semifinals as London hotels reported 50.6% occupancy, ADR of GBP113.19 and RevPAR of GBP57.29.

Occupancy improvement was more even pronounced on the day before the final, a Saturday, at 58.7%. Occupancy then dipped to 51.6% the day of the final (11 July). ADR was also higher the day before the final on 10 July (GBP126.55), which was the highest in the market this year. For comparison, the day of the final, London posted an ADR of GBP114.21.

Click here to read complete article at STR.

Logos, product and company names mentioned are the property of their respective owners.

© 2021 Hotel News Resource



Source link

Similar Articles

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertismentspot_img

Instagram

Most Popular