Each of Europe’s key hotel markets saw year-over-year improvement and their highest 2023 levels in gross operating profit per available room (GOPPAR), according to CoStar’s June 2023 P&L data release. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Among the key markets, Paris posted the highest GOPPAR level (US$420.74), which was a 105.8% increase over May. The market also reported the largest year-over-year jump (+40.8%).
London’s GOPPAR level reached $161.47, which was a 12.7% increase from June 2022 and up 35.7% month over month.
Amsterdam’s GOPPAR (US$149.59) was 4.5% higher than 2022, while Berlin saw an increase of 23.7% in the metric (to US$104.28).
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Key profitability metrics:
TRevPAR – Total revenue per available room
GOPPAR – Gross operating profit per available room
EBITDA – Earnings before interest, income tax, depreciation, and amortization
LPAR – Total labor costs per available room
