Hotels saw RevPAR grow 2.9% between July and September year-on-year to €74.95, compared with a 0.7% increase for serviced apartments to €86.81, the company’s analysis of 3.7 million bookable nights shows. The hotel industry has also benefited from more robust occupancy figures, with an annual decline of 0.2% marking almost no change on Q3 2022, while serviced apartments have seen occupancy decrease more substantially, falling 4.4% annually. While ADR for both categories of accommodation have risen, it hasn’t been enough to produce real terms revenue growth for either sector, with the Eurozone’s annual rate of inflation still coming in at 4.3% in September. ADR for hotels rose 2.9% in Q3 to €102.63, while serviced apartments witnessed a stronger improvement of 4% to €106.20.
Martin Reichenbach, CEO of Apaleo, said: “The latest statistics from the DACH region are hugely encouraging despite inflation causing all kinds of trouble for economies globally. “The key takeaway from the third quarter data is that the performance of hotels and serviced apartments has been remarkably resilient. “Despite cost-of-living pressures on consumers and higher costs for businesses, demand has been sufficiently high for operators enabling them to raise their prices in the face of increased operating costs. “While we will continue to see consolidation in the hotel and serviced apartment sector this will happen at a price premium, which is contrasting the situation in other parts of the hospitality industry, namely the short-term rental sector, which is in a phase of downturn.”
