TrevPAR Change % vs GOP Margin % Change – Year to date – 2023 vs 2022

GOP Margin % Change

50 %

40 %

30 %

20 %

10 %

0 %

-10 %

Madrid

Geneva Warsaw Dublin

Lisbon

London

Paris

instance , saw 33 % growth in revenue and no movement in margin . Prague coming from a low base and over 35 % revenue

Rome

Barcelona

Berlin

Budapest

Brussels

Prague

Vienna

Amsterdam

growth achieved the highest margin growth , although still 4.3 percentage points short of 2019 .

Extended-stay properties across Europe struggled to continue the incredible performance over the preceding years , with ADR growth the slowest of the asset classes . The select- and limited-service segment performed the best with a 2-percentagepoint YOY improvement . This was related to the size of the demand growth , with a more limited impact on the cost lines , driven by large amounts of clustering and centralizing of costs and smaller operating models .

Year over year , the lower end of the chain scale has seen the largest improvement in profit margin . Midscale , in particular , saw a 6.7-percentage-point increase over this period . Ultra luxury saw a drop in margin , with luxury and upper-upscale segments holding flat YOY . Much of this relates to the

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Mar / Apr 2024 hotelsmag . com 87