More than a demonstration of resilience, it's a real performance. At its annual conference, In Extenso Tourisme, Culture et Hôtellerie drew up a positive assessment of 2023 for the French hotel industry. With footfall continuing to grow (+3%) and average prices still on the rise (+7%) - the latter essentially due to the rise in operating costs - accommodation sales in France recorded a further increase of more than 10% last year. And this compared with 2022, which In Extenso has already described as "the year of the future". some pleasant surprises "This was followed by an increase in revenue per room of +9%.
" Last year saw a further return to growth for our sector" commented Olivier Petit, partner at In Extenso. After the Covid parenthesis, the sector as a whole is back on trackAt the other end of the spectrum, luxury and top-of-the-range hotels are seeing their occupancy rates rise". significantly" .
While the holiday periods may have satisfied hoteliers, the business destinations of France's metropolises have all green lightsMost of them posted double-digit growth in revenue per room (RevPAR). The increase was most marked in Lyon (+21%), with Strasbourg, Toulouse and Nice in the same league, with performances of between +16% and +17%. Only Montpellier (+5%) and Nantes (+9%) are slightly behind.
As for Paris, the capital also recorded growth in line with the major provincial cities, with an increase in RevPAR of +17%. With just over 150 days to go until the opening of the Olympic Games, In Extenso has also taken an interest in analysing the impact of a major sporting event on the hotel industry, as in the case of the rugby world cupheld in France last autumn. The competition generated modest growth in the Paris market, but a marked increase in sales in the cities that hosted matches, particularly Aix-Marseille, Lille and Lyon.
Towards new performances in 2024
What will happen to theJO effect on the Paris hotel industry? While bookings are up, In Extenso expects growth to be closer to that seen in a mature market like London (around +40% over the period of the Games in 2012 vs 2011) than the spectacular increases seen in Rio (+260%) and Beijing (+180%).
More broadly, In Extenso Tourism Culture and Hospitality plans to another year of growth for 2024 with projected increases in RevPAR of around +5% in Paris, +3.5% in the Côte d'Azur and +3.7% in the Regions by 2024. " We can remain optimistic for at least three reasonssaid Olivier Petit. Firstly, 2023 ended with an increase in hotel sales of 10%. Secondly, the economic forecasts lead us to believe in a favourable environment in 2024, particularly due to the impact of the Olympic Games. Finally, investors are sending out favourable signals for the sector as a whole." . And to conclude: " Let's rejoice: the French hotel industry is doing well!" .
