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Travel

UEFA Euro 2020 impact on hotel performance

Source: https://str.com/data-insights-blog/uefa-euro-2020-impact-hotel-performance

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.

Below, we look at the market-level highlights from the later rounds.

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.

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.

To learn more about the data behind this article and what STR has to offer, visit https://str.com/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

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Consumer Edge Research

Consumer Edge Insight offers exclusive street-ready big-data products engineered for alpha generation by Data Science Teams & Portfolio Managers alike. CEI offers a number of alternative data products including CE Transact, our leading U.S. credit/debit card insight product (15M cards). CE Transact products provide aggregated revenue signal, deep fundamental cohort analysis and/or granular transaction-level data feeds with unparalleled metadata. Advantages: shortened latency (T+4), better panel representativeness (9M+ daily panel), and metadata integration such as demographics (at cardholder level). All data is cleaned with CEs Advanced Tagging System.