30. Juni 2010 
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European Cup Finals drive profitability in Hamburg and Madrid
Hotel profits in Hamburg and Madrid soared in May thanks to the cities hosting two separate soccer cup finals, according to the latest HotStats survey from TRI Hospitality Consulting.
In Hamburg, the location for the first ever Europa cup final, Revenue per Available Room (RevPAR) levels in the city grew by 11.7% to €93.15 despite an overall decline in room occupancy of 3.4 percentage points. Causing the rise in RevPAR was a 16.9% increase in achieved average room rate, equivalent to a year-on-year growth of €18.04.
The Europa Cup, contested between Fulham and Atletico Madrid, drew a crowd of 49,000 to the HSH Nordbank Arena in Hamburg boosting the rate achieved in the non-discounted rack rate market segment by 33.6% to €145.46 in May, as hoteliers seized the opportunity presented by extremely high demand levels. As a result, achieved average room rate for the month was approximately 14% above the rolling 12 month average at €124.98.
Equally impressive was the performance of the Madrid hotel market. Hotels in the Spanish capital, which hosted the Champions League Final, were better positioned to take advantage of the demand from German and Italian visitors taking extended weekend breaks as the match was scheduled on a Saturday night. With a crowd of more than 73,000 supporting Bayern Munich and Inter Milan on the night, room occupancy levels in the city were 10.6 percentage points higher than during the same period in 2009. In addition, average room rate levels in the city grew by 13.1% to €145.44 resulting in an overall RevPAR increase of 31%.
Due to the significant increase in rooms revenue, payroll levels were far improved in Hamburg, by 4.0 percentage points to 28.6% of total revenue; and Madrid, by 6.6 percentage points to 32.3% of total revenue. The strong headline performance levels alongside significant cost savings resulted in an increase in Gross Operating Profit per Available Room (GOPPAR) of 33.4% in Hamburg and 62.8% in Madrid.
In Hamburg, the location for the first ever Europa cup final, Revenue per Available Room (RevPAR) levels in the city grew by 11.7% to €93.15 despite an overall decline in room occupancy of 3.4 percentage points. Causing the rise in RevPAR was a 16.9% increase in achieved average room rate, equivalent to a year-on-year growth of €18.04.
The Europa Cup, contested between Fulham and Atletico Madrid, drew a crowd of 49,000 to the HSH Nordbank Arena in Hamburg boosting the rate achieved in the non-discounted rack rate market segment by 33.6% to €145.46 in May, as hoteliers seized the opportunity presented by extremely high demand levels. As a result, achieved average room rate for the month was approximately 14% above the rolling 12 month average at €124.98.
Equally impressive was the performance of the Madrid hotel market. Hotels in the Spanish capital, which hosted the Champions League Final, were better positioned to take advantage of the demand from German and Italian visitors taking extended weekend breaks as the match was scheduled on a Saturday night. With a crowd of more than 73,000 supporting Bayern Munich and Inter Milan on the night, room occupancy levels in the city were 10.6 percentage points higher than during the same period in 2009. In addition, average room rate levels in the city grew by 13.1% to €145.44 resulting in an overall RevPAR increase of 31%.
Due to the significant increase in rooms revenue, payroll levels were far improved in Hamburg, by 4.0 percentage points to 28.6% of total revenue; and Madrid, by 6.6 percentage points to 32.3% of total revenue. The strong headline performance levels alongside significant cost savings resulted in an increase in Gross Operating Profit per Available Room (GOPPAR) of 33.4% in Hamburg and 62.8% in Madrid.
