The vertiginous drop in global hotel revenue and profit performance in March data continued its free fall in April, according to Hotstats.
The company said that there were signs of a rebound slowly emerging out of China and suggestive that other global pockets were a month out from an eventual upswing.
Much of the world’s regions and cities remained in shutdown mode, which negatively impacted performance numbers. Goppar expectedly saw triple-digit YOY percentage drops across regions: US (down 122.8%), Europe (down 131.9%), Asia-Pacific (down 124.1%), Middle East (down 115.3%).
In Europe new cases of Covic-19 were reportedly falling across Europe’s capitals as the EU readied to reopen to tourists. Europe’s tourism industry accounts for approximately 10% of all EU economic output.
A sub-10% occupancy and 43% year-on-year drop in rate led to a 95.4% year-on-year decrease in revpar. Trevpar was off 93.2% year-on-year amid a dearth of ancillary revenue combined with the absence of room sales.
Despite total overhead costs coming down 59% year-on-year for the month, coupled with a 70.2% decrease in labor costs, the appreciable amount of lost revenue led to a 131.9% year-on-year decrease in goppar to €-17.80, a second consecutive month of negative goppar and 113% increase over March.