Europe: Data released by serviced apartment agent SilverDoor has revealed that sporting events this summer are positively impacting ADRs across the continent.
Serviced apartment rates across Germany and Paris are set to see a marked rise as the UEFA EURO 2024 championship and Paris 2024 Olympic Games begin.
In Germany, ADR is predicted to see an increase of 14 per cent YOY compared to June 2023.
Berlin which plays host to a number of matches throughout the tournament, including the final, is expected to rise by over a third to £167.85 – a 34 per cent rise. Dortmund, the city with the least tourism pre-tournament, is predicted to see ADR increase by 23 per cent to £85.71.
In Paris, where the Olympic Games start on 26 July, ADR has also risen by 30-70 per cent compared to hotel rooms, which have increased by as much as 200 per cent.
Compared to music events such as Taylor Swift’s Eras tour, SilverDoor data shows overall stability in ADR in the cities where she performs. For example, London rates rose two per cent during her visit – eight per cent higher than the same dates in May, however in line with the expected seasonal ADR increases.
Chris Lyon, head of client services, SilverDoor said: “Navigating business travel and MICE programmes during major events requires strategic planning, flexibility and local knowledge. As much as possible plan ahead to secure the best rates and accommodation as early as possible, particularly if managing accommodation for a large group. Be sure to negotiate a group discount and secure the best choice of accommodation available, especially if additional requirements such as disabled access for example, are needed.
“Likewise, take the time to understand the cancellation and surcharge policies. Negotiating on surcharge waivers are more feasible for longer stays of more than two months or if a client has large booking volumes into a particular destination. Where this isn’t possible, all events-based surcharges are noted on quotes so bookers can make informed decisions, but minimise costs by avoiding dates and destinations that are impacted by surcharges for recurring events.
“This is vital if you are booking far ahead – so that any changes in plans can be managed efficiently and not subject to any further costs that will impact budget and policy compliance,” he added.
