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French Hotel IndustryPerformance

February 2015

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French Hotel Industry Performance – February 2015





February, still no sign of recovery

Difficult to say whether January’s dramatic events continued to have a major impact on Paris as a

destination, but hotel demand lost steam – a situation perhaps more to do with the on-going gloomy

economic context where French clients were less present in Paris during the holidays. The situation was

similar throughout regional France, where January’s encouraging results failed to carry on into February.

3 French Hotel Industry Performance – February 2015

Definitions

OR = Occupancy Rate

ADR = Average Daily Rate

RevPAR = Revenue per

available room

Sharply impacted in January by the terrorist attacks, Parisian hotels are finding it difficult to get back up to speed.

All categories recorded a drop in occupancy in February. Although certain segments managed to compensate by

posting higher average rates (Luxury, Standard Midscale), a large part of the market stagnated or declined.

However, Philippe Gauguier, Associate at In Extenso TCH, argues that we shouldn’t be too quick to conclude that

January’s attacks are to blame for tourists staying away – February is traditionally a month where French clients

are present, particularly during the holidays. The effects of the recession are still being felt, and as with last year,

clients are making themselves scarcer.

At the same time, regional performances – rather encouraging in January – stagnated or even declined,

depending on the area observed. The Côte d’Azur and certain cities (Bordeaux, Lille, Lyon, Toulouse, etc.),

posted better results than this time last year, confirming January’s trend. However, others (Marseille, Strasburg,

etc.) suffered, recording significantly lower results.

It should be stressed that certain destinations and professionals are taking advantage of this quiet period to close

– to use up holiday time or undertake maintenance works. This phenomenon is particularly present on the Côte

d’Azur where hotels that usually stay open have adjusted capacity or opening dates to reflect the slower business.

More upscale categories confirmed the decline throughout France. Conversely, although 2014 was difficult for

budget segments (particularly Super-budget), given the rise in VAT, average rates are slightly better this year. The

budget sector was the only one to see RevPAR progress during February, although time will tell whether the VAT

hike has finally been digested.

Monthly performance

February Luxury Upscale Midscale Budget Super Budget

OR 2014 47,1% 52,3% 54,1% 58,6% 59,0%

Var. /n-1 -3,7% 1,7% 0,1% 1,6% -0,8%

ADR 2014 286 € 146 € 93 € 62 € 39 €

Var. /n-1 -8,7% -2,0% -0,8% -1,9% 1,1%

RevPAR 2014 135 € 76 € 50 € 36 € 23 €

Var. /n-1 -12,0% -0,3% -0,6% -0,3% 0,3%

Year To Date performance

Jan. to

FebruaryLuxury Upscale Midscale Budget Super Budget

OR 2014 46,5% 53,3% 52,0% 55,2% 55,3%

Var. /n-1 -3,4% 3,6% 0,6% 1,3% -1,4%

ADR 2014 296 € 150 € 95 € 63 € 39 €

Var. /n-1 -9,3% -2,3% 0,1% -1,3% 1,1%

RevPAR 2014 138 € 80 € 49 € 35 € 22 €

Var. /n-1 -12,4% 1,3% 0,8% 0,0% -0,3%





Performances ParisFebruary 2015

Paris-City

4

Paris suburbs (excluding Paris) – Luxury and upscale

Monthly performance

2014 Var /n-1 2014 Var /n-1 2014 Var /n-1

Paris - Luxury 60,0% -2,8% 406 € 4,1% 244 € 1,2%

Paris - Boutique Hotels 63,1% -5,0% 212 € -5,9% 134 € -10,6%

Paris - Upscale 60,9% -3,5% 167 € 0,2% 102 € -3,3%

Paris - Luxury & Upscale 60,9% -3,5% 221 € 2,9% 135 € -0,7%

Paris - Superior midscale 68,8% -3,4% 135 € -0,3% 93 € -3,7%

Paris - Standard midscale 67,3% -2,6% 100 € 3,8% 68 € 1,0%

Paris - Midscale 67,9% -2,9% 115 € 2,0% 78 € -1,0%

Paris - Budget 74,5% -2,6% 80 € 3,4% 60 € 0,6%


2014 Var /n-1 2014 Var /n-1 2014 Var /n-1

Paris - Luxury 62,8% -4,0% 417 € 2,1% 262 € -2,0%

Paris - Boutique Hotels 64,9% -4,4% 224 € -5,3% 145 € -9,4%

Paris - Upscale 64,7% -0,4% 172 € 0,4% 111 € 0,0%

Paris - Haut de gamme & Gd luxe 64,3% -1,5% 228 € 1,7% 146 € 0,2%

Paris - Superior midscale 71,0% -3,3% 141 € 0,8% 100 € -2,5%

Paris - Standard midscale 65,6% -3,1% 103 € 3,5% 68 € 0,3%

Paris - Midscale 67,7% -3,1% 119 € 2,4% 81 € -0,8%

Paris - Budget 71,6% -4,2% 81 € 2,6% 58 € -1,8%

FebruaryOR ADR RevPAR

OR ADR RevPARJan. to February

Monthly performance

2014 Var /n-1 2014 Var /n-1 2014 Var /n-1

Paris 60,9% -3,5% 221 € 2,9% 135 € -0,7%

La Défense 63,9% 12,9% 151 € -4,3% 97 € 8,0%

Roissy CdG 69,5% 8,2% 112 € 6,1% 78 € 14,9%

IDF (exc.Paris and poles) 70,9% 11,1% 195 € 2,0% 138 € 13,3%


2014 Var /n-1 2014 Var /n-1 2014 Var /n-1

Paris 64,3% -1,5% 228 € 1,7% 146 € 0,2%0

La Défense 66,9% 16,8% 148 € -6,6% 99 € 9,1%0

Roissy CdG 69,0% 4,5% 112 € 2,0% 77 € 6,6%0

IDF (exc.Paris and poles) 68,3% 11,4% 195 € 1,8% 133 € 13,4%

Jan. to FebruaryOR ADR RevPAR







Performance RegionsFebruary 2015

Regions

5

Re

gio

ns

(excl. F

ren

ch

Riv

iera

)R

egio

ns

(excl. F

ren

ch

Riv

iera

)F

ren

ch

Riv

iera

Fre

nch

Riv

iera

•* Upscale : = sample groups upscale boutique hotels and standard four star hotels

Monthly performance

February Luxury Upscale Midscale Budget Super Budget

OR 2014 46,6% 43,9% 48,7% 52,7% 56,4%

Var. /n-1 -4,5% 2,6% -1,8% -2,2% -2,0%

ADR 2014 207 € 120 € 85 € 60 € 38 €

Var. /n-1 2,3% -1,9% -0,5% -3,3% 0,6%

RevPAR 2014 96 € 53 € 42 € 32 € 21 €

Var. /n-1 -2,2% 0,6% -2,3% -5,4% -1,4%


Jan. to February Luxury Upscale Midscale Budget Super Budget

OR 2014 41,2% 45,5% 46,7% 50,2% 52,5%

Var. /n-1 -4,5% 9,3% 0,1% 0,0% -2,4%

ADR 2014 210 € 124 € 86 € 61 € 38 €

Var. /n-1 2,2% 0,8% 0,6% -1,3% 1,2%

RevPAR 2014 87 € 56 € 40 € 31 € 20 €

Var. /n-1 -2,4% 10,2% 0,7% -1,3% -1,3%

Monthly performance

February Luxury Upscale * Midscale Budget Super Budget

OR 2014 37,1% 41,1% 51,0% n.d. 52,0%

Var. /n-1 3,4% 19,2% 11,0% - 3,2%

ADR 2014 156 € 103 € 78 € n.d. 43 €

Var. /n-1 -14,0% 0,0% -2,3% - 3,6%

RevPAR 2014 58 € 42 € 40 € n.d. 23 €

Var. /n-1 -11,1% 19,2% 8,4% - 6,9%


Jan. to February Luxury Upscale * Midscale Budget Super Budget

OR 2014 33,0% 38,0% 44,8% n.d. 47,3%

Var. /n-1 -7,2% 22,9% 10,5% - 2,0%

ADR 2014 155 € 105 € 78 € n.d. 43 €

Var. /n-1 -9,9% -2,6% -1,7% - 4,0%

RevPAR 2014 51 € 40 € 35 € n.d. 21 €

Var. /n-1 -16,4% 19,7% 8,7% - 6,0%






Performances SuburbsFebruary 2015

Paris suburbs (excluding Paris)

6

Mid

scale

mark

et

Mid

scale

mark

et

Budget m

ark

et

Budget m

ark

et

Super

Budget m

ark

et

Super

Budget m

ark

et

Monthly performance

77. 78. 91. 92. 93. 94. 95.

OR 2014 31,6% 64,3% 60,1% 57,1% 60,5% 65,6% 64,3% 60,0%

Var. /n-1 -12,2% 10,7% 17,6% 0,6% 21,6% 5,2% 6,4% 7,6%

ADR 2014 96 € 103 € 88 € 107 € 74 € 82 € 100 € 97 €

Var. /n-1 -2,6% 2,6% -5,2% -1,6% -5,4% 1,5% 2,2% -1,1%

RevPAR 2014 30 € 66 € 53 € 61 € 45 € 54 € 64 € 58 €

Var. /n-1 -14,4% 13,6% 11,5% -1,0% 15,0% 6,8% 8,7% 6,4%


77. 78. 91. 92. 93. 94. 95.

OR 2014 34,1% 60,4% 56,5% 55,2% 58,4% 66,5% 62,4% 57,9%

Var. /n-1 3,0% 9,9% 11,1% 1,0% 18,6% 4,0% 1,2% 5,5%

ADR 2014 100 € 103 € 98 € 110 € 76 € 83 € 102 € 100 €

Var. /n-1 2,4% -1,8% 1,9% -2,0% -4,2% -1,9% 0,8% -0,9%

RevPAR 2014 34 € 62 € 55 € 60 € 44 € 55 € 63 € 58 €

Var. /n-1 5,4% 7,9% 13,3% -1,1% 13,7% 2,1% 2,0% 4,6%

Average

suburbs

Average

suburbs

Februarydepartments

Jan. to Februarydepartments

Monthly performance

77. 78. 91. 92. 93. 94. 95.

OR 2014 70,8% 66,3% 63,1% 58,7% 62,8% 65,6% 72,6% 66,4%

Var. /n-1 27,9% 8,5% 6,6% -8,9% 10,9% 8,5% 14,0% 10,4%

ADR 2014 54 € 79 € 60 € 74 € 62 € 62 € 61 € 63 €

Var. /n-1 -6,1% 0,6% -5,3% -2,1% 12,3% -6,3% 11,6% 1,9%

RevPAR 2014 38 € 52 € 38 € 43 € 39 € 41 € 44 € 42 €

Var. /n-1 20,1% 9,2% 0,9% -10,8% 24,4% 1,7% 27,2% 12,5%


77. 78. 91. 92. 93. 94. 95.

OR 2014 63,1% 62,8% 58,0% 57,1% 56,8% 63,5% 67,5% 61,7%

Var. /n-1 20,6% 7,5% -0,1% -9,3% 5,9% 5,9% 5,4% 5,4%

ADR 2014 55 € 81 € 62 € 76 € 61 € 63 € 60 € 64 €

Var. /n-1 -5,9% 1,8% -3,7% 0,0% 3,8% -5,2% 4,0% -0,3%

RevPAR 2014 35 € 51 € 36 € 43 € 35 € 40 € 40 € 39 €

Var. /n-1 13,5% 9,5% -3,8% -9,2% 10,0% 0,4% 9,7% 5,1%

Februarydepartments

Jan. to Februarydepartments

Average

suburbs

Average

suburbs

Monthly performance

77. 78. 91. 92. 93. 94. 95.

OR 2014 69,7% 70,9% 70,0% n.d. 69,0% 72,4% 72,0% 70,5%

Var. /n-1 3,3% 5,1% 3,2% - -2,5% 0,3% 2,2% 0,7%

ADR 2014 41 € 43 € 39 € n.d. 46 € 44 € 48 € 44 €

Var. /n-1 2,4% 0,1% -1,8% - 5,9% -1,4% 10,3% 2,8%

RevPAR 2014 29 € 31 € 27 € n.d. 32 € 32 € 35 € 31 €

Var. /n-1 5,8% 5,2% 1,3% - 3,3% -1,0% 12,7% 3,5%


77. 78. 91. 92. 93. 94. 95.

OR 2014 66,7% 68,9% 67,1% n.d. 66,0% 71,1% 71,3% 68,0%

Var. /n-1 2,2% 3,5% 1,8% - -2,1% 1,0% 0,6% -0,2%

ADR 2014 41 € 43 € 39 € n.d. 46 € 43 € 47 € 44 €

Var. /n-1 2,7% 0,2% -1,4% - 3,7% -2,6% 5,5% 1,2%

RevPAR 2014 27 € 30 € 26 € n.d. 30 € 31 € 34 € 30 €

Var. /n-1 5,0% 3,7% 0,3% - 1,5% -1,6% 6,2% 1,0%

Februarydepartments IDF

(hors Paris)

Jan. to Februarydepartments IDF

(hors Paris)






Performances North-EastFebruary 2015

North-east & Cities

7

Departments in the North-Eastern set :

Aisne; Allier; Ardennes; Aube; Cher; Côte-d'Or; Doubs; Jura; Loiret; Marne; Haute-Marne; Meurthe-et-Moselle; Meuse; Moselle; Nièvre; Nord;

Oise; Pas-de-Calais; Bas-Rhin; Haut-Rhin; Haute-Saône; Saône-et-Loire; Vosges; Yonne; Territoire-de-Belfort

2014 Var /n-1 2014 Var /n-1 2014 Var /n-1 2014 Var /n-1 2014 Var /n-1 2014 Var /n-1

North-east 42,0% 1,6% 123 € -1,2% 52 € 0,5% 43,9% 7,8% 126 € 1,2% 55 € 9,1%

Dijon 49,2% 23,0% 109 € -2,8% 54 € 19,6% 41,5% 5,6% 109 € -4,2% 45 € 1,2%

Lille 48,9% -4,6% 122 € 5,2% 60 € 0,3% 51,4% 3,5% 128 € 9,0% 66 € 12,8%

Metz

Nancy

Reims n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Strasburg 43,7% -12,7% 110 € -8,6% 48 € -20,2% 52,3% 4,0% 113 € -3,0% 59 € 0,9%


North-east 47,6% 1,8% 89 € 1,1% 42 € 2,9% 44,9% 3,4% 88 € 0,9% 40 € 4,3%

Dijon 46,3% -3,9% 85 € -1,2% 39 € -5,0% 40,9% -0,3% 81 € -0,7% 33 € -1,0%

Lille 57,4% 2,7% 89 € 2,8% 51 € 5,5% 56,5% 4,3% 93 € 5,9% 53 € 10,4%

Metz

Nancy 52,3% 8,8% 78 € -3,1% 41 € 5,5% 46,0% 1,7% 78 € -2,5% 36 € -0,8%

Reims 47,4% 2,7% 95 € 1,4% 45 € 4,1% 42,9% -2,9% 95 € -2,4% 41 € -5,2%

Strasburg 48,1% -12,8% 95 € -5,8% 46 € -17,9% 48,6% -10,7% 96 € -3,9% 46 € -14,2%


North-east 56,4% -0,2% 58 € -3,3% 33 € -3,5% 53,4% 1,7% 59 € -2,1% 32 € -0,5%

Dijon 63,8% -5,8% 59 € 0,0% 38 € -5,9% 57,3% -3,1% 60 € -0,4% 34 € -3,4%

Lille 61,4% 1,5% 68 € -1,9% 42 € -0,5% 60,4% 4,8% 71 € 0,9% 43 € 5,8%

Metz 48,5% -2,9% 61 € -6,6% 30 € -9,3% 47,2% 0,6% 60 € -9,5% 28 € -8,9%

Nancy 56,6% 1,9% 59 € -5,1% 33 € -3,3% 52,4% 5,2% 59 € -3,6% 31 € 1,5%


Strasburg 56,2% -9,9% 62 € -9,0% 35 € -18,0% 56,1% -6,7% 63 € -5,2% 35 € -11,6%


North-east 56,2% -2,7% 37 € 2,0% 21 € -0,7% 52,6% -3,2% 37 € 2,5% 20 € -0,7%

Dijon 58,4% -9,8% 38 € -1,6% 22 € -11,2% 54,0% -7,2% 38 € -0,6% 21 € -7,8%

Lille 56,9% -4,8% 40 € 2,1% 23 € -2,8% 56,7% -0,1% 40 € 3,3% 23 € 3,1%

Metz 62,2% -3,0% 37 € 2,0% 23 € -1,1% 58,0% -4,3% 37 € 2,5% 22 € -1,9%

Nancy 54,0% -2,7% 39 € 4,0% 21 € 1,1% 51,2% -1,3% 39 € 4,4% 20 € 3,0%


Strasburg 56,2% -13,0% 40 € 1,5% 23 € -11,7% 53,3% -12,7% 40 € 1,4% 21 € -11,4%

ADR RevPAR

insufficient supply insufficient supply


in progress in progress

Monthly performance Year To Date performance

Super BudgetOR ADR RevPAR OR

ADR RevPAR

BudgetOR ADR RevPAR OR ADR RevPAR

MidscaleOR ADR RevPAR OR

ADR RevPARLuxury

Upscale

OR ADR RevPAR OR






Performances North-WestFebruary 2015

North-West & Cities

8

Departments in the North-Western set :

Calvados; Côtes; Eure; Eure-et-Loir; Finistère; Ille-et-Vilaine; Indre; Indre-et-Loire; Loir-et-Cher; Loire-Atlantique; Maine-et-Loire; Manche;

Mayenne; Morbihan; Orne; Sarthe; Seine-Maritime; Deux-Sèvres; Somme; Vendée; Vienne


North-West 47,7% -13,6% 180 € -1,8% 86 € -15,2% 39,9% -13,7% 174 € -2,2% 69 € -15,6%

Amiens

Angers

Le Havre

Niort

Nantes

Rennes

Rouen


North-West 48,1% 0,4% 84 € -0,8% 40 € -0,4% 45,8% -0,3% 84 € 1,9% 39 € 1,5%

Amiens n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Angers n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Le Havre 55,5% 3,6% 80 € -8,9% 44 € -5,6% 51,1% 0,4% 82 € -5,2% 42 € -4,9%

Nantes 53,8% -7,9% 85 € -4,1% 46 € -11,7% 53,9% -2,3% 87 € -2,9% 47 € -5,1%

Niort 45,2% -15,3% 84 € -0,6% 38 € -15,8% 44,0% -13,3% 84 € 0,1% 37 € -13,2%

Rennes 49,4% -17,2% 89 € -9,5% 44 € -25,1% 49,4% -10,2% 91 € -2,8% 45 € -12,8%

Rouen 47,9% -1,9% 89 € -1,6% 43 € -3,5% 50,6% -2,1% 90 € 4,4% 46 € 2,2%

Niort : in development, sample sub ject to change


North-West 48,9% -5,8% 62 € -2,2% 31 € -7,8% 46,1% -4,8% 62 € -1,7% 29 € -6,4%

Amiens n.d. - n.d. - n.d - n.d. - n.d. - n.d -

Angers 57,2% -1,5% 73 € -2,5% 41 € -3,9% 55,5% 2,2% 71 € -3,2% 39 € -1,1%

Le Havre 41,6% -21,9% 58 € 2,8% 24 € -19,7% 38,8% -21,3% 58 € -2,5% 22 € -23,2%

Nantes 54,8% -3,2% 62 € -7,1% 34 € -10,1% 52,5% -0,9% 65 € -4,8% 34 € -5,7%

Niort 48,4% -1,9% 58 € -12,8% 28 € -14,5% 44,3% -6,0% 59 € -9,3% 26 € -14,7%

Rennes 58,9% -8,1% 64 € -11,6% 38 € -18,7% 57,9% -3,3% 65 € -6,8% 38 € -9,9%

Rouen 50,0% -7,6% 61 € 1,6% 31 € -6,1% 49,9% -3,7% 61 € 0,4% 31 € -3,3%



North-West 55,5% 0,8% 38 € -0,7% 21 € 0,2% 50,8% -1,6% 38 € -0,3% 19 € -1,9%

Amiens n.d. - n.d. - n.d - n.d. - n.d. - n.d -

Angers 55,2% -7,4% 42 € 2,6% 23 € -4,9% 52,2% -6,6% 43 € 3,5% 22 € -3,4%

Le Havre 66,0% -3,9% 37 € -6,0% 24 € -9,7% 56,6% -11,8% 37 € -7,0% 21 € -18,0%

Nantes 62,5% 0,8% 42 € -1,5% 26 € -0,7% 60,9% 3,2% 42 € -1,1% 26 € 2,1%

Niort 58,7% 11,5% 33 € -0,8% 19 € 10,6% 55,7% 5,7% 32 € -4,5% 18 € 1,0%

Rennes 55,1% -6,7% 39 € -6,6% 22 € -12,9% 54,1% -3,2% 40 € -4,2% 21 € -7,3%

Rouen 55,4% 5,5% 44 € 2,6% 24 € 8,2% 54,3% 4,4% 44 € 1,1% 24 € 5,6%


insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply

insufficient supply



Luxury

Upscale

OR ADR RevPAR OR ADR RevPAR

RevPAR


MidscaleOR ADR RevPAR OR ADR

RevPARSuper Budget

OR ADR RevPAR OR ADR






Performances South-East February 2015

South-East (excl. French Riviera) & Cities

9

Departments in the South-Eastern set :

Ain; Alpes; Hautes-Alpes; Alpes-Maritimes; Ardèche; Aude; Aveyron; Bouches-du-Rhône; Cantal; Drôme; Gard; Hérault; Isère; Loire; Haute-

Loire; Lozère; Puy-de-Dôme; Pyrénées-Orientales; Rhône; Savoie; Savoie; Haute-Savoie; Var; Vaucluse


South-East 42,4% -4,0% 128 € 0,3% 54 € -3,7% 44,7% 7,4% 134 € 3,1% 60 € 10,8%

Aix en Provence n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Avignon 24,0% -31,8% 108 € 5,4% 26 € -28,1% 29,4% -5,8% 100 € -0,7% 29 € -6,5%

Grenoble

Lyon 60,5% 4,7% 123 € 8,0% 75 € 13,1% 61,8% 11,4% 137 € 17,9% 85 € 31,3%

Marseille 43,3% -14,3% 117 € -7,0% 51 € -20,3% 42,5% -6,7% 120 € -8,3% 51 € -14,4%

Montpellier 45,1% 1,3% 133 € -8,1% 60 € -7,0% 47,9% 9,0% 129 € -5,9% 62 € 2,6%

St Etienne


South-East 49,5% -6,6% 83 € -2,2% 41 € -8,7% 48,6% -1,7% 85 € -0,5% 41 € -2,2%

Aix en Provence 42,3% -11,5% 79 € -3,7% 33 € -14,8% 40,1% -7,4% 79 € -4,9% 32 € -11,9%

Avignon 44,1% -4,3% 74 € 2,8% 33 € -1,5% 43,7% 4,8% 78 € 2,5% 34 € 7,4%

Grenoble 53,1% -3,4% 93 € -5,3% 50 € -8,5% 49,5% -6,1% 94 € -5,4% 46 € -11,2%

Lyon 55,5% -6,4% 92 € -2,5% 51 € -8,8% 57,9% 6,7% 103 € 8,5% 60 € 15,8%

Marseille 50,9% -5,6% 84 € -3,7% 43 € -9,0% 48,9% -7,5% 86 € -4,6% 42 € -11,7%

Montpellier 48,6% -14,5% 81 € -4,3% 40 € -18,1% 51,6% -1,0% 81 € -2,1% 42 € -3,1%

St Etienne


South-East 51,7% -5,5% 61 € -3,6% 31 € -8,9% 50,2% -0,1% 63 € 0,7% 32 € 0,6%

Aix en Provence 43,5% -6,9% 59 € -2,5% 26 € -9,2% 43,1% -4,1% 58 € -4,8% 25 € -8,8%

Avignon 40,3% -0,1% 55 € -6,6% 22 € -6,7% 39,6% -2,5% 57 € -4,3% 22 € -6,7%

Grenoble 56,8% -5,6% 60 € -4,1% 34 € -9,4% 51,8% -4,8% 61 € -3,7% 31 € -8,3%

Lyon 59,4% -3,6% 68 € -0,7% 40 € -4,3% 59,4% 4,6% 77 € 13,1% 46 € 18,3%

Marseille 54,2% 6,7% 61 € -5,0% 33 € 1,5% 50,0% 4,8% 61 € -5,9% 31 € -1,3%

Montpellier 54,7% -16,4% 65 € -4,9% 36 € -20,5% 58,0% -4,2% 67 € -0,3% 39 € -4,5%

St Etienne


South-East 57,3% -1,2% 39 € 0,9% 22 € -0,3% 53,3% -1,1% 39 € 2,2% 21 € 1,1%

Aix en Provence n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Avignon 55,0% -2,3% 32 € -5,0% 18 € -7,2% 50,6% -9,1% 33 € -3,4% 17 € -12,2%

Grenoble 63,1% 1,6% 37 € -4,9% 23 € -3,4% 58,0% 5,2% 36 € -5,3% 21 € -0,3%

Lyon 66,3% -3,2% 40 € 2,0% 27 € -1,3% 63,6% 0,9% 42 € 7,1% 27 € 8,1%

Marseille 55,9% -3,4% 40 € -1,3% 22 € -4,6% 54,5% 0,7% 40 € -1,9% 22 € -1,3%

Montpellier 53,5% -14,7% 35 € 0,1% 19 € -14,6% 54,0% -5,6% 35 € 2,4% 19 € -3,3%

St Etienne n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -




ADR RevPARLuxury

Upscale

OR ADR RevPAR OR

RevPAR





RevPARSuper Budget







Performances South WestFebruary 2015

South-West & Cities

10

Departments in the South-Western set :

Ariège; Charente; Charente-Maritime; Corrèze; Creuse; Dordogne; Haute-Garonne; Gers; Gironde; Landes; Lot; Lot-et-Garonne; Pyrénées-

Atlantiques; Hautes-Pyrénées; Tarn; Tarn-et-Garonne; Haute-Vienne


South-West 42,8% 5,9% 151 € -2,4% 64 € 3,3% 42,4% 6,5% 155 € -2,9% 66 € 3,5%

Bayonne-Anglet-Biarritz 32,5% -10,5% 179 € 15,4% 58 € 3,2% 35,8% -3,8% 179 € 4,0% 64 € 0,1%

Bordeaux 35,0% 10,9% 183 € 6,7% 64 € 18,3% 35,0% 14,1% 177 € 3,3% 62 € 17,9%

Pau n.d. - n.d. - - - n.d. - n.d. - - -

Toulouse 66,8% 21,1% 113 € -13,5% 76 € 4,7% 62,6% 13,7% 117 € -10,5% 73 € 1,7%

Bayonne-Anglet-Biarritz : in development, sample sub ject to change


South-West 49,6% 0,4% 84 € -0,9% 41 € -0,4% 46,5% -1,1% 84 € 0,3% 39 € -0,9%

Bayonne-Anglet-Biarritz n.d. - n.d. - - - n.d. - n.d. - - -

Bordeaux 49,2% 7,7% 85 € 0,1% 42 € 7,8% 48,5% 3,8% 85 € -1,1% 41 € 2,7%

Pau 51,2% -0,2% 77 € -1,7% 40 € -1,9% 47,4% -3,4% 77 € 0,5% 37 € -2,9%

Toulouse 54,1% -8,1% 95 € -0,1% 52 € -8,2% 51,6% -6,2% 96 € 0,3% 49 € -5,9%



South-West 53,1% 6,0% 59 € -3,3% 31 € 2,5% 50,5% 3,9% 59 € -2,5% 30 € 1,4%

Bayonne-Anglet-Biarritz 51,2% 34,5% 49 € -8,3% 25 € 23,3% 44,5% 17,3% 47 € -12,5% 21 € 2,6%

Bordeaux 57,5% 5,9% 63 € -0,3% 36 € 5,6% 54,4% 4,5% 63 € -1,7% 35 € 2,7%

Pau n.d. - n.d. - - - n.d. - n.d. - - -

Toulouse 56,3% -12,0% 63 € -2,7% 36 € -14,4% 56,4% -2,6% 63 € -2,7% 36 € -5,2%



South-West 57,0% -4,8% 37 € -0,2% 21 € -4,9% 54,0% -3,2% 37 € 0,0% 20 € -3,2%

Bayonne-Anglet-Biarritz n.d. - - - - - n.d. - n.d. - - -

Bordeaux 60,0% -6,1% 36 € -0,2% 22 € -6,3% 57,0% -6,1% 36 € -0,5% 21 € -6,6%

Pau 48,2% -7,2% 32 € -2,5% 16 € -9,5% 45,2% -5,8% 32 € -2,0% 15 € -7,7%

Toulouse 65,2% -5,0% 38 € -0,5% 25 € -5,5% 63,3% -0,9% 38 € -0,1% 24 € -1,0%


RevPARSuper Budget


RevPAR




Luxury

Upscale







Performances French RivieraFebruary 2015

French Riviera

French Riviera Cities

11

* Monaco set include the following cities : Monaco, Roquebrune and Cap d’Ail

** Boutique Hotels: sample excludes Luxury hotels


French Riviera - Luxury 37,1% 3,4% 156 € -14,0% 58 € -11,1% 33,0% -7,2% 155 € -9,9% 51 € -16,4%

French Riviera - Boutique Hotels** 58,9% 2,7% 89 € -3,4% 52 € -0,8% 49,8% 2,1% 91 € -3,6% 45 € -1,7%

French Riviera - Upscale 39,5% 21,3% 105 € 0,2% 41 € 21,5% 36,9% 25,7% 106 € -2,8% 39 € 22,2%

Average Upscale & Luxury 39,8% 13,8% 119 € -8,2% 47 € 4,5% 36,2% 11,5% 121 € -8,6% 44 € 2,0%

Average Midscale 51,0% 11,0% 78 € -2,3% 40 € 8,4% 44,8% 10,5% 78 € -1,7% 35 € 8,7%

Average Budget n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Average Super-Budget 52,0% 3,2% 43 € 3,6% 23 € 6,9% 47,3% 2,0% 43 € 4,0% 21 € 6,0%


FebruaryOR ADR RevPAR OR ADR RevPAR


Cannes - Luxury 35,2% 4,9% 146 € -22,0% 51 € -18,2% 29,5% -13,5% 146 € -15,3% 43 € -26,7%

Cannes - Boutique Hotels n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Cannes - Upscale 28,0% 13,6% 99 € -6,3% 28 € 6,5% 29,0% 29,7% 99 € -6,5% 29 € 21,3%

Cannes - Upscale & Luxury 32,0% 8,2% 128 € -17,9% 41 € -11,2% 29,2% -0,2% 128 € -15,3% 37 € -15,4%

Cannes - Midscale 40,2% -0,1% 82 € -4,9% 33 € -5,0% 36,5% 0,0% 84 € -2,3% 30 € -2,4%


Nice - Upscale & Luxury 46,0% 15,3% 114 € 1,4% 52 € 16,9% 42,0% 20,5% 115 € -1,7% 48 € 18,5%

Nice - Midscale 55,7% 16,6% 74 € -2,5% 41 € 13,7% 48,3% 16,2% 75 € -1,6% 36 € 14,4%


Monaco - Luxury 63,9% 62,4% 262 € -12,3% 167 € 42,4% 57,6% 39,9% 282 € -12,2% 162 € 22,9%

Monaco - Upscale 47,6% 33,1% 150 € 1,3% 71 € 34,9% 50,9% 30,3% 152 € 2,0% 77 € 32,9%

Monaco - Upscale & Luxury 52,0% 41,5% 187 € -2,3% 97 € 38,3% 52,7% 33,0% 190 € -3,3% 100 € 28,5%

ADR RevPAR

FebruaryOR ADR RevPAR OR

FebruaryOR ADR RevPAR OR


OR ADR RevPAR

ADR RevPAR


Monthly performance






12

Performances CoastFebruary 2015

Normandy – Nord-Pas-de-Calais coast

Brittany – Pays-de-la-Loire coast

Charente-Maritime – Aquitaine coast

Coast: benchmark based on hotel supply in coastal communes, as defined by INSEE

Benchmark under development and likely to evolve






Average Upscale & Luxury 47,6% 23,7% 184 € -1,0% 88 € 22,5% 44,2% 24,4% 185 € -2,8% 82 € 20,9%

Average Midscale 54,3% 13,6% 90 € -8,6% 49 € 3,9% 48,6% 10,2% 88 € -4,4% 43 € 5,3%

Average Budget 48,3% -6,7% 63 € 1,0% 30 € -5,8% 45,0% -5,6% 61 € -1,6% 28 € -7,1%

Average Super-Budget 50,4% 0,6% 37 € 1,8% 19 € 2,3% 44,4% -3,6% 37 € 1,1% 16 € -2,5%


Normandy – Nord-Pas-de-Calais

coast



Average Upscale & Luxury 47,7% -18,8% 188 € -2,5% 90 € -20,8% 34,7% -25,2% 185 € -2,6% 64 € -27,2%

Average Midscale 50,7% 8,2% 92 € 6,9% 47 € 15,7% 46,5% 7,9% 90 € 5,1% 42 € 13,4%

Average Budget 41,7% -2,8% 52 € -3,9% 22 € -6,6% 37,5% 0,5% 53 € -1,9% 20 € -1,4%

Average Super-Budget 49,1% -0,9% 41 € 0,9% 20 € 0,0% 43,5% -1,4% 41 € 0,4% 18 € -1,0%


OR ADR RevPAR OR ADR RevPARBrittany – Pays-de-la-Loire

coast


Average Upscale & Luxury 32,5% -10,5% 179 € 15,4% 58 € 3,2% 35,8% -3,8% 179 € 4,0% 64 € 0,1%

Average Midscale 50,2% 35,8% 84 € 2,4% 42 € 39,1% 43,4% 24,8% 85 € 0,5% 37 € 25,5%

Average Budget 40,6% 33,7% 49 € -7,2% 20 € 24,0% 34,4% 19,3% 47 € -11,9% 16 € 5,1%

Average Super-Budget 47,2% 0,1% 41 € 2,9% 19 € 3,0% 41,8% -3,8% 41 € 2,8% 17 € -1,1%

ADR RevPARCharente-Maritime – Aquitaine coast


OR ADR RevPAR OR






Performances Main cities in RegionsFebruary 2015

Main cities in Regions – Luxury upscale and midscale

13


Avignon 24,0% -31,8% 108 € 5,4% 26 € -28,1% 29,4% -5,8% 100 € -0,7% 29 € -6,5%

Bayonne-Anglet-Biarritz 32,5% -10,5% 179 € 15,4% 58 € 3,2% 35,8% -3,8% 179 € 4,0% 64 € 0,1%

Bordeaux 35,0% 10,9% 183 € 6,7% 64 € 18,3% 35,0% 14,1% 177 € 3,3% 62 € 17,9%

Cannes 32,0% 8,2% 128 € -17,9% 41 € -11,2% 29,2% -0,2% 128 € -15,3% 37 € -15,4%

Dijon 49,2% 23,0% 109 € -2,8% 54 € 19,6% 41,5% 5,6% 109 € -4,2% 45 € 1,2%

Lille 48,9% -4,6% 122 € 5,2% 60 € 0,3% 51,4% 3,5% 128 € 9,0% 66 € 12,8%

Lyon 60,5% 4,7% 123 € 8,0% 75 € 13,1% 61,8% 11,4% 137 € 17,9% 85 € 31,3%

Marseille 43,3% -14,3% 117 € -7,0% 51 € -20,3% 42,5% -6,7% 120 € -8,3% 51 € -14,4%

Monaco 52,0% 41,5% 187 € -2,3% 97 € 38,3% 52,7% 33,0% 190 € -3,3% 100 € 28,5%

Montpellier 45,1% 1,3% 133 € -8,1% 60 € -7,0% 47,9% 9,0% 129 € -5,9% 62 € 2,6%

Nice 46,0% 15,3% 114 € 1,4% 52 € 16,9% 42,0% 20,5% 115 € -1,7% 48 € 18,5%

Strasburg 43,7% -12,7% 110 € -8,6% 48 € -20,2% 52,3% 4,0% 113 € -3,0% 59 € 0,9%

Toulouse 66,8% 21,1% 113 € -13,5% 76 € 4,7% 62,6% 13,7% 117 € -10,5% 73 € 1,7%



Aix en Provence 42,3% -11,5% 79 € -3,7% 33 € -14,8% 40,1% -7,4% 79 € -4,9% 32 € -11,9%

Avignon 44,1% -4,3% 74 € 2,8% 33 € -1,5% 43,7% 4,8% 78 € 2,5% 34 € 7,4%

Bayonne-Anglet-Biarritz n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Bordeaux 49,2% 7,7% 85 € 0,1% 42 € 7,8% 48,5% 3,8% 85 € -1,1% 41 € 2,7%

Cannes 40,2% -0,1% 82 € -4,9% 33 € -5,0% 36,5% 0,0% 84 € -2,3% 30 € -2,4%

Dijon 46,3% -3,9% 85 € -1,2% 39 € -5,0% 40,9% -0,3% 81 € -0,7% 33 € -1,0%

Grenoble 53,1% -3,4% 93 € -5,3% 50 € -8,5% 49,5% -6,1% 94 € -5,4% 46 € -11,2%

Le Havre 55,5% 3,6% 80 € -8,9% 44 € -5,6% 51,1% 0,4% 82 € -5,2% 42 € -4,9%

Lille 57,4% 2,7% 89 € 2,8% 51 € 5,5% 56,5% 4,3% 93 € 5,9% 53 € 10,4%

Lyon 55,5% -6,4% 92 € -2,5% 51 € -8,8% 57,9% 6,7% 103 € 8,5% 60 € 15,8%

Marseille 50,9% -5,6% 84 € -3,7% 43 € -9,0% 48,9% -7,5% 86 € -4,6% 42 € -11,7%

Montpellier 48,6% -14,5% 81 € -4,3% 40 € -18,1% 51,6% -1,0% 81 € -2,1% 42 € -3,1%

Nancy 52,3% 8,8% 78 € -3,1% 41 € 5,5% 46,0% 1,7% 78 € -2,5% 36 € -0,8%

Nantes 53,8% -7,9% 85 € -4,1% 46 € -11,7% 53,9% -2,3% 87 € -2,9% 47 € -5,1%

Niort 45,2% -15,3% 84 € -0,6% 38 € -15,8% 44,0% -13,3% 84 € 0,1% 37 € -13,2%

Nice 55,7% 16,6% 74 € -2,5% 41 € 13,7% 48,3% 16,2% 75 € -1,6% 36 € 14,4%

Pau 51,2% -0,2% 77 € -1,7% 40 € -1,9% 47,4% -3,4% 77 € 0,5% 37 € -2,9%

Reims 47,4% 2,7% 95 € 1,4% 45 € 4,1% 42,9% -2,9% 95 € -2,4% 41 € -5,2%

Rennes 49,4% -17,2% 89 € -9,5% 44 € -25,1% 49,4% -10,2% 91 € -2,8% 45 € -12,8%

Rouen 47,9% -1,9% 89 € -1,6% 43 € -3,5% 50,6% -2,1% 90 € 4,4% 46 € 2,2%

Strasburg 48,1% -12,8% 95 € -5,8% 46 € -17,9% 48,6% -10,7% 96 € -3,9% 46 € -14,2%

Toulouse 54,1% -8,1% 95 € -0,1% 52 € -8,2% 51,6% -6,2% 96 € 0,3% 49 € -5,9%



Luxury

Upscale


RevPARMidscale







Performances Main cities in RegionsFebruary 2015

Main cities in regions – Budget and Super Budget

14


Aix en Provence 43,5% -6,9% 59 € -2,5% 26 € -9,2% 43,1% -4,1% 58 € -4,8% 25 € -8,8%

Angers 57,2% -1,5% 73 € -2,5% 41 € -3,9% 55,5% 2,2% 71 € -3,2% 39 € -1,1%

Avignon 40,3% -0,1% 55 € -6,6% 22 € -6,7% 39,6% -2,5% 57 € -4,3% 22 € -6,7%

Bayonne-Anglet-Biarritz 51,2% 34,5% 49 € -8,3% 25 € 23,3% 44,5% 17,3% 47 € -12,5% 21 € 2,6%

Bordeaux 57,5% 5,9% 63 € -0,3% 36 € 5,6% 54,4% 4,5% 63 € -1,7% 35 € 2,7%

Dijon 63,8% -5,8% 59 € 0,0% 38 € -5,9% 57,3% -3,1% 60 € -0,4% 34 € -3,4%

Grenoble 56,8% -5,6% 60 € -4,1% 34 € -9,4% 51,8% -4,8% 61 € -3,7% 31 € -8,3%

Le Havre 41,6% -21,9% 58 € 2,8% 24 € -19,7% 38,8% -21,3% 58 € -2,5% 22 € -23,2%

Lille 61,4% 1,5% 68 € -1,9% 42 € -0,5% 60,4% 4,8% 71 € 0,9% 43 € 5,8%

Lyon 59,4% -3,6% 68 € -0,7% 40 € -4,3% 59,4% 4,6% 77 € 13,1% 46 € 18,3%

Marseille 54,2% 6,7% 61 € -5,0% 33 € 1,5% 50,0% 4,8% 61 € -5,9% 31 € -1,3%

Metz 48,5% -2,9% 61 € -6,6% 30 € -9,3% 47,2% 0,6% 60 € -9,5% 28 € -8,9%

Montpellier 54,7% -16,4% 65 € -4,9% 36 € -20,5% 58,0% -4,2% 67 € -0,3% 39 € -4,5%

Nancy 56,6% 1,9% 59 € -5,1% 33 € -3,3% 52,4% 5,2% 59 € -3,6% 31 € 1,5%

Nantes 54,8% -3,2% 62 € -7,1% 34 € -10,1% 52,5% -0,9% 65 € -4,8% 34 € -5,7%

Niort 48,4% -1,9% 58 € -12,8% 28 € -14,5% 44,3% -6,0% 59 € -9,3% 26 € -14,7%

Pau n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -


Rennes 58,9% -8,1% 64 € -11,6% 38 € -18,7% 57,9% -3,3% 65 € -6,8% 38 € -9,9%

Rouen 50,0% -7,6% 61 € 1,6% 31 € -6,1% 49,9% -3,7% 61 € 0,4% 31 € -3,3%

Strasburg 56,2% -9,9% 62 € -9,0% 35 € -18,0% 56,1% -6,7% 63 € -5,2% 35 € -11,6%

Toulouse 56,3% -12,0% 63 € -2,7% 36 € -14,4% 56,4% -2,6% 63 € -2,7% 36 € -5,2%



Angers 55,2% -7,4% 42 € 2,6% 23 € -4,9% 52,2% -6,6% 43 € 3,5% 22 € -3,4%

Avignon 55,0% -2,3% 32 € -5,0% 18 € -7,2% 50,6% -9,1% 33 € -3,4% 17 € -12,2%

Bayonne-Anglet-Biarritz n.d. - n.d. - n.d. - n.d. - n.d. - n.d. -

Bordeaux 60,0% -6,1% 36 € -0,2% 22 € -6,3% 57,0% -6,1% 36 € -0,5% 21 € -6,6%

Dijon 58,4% -9,8% 38 € -1,6% 22 € -11,2% 54,0% -7,2% 38 € -0,6% 21 € -7,8%

Grenoble 63,1% 1,6% 37 € -4,9% 23 € -3,4% 58,0% 5,2% 36 € -5,3% 21 € -0,3%

Le Havre 66,0% -3,9% 37 € -6,0% 24 € -9,7% 56,6% -11,8% 37 € -7,0% 21 € -18,0%

Lille 56,9% -4,8% 40 € 2,1% 23 € -2,8% 56,7% -0,1% 40 € 3,3% 23 € 3,1%

Lyon 66,3% -3,2% 40 € 2,0% 27 € -1,3% 63,6% 0,9% 42 € 7,1% 27 € 8,1%

Marseille 55,9% -3,4% 40 € -1,3% 22 € -4,6% 54,5% 0,7% 40 € -1,9% 22 € -1,3%

Metz 62,2% -3,0% 37 € 2,0% 23 € -1,1% 58,0% -4,3% 37 € 2,5% 22 € -1,9%

Montpellier 53,5% -14,7% 35 € 0,1% 19 € -14,6% 54,0% -5,6% 35 € 2,4% 19 € -3,3%

Nancy 54,0% -2,7% 39 € 4,0% 21 € 1,1% 51,2% -1,3% 39 € 4,4% 20 € 3,0%

Nantes 62,5% 0,8% 42 € -1,5% 26 € -0,7% 60,9% 3,2% 42 € -1,1% 26 € 2,1%

Niort 58,7% 11,5% 33 € -0,8% 19 € 10,6% 55,7% 5,7% 32 € -4,5% 18 € 1,0%

Pau 48,2% -7,2% 32 € -2,5% 16 € -9,5% 45,2% -5,8% 32 € -2,0% 15 € -7,7%

Rennes 55,1% -6,7% 39 € -6,6% 22 € -12,9% 54,1% -3,2% 40 € -4,2% 21 € -7,3%

Rouen 55,4% 5,5% 44 € 2,6% 24 € 8,2% 54,3% 4,4% 44 € 1,1% 24 € 5,6%

Strasburg 56,2% -13,0% 40 € 1,5% 23 € -11,7% 53,3% -12,7% 40 € 1,4% 21 € -11,4%

Toulouse 65,2% -5,0% 38 € -0,5% 25 € -5,5% 63,3% -0,9% 38 € -0,1% 24 € -1,0%




ADR RevPARSuper Budget

OR ADR RevPAR OR






Information

Definitions

15

Occupancy Rate (OR) : Rooms sold divided by rooms available multiplied by 100.

Rooms Available : The number of rooms times the number of days in the period.

Average Daily Rate (ADR) : Room revenue divided by rooms sold.

Revenue per Available Room (RevPAR) : Room revenue divided by rooms available.

ADR and RevPAR are expressed in Euros, excluding VAT

Categories

Luxury Hotels: France’s most prestigious hotels that distinguish themselves through their exceptional location,

building and design, as well their outstanding product and service quality. Highly reputed, these establishments

cater to a particularly discerning clientele.

Upscale Hotels: Hotels operating at the higher end of the market and consequently offering a wide range of

amenities. These establishments are less prestigious than Luxury Hotels and cater to a wider range of guests.

Midscale Hotels: Veritable bridge between higher category and entry-level hotels, Midscale Hotels benefit from a

wide range of facilities and amenities, but to a lesser extent than Upscale Hotels.

Budget Hotels: Hotels that offer a restricted range of facilities and amenities. Budget hotels primarily target those

guests particularly preoccupied by value for money.

Super Budget Hotels: Hotels that offer a ‘no frills’ approach, with a very limited range of services. Price is the

key decision-factor for guests.






Information

In Extenso – member of Deloitte

16

About Deloitte in France

Deloitte & Associés is the Deloitte Touche Tohmatsu member firm in France and the professional services are delivered by

Deloitte & Associés, its subsidiaries and affiliates. Deloitte calls on diversified expertise to cover the scope of services required

by its clients of all sizes from all sectors - major multinationals, local micro-companies and medium-sized enterprises. Our 6,000

professionals and partners embody the vigor and success of the Firm in their commitment to clients and their constant concern

for service excellence. Deloitte offers a very comprehensive range of services: audit, consulting and risk services, tax and legal,

accounting and corporate finance, in accordance with its multidisciplinary strategy and ethical approach. For more information,

visit www.deloitte.fr

About In Extenso

A member of Deloitte Touche Tohmatsu, In Extenso is an entity dedicated to small and medium-sized businesses. Almost

3 300 employees in 170 agencies in France serve 70 000 clients, including companies, firms, entrepreneurs, tradesmen and

women, self-employed lawyers and doctors, associations and local authorities.

Tourism, Culture & Hospitality Desk

In Extenso is one of the leading advisors in Tourism, Culture & Hospitality industries worldwide. We provide many consulting

services for different stakeholders of the tourism industry :

• Detailed market study

• Operational

recommendations to

respond to the

requirements of potential

clients

• Determination of the

product-service concept

• Determination of client

target the price

positioning

• Revenue estimations

(accommodation, food

and beverage, otherJ)

• Operating forecasts

over several years :

establishment of

expense items to

determine the project’s

profitability (GOP, cash-

flows

Market and feasibility

studies

Valuation of hotel and

tourist assets

• A detailed market

study

• Product analysis

(strengths, weaknesses,

necessary renovations

and refurbishments

• Forecasts over several

years

• The application of the

discounted cash-flow

method, completed by

market references

(recent and comparable

transactions) and the use

of the others methods,

specially adapted to each

case (multiple of turnover

or GOP, approaches

linked to the real estate

market, etc).

Urban tourism

development plans

• Dynamic review of

existing supply

• Analysis of the impact

of development factors

(economy,

transportation, tourist

markets, etc.)

• Analysis of

supply/demand situation

• Assessment of

development ambitions

and objectives

• Recommendations on

strategy

Human Capital

• Aligning Human

Resources with the

strategic goals of the

company

• Mastering operational

risks in terms of HR and

abiding by the

regulations

• Incorporating the

human dimension in all

your reorganization and

transformation processes

• Developing an

attractive and incentive

remuneration policy

Others services

• Hotel benchmark

survey

• Identification of

operators and investors

• Optimize your

information systems

• Marketing audits

• Quality control

• Organizational audits

and management

support

• Etc.


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