Income before fixed charges per available room, a proxy measure of profit, leaped by a massive 51.4 per cent to Eu106.09 in the French capital. This means that the profit per available room in Paris was greater than the revenue per available room in all of the cities in the survey, except for London and Moscow.

However, Moscow held onto top place as the most profitable city with IBFC PAR up 20.3 per cent to Eu198.43. This was sustained by an enormous hike in average room rate of 34.4 per cent to Eu242.82 and despite payroll costs edging up 3.6 points to 19.3 per cent.