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COVID Impact On Hotel Industry In Europe 2020-2025

01-08-2021 01:09 PM CET | Tourism, Cars, Traffic

Press release from: Mobility Foresights

Rising numbers of tourists throughout Europe Worldwide tourism has increased strongly in recent decades. In Europe, one of the most visited regions in the world, the numbers rise year after year.

Europe hotels reported occupancy fell 44.6% to 43% in August. ADR dipped 13% to €103.95 ($121.37) and RevPAR decreased 51.8% to €44.69 ($52.18) for the month of August 2020

The absolute occupancy and RevPAR levels were up significantly from July but remained the lowest for any August on record in Europe. Each of the metrics were the highest for the continent since February.

Performance data for the first half of the year compared with 2019 show how dramatic the effect on the hotel sector has been owing to the health crisis situation.

The last six months have seen some unprecedented changes in the hotel sector with dramatic declines in RevPAR, the closure of many hotels and the furloughing of many hotel employees. Government support has been evident for both staff and owners in many countries and, as these measures are eased, it is likely to result in a number of permanent job losses throughout the sector.

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A vaccine will help to accelerate some of this growth but, in any event, it is certain that the hotel sector will eventually produce strong returns again and remain attractive to investors who recognise their longer-term earnings potential.

European hotel transaction levels had increased by a considerable range as compared to last year. Leased hotels (the lowest risk operating model primarily preferred by institutional investors) constituted some 40% of transactions, compared to approximately 20% last year. The UK is leading the rankings as the strongest investment market in Europe.

Guest perception and sensibilities regarding safety, hygiene and social distancing will determine much of these new hotel products and amenities.

Germany and the UK account for nearly 60% of pipeline rooms currently under construction and are expected to absorb additional supply in the medium term due to strong tourism growth forecasts.

Hotel construction continues in Europe despite the pandemic, with investors looking to Germany to set the tone for the rest of the continent

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COMPANY PROFILES
Marriott International
Choice Hotels International
Hilton Worldwide
G6 Hospitality LLC
Extended Stay America
Wyndham Hotels & Resorts
InterContinental Hotels Group
AccorHotels
Hyatt Hotels Corporation
Best Western

THIS HOTEL INDUSTRY IN EUROPE REPORT WILL ANSWER FOLLOWING QUESTIONS
1. Hotel Industry In Europe size and Forecast , by region, by application
2. Average B-2-B price for Hotel Industry In Europe, by region, per user
3. Technology trends and related opportunity for new Hotel Industry In Europe tech suppliers
4. Market share of leading vendors, by region,
5. Coronavirus impact on Hotel Industry In Europe earnings

Media Contact
Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: sales@mobilityforesights.com
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

Company Name: Mobility Foresights
Contact Person: Kunal Roy
Email: sales@mobilityforesights.com
Phone: +1-315-675-4056
Address: P3&P4, HAL 3rd Stage
City: Bangalore
State: Karnataka

We are among the very few market research firms globally, specialized in mobility domain(s). Our zone of research entails automotive, aerospace, marine, locomotive, logistics and construction & agricultural equipment.We deal in syndicated research, custom research and consumer research for all the above domains mentioned.

We envision the future of mobility every single day, following mobility domains is not just our profession rather it’s our passion. We are here, just to serve you in the most ideal way and your fulfillment is above everything else.

The consistently changing business sector progression in mobility space has put considerably more accentuation on looking at advertise knowledge before your peers. An important market insight, when learned at opportune time, could be the distinction between a decent and a terrible business choice.

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