New data from the World Travel & Tourism Council (WTTC) shows the UK’s Travel & Tourism sector is recovering, with the country’s GDP predicted to rise to £192 billion, just 19% below pre-pandemic levels by the end of 2022.
London’s hotel market will return to pre-pandemic performance levels but is unlikely to return to growth until at least 2024/25. This was the conclusion of the 15th hotel webinar organised by consultancy HVS, legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners, held yesterday (9th February 2022).
The number of rooms in operation during 2021 in both the Athens and Thessaloniki market reached a level of 79% compared to the pre-pandemic levels of 2019. At the beginning of 2021 many hotels remained closed and slowly opened up after the announcement of the Greek Government on May 14th 2021 to open up tourism. During the last quarter of 2021 both markets operated at full capacity.
Beaumier, the hotel group for those who are looking for an escape in a unique and authentic setting, today announced the acquisition of three hotels in Switzerland’s Alpine region of Wengen for an undisclosed amount. The three hotels are located right in the centre of the village with ski-in, ski-out capabailities and magnificient views to the Jungfrau and the Lauterbrunnen-valley.
Stoneweg Hospitality (“Stoneweg”) and Bain Capital Credit, LP (“Bain Capital Credit”), via their real estate hospitality joint venture (the “JV”), have signed an agreement to acquire the group of companies that owns and operates the Hotel Los Monteros Spa & Golf Resort in Marbella, Spain. It is the second investment undertaken by the JV in the Marbella area following the acquisition of the Andalucía Plaza hotel in Puerto Banús in 2021, which is currently being converted into the Hard Rock Hotel Marbella.
Recovery is finally underway for the UK hospitality sector. Despite some bumps along the way, 2021 saw some of the best performance metrics ever, with room prices reaching levels never previously achieved in some markets.
Amid increased COVID-19 cases, London’s hotel industry reported lower occupancy but higher room rates, according to preliminary December 2021 data from STR.
For the first time since the start of the pandemic, the performance of London’s hotels was more encouraging than regional hotels across the UK, according to research from Knight Frank, the leading independent global property consultancy.
Lifted by the upcoming holiday season, hotel occupancy on the books is rising in Paris with a peak of more than 70% on New Year’s Eve, according to STR’s Forward STAR.
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in France.
Amid rising COVID cases and subsequent restrictions, Berlin’s hotel industry reported lower occupancy but higher room rates, according to preliminary November 2021 data from STR.
Craig Bonnar, Chief Executive commented: “Following the lifting of all Covid-19 restrictions Travelodge has delivered a record trading performance in quarter 3. We saw a significant increase in demand post 19 July, with very strong levels of domestic leisure demand across the UK this summer, good ‘blue collar’ business demand and we also benefited from the reduced VAT rate."
London’s hotel industry reported its highest performance levels of the pandemic-era, according to preliminary October 2021 data from STR.
New research from the World Travel & Tourism Council (WTTC) reveals the France’s Travel & Tourism sector’s recovery could achieve a growth of 34.9% this year.
Paris 2024 President Tony Estanguet and Chairman and CEO of the Accor Group Sébastien Bazin announced a partnership between Paris 2024 and Accor at the Destination France Summit, which took place today in Paris and was attended by the French President Emmanuel Macron. Accor, a leading global hotel group and the largest hotel operator in France, thereby becomes an official partner of the Olympic and Paralympic Games Paris 2024. Accredited personnel will enjoy the full extent of Accor’s savoir-faire as it greets and provides them with accommodation all over France. More particularly, the group will offer its services to athletes and the media in their respective villages.
This newsletter provides a snapshot of the performance and outlook of the Greek hotel industry, within the broader context of the international hospitality industry as well as of Greek tourism and Greek socio-economic developments.
STR and Cushman & Wakefield jointly produce the Hotel Sector Barometer for Spain, showing an upward trend during the third quarter of 2021, which is the first time since the pandemic started in March 2020. The vaccine rollout and the disappearance of most restrictions have enabled the hotel sector to begin the recovery process. This is expected to be faster within the leisure sector.
Throughout this release all percentage growth comparisons are made on a two-year basis, comparing the current year (FY22) performance for the 26 weeks to 26 August 2021 to the same period in FY20 (26 weeks to 29 August 2019), with FY20 being the last financial period before the onset of the COVID-19 crisis
After the most volatile trading period since benchmarking began, the PwC Hotels Forecast 2021-2022 reveals the green shoots of recovery as demand returns. Though performance is not expected to return to pre-pandemic levels by Q4 2022, there are finally encouraging signs for hoteliers.
Trading at UK hotels is not expected to return to pre-pandemic levels by the end of 2022 despite encouraging signs for hoteliers.