Hotels in the UK are experiencing a post-Covid rebound according to the latest research from global property adviser Knight Frank. London hotels achieved an occupancy rate of 82% in June 2023, a rise of 3.2 percentage points year-on-year, whilst hotels outside the capital recorded growth of four percentage points to almost 81% occupancy versus 2022.
Mainland Europe is a hub of activity throughout the summer months with millions of global travelers flocking to key destinations for a mixture of sun, culinary delights, and culture. The consistently strong demand allows hoteliers in key summer destinations to strategize with confidence. This summer, however, there is one destination that has exceeded all expectations. The following analysis highlights how Italy’s hotel sector is thriving in bookings and room rates in addition to assessing how online trends set up a summer to remember for Italian hoteliers.
UK hotel transaction volumes have remained resilient in the first half of 2023 despite market headwinds, supported by the private markets (with sub-£15M ticket sizes) and value-add opportunities with compelling growth stories. Further volumes have been supported by office conversions, with hotels stacking up in the right locations.
Festival season continues to bring the heat following IHG Hotels & Resorts’ successful partnerships with some of this summer’s hottest music festivals, including The Governors Ball and Lollapalooza in the U.S., and most recently Wilderness in the U.K. IHG is making festival weekends unforgettable for IHG One Rewards members and festivalgoers alike, bringing exceptional care and unexpected memorable experiences.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Germany’s Travel & Tourism sector is recovering at pace to recover to within 95% of pre-pandemic levels.
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.
Speaking at a panel session at the Hyatt Regency Pravets Resort in Bulgaria today, World Travel & Tourism Council (WTTC) President & CEO Julia Simpson revealed that the WTTC 2023 Economic Impact Research (EIR) today forecasts that 10% of the Bulgarian economy will come from Travel & Tourism by 2033.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals Italy’s Travel & Tourism sector is recovering strongly post-pandemic.
Berlin’s hotel industry recorded its highest performance since September 2022, according to preliminary June 2023 data from STR.
In the latest updates on the regional market performance of the hotel industry in the United Kingdom, we share year-to-date data from May for 2023 compared to the same period in 2022 and 2019, according to HotStats’ monthly Hotel Benchmarking reports.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year.
Italy is seeing a growing investment appetite for luxury branded hotels, according to the latest study from Global Asset Solutions.
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Greek Travel & Tourism sector is projected to near pre-pandemic levels this year.
The Magic City, so named because its soil contains the three elements needed to produce iron, was able to steel itself against long-term hospitality demand loss in 2020 better than many hotel markets across the U.S. The city’s proximity to outdoor demand generators, its rapidly growing sports entertainment industry, and the dedicated work of local municipal offices and aid organizations were all important factors that supported the swift recovery of Birmingham hotels.
C&W Hospitality Market Beat – Greece Q1 2023While the Greek hospitality industry is facing staff shortages and rising operational costs, the sector continues to show remarkable recovery after the pandemic. According to the Bank of Greece, the tourism sector in Greece experienced a surge in activity during Q1 2023, with international visitor arrivals soaring by an impressive 74.7% compared to the same period in 2022. the turnover of hospitality enterprises grew by 28.6% in Q1 2023 (year-on-year), to reach €375 million, with Thessaloniki-based enterprises recording the highest increase at 70.9%. Similarly, restaurant businesses reported a 27% increase in turnover, totalling €1.5 billion during the same period.
The Dutch hotel industry is recovering well from the corona crisis. The somewhat ailing economy does not apply to hotels. Hotel real estate has clearly presented itself as a stable and solid asset class, says Ewout Hoogendoorn of Horwath HTL during PROVADA 2023.
London’s hotel industry reported its highest revenue per available room (RevPAR) since October 2022, according to preliminary May 2023 data from STR.
Over two fifths of the UK’s hospitality businesses are operating at a loss, with the vast majority eyeing price increases during the next year, new research by Peckwater Brands has found.
Beautiful whitewashed houses adorning green hills overlooking the shimmering Mediterranean Sea, crystal-clear waters, golden shores, bougainvillaea-filled alleys, cobbled pedestrian streets, a vibrant nightlife, and exquisite accommodation are just a few components of a Paros vacation that will capture your heart for eternity. Whether you are after utmost pampering and VIP experiences or more authentic and relaxed ventures, the Cyclades island is a dream destination, indeed. Although not as popular as its other siblings, such as Mykonos and Santorini, it, too, bewilders with its own special appeal. Among the many options available, the best accommodation is an issue many visitors wonder about. Here are some basic details to help make up your mind!
Amsterdam’s hotel industry reported its highest average daily rate (ADR) and revenue per available room (RevPAR) for any month on record, according to preliminary April 2023 data from STR.