Tourism in Paris was heavily impacted by the COVID-19 pandemic and travel restrictions, at a time when the market was recovering from terrorist attacks (2015/16), the yellow-vest movement (2018/19) and transportation strikes (2019). However, the strong government support combined with the city’s worldwide appeal have resulted in a dynamic rebound for the tourism sector.
Strong support from the French government combined with the continued worldwide appeal of Paris has resulted in a dynamic rebound for the city’s tourism sector post pandemic, ensuring its lead is maintained as one of the most desirable destinations for hotel investors, according to Paris – A Spectacular Start to the Recovery, our latest Market Pulse.
Experimental Group, the French-born contemporary hospitality group, has acquired two hotels, The Regina and Le Garage, in the coastal town of Biarritz, in the Basque region. The group continues its expansion into Europe and the US, after it announced a €350 million investment earlier this year.
According to the World Travel & Tourism Council (WTTC) visitors from overseas are pouring into the UK to join the celebrations marking Queen Elizabeth II’s Platinum Jubilee.
Horwath HTL Italy is pleased to release the Italy Hotels & Chains Report 2022. The industry-established reference for the Italian hotel branded supply is now in its 9th edition.
A very warm welcome to this latest country edition of the Horwath HTL Hotels & Chains report, which provides a snapshot of a fascinating moment in hospitality. Will we see the direction of the industry change forever?
The World Travel & Tourism Council (WTTC) has revealed Italy’s Travel & Tourism sector will provide a significant boost to the country’s economic recovery and could almost reach pre-pandemic levels next year, just 0.3% below 2019 levels.
Weakened traveler confidence, combined with strict COVID-19 measures, saw Poland’s outbound tourism numbers shrink to a fraction of what they were in 2019, says GlobalData. Figures from the leading data and analytics company reveal that outbound tourism from Poland declined by 62.7% year-on-year (YoY) from 2019 to 2020, to just 6.8 million international departures. However, international visits are projected to grow in 2022 and beyond as restrictions are eased across the globe.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in France will propel the national economic recovery and could even surpass pre-pandemic levels next year, when it is projected to rise 2.2% above 2019 levels.
Scottish-based hotel company Highland Coast Hotels has announced the acquisition of The Tongue Hotel as it also celebrates one year of investment in the North Highlands region.
The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals the Travel & Tourism sector in Germany will catapult the national economic recovery and could surpass pre-pandemic levels next year, nearly 2.5% above 2019 levels.
Tallinn is the cultural and archeological hotspot in Estonia. Estonia shares a 180 mile border with Russia (Estonian Prime Minister Kaja Kallas on war in Ukraine and the Russian threat | PBS NewsHour). Russia’s invasion of Ukraine has impacted Estonia’s economy through supply difficulties and higher inflation. Estonia has donated one-third of its military budget to Ukraine. Additionally, the country has welcomed around 40,000 Ukrainian refugees since February 2022. (Updates: Russia's invasion of Ukraine – reactions in Estonia (estonianworld.com)
The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals the Travel & Tourism sector in the UK is expected to create nearly 700,000 new jobs over the next decade.
The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals Turkey’s Travel & Tourism’s GDP is forecasted to grow at an average rate of 5.5% annually between over the next decade, more than twice the 2.5% growth rate of country’s overall economy.
London’s hotel industry reported its highest monthly occupancy level since February 2020, according to preliminary April 2022 data from STR.
During the Covid crisis, many hospitality players suffered, some weathered the storm and a few even thrived. As the pandemic finally recedes and another threat surges to the forefront, we take a look back at how hospitality has been reshaped by recent events in Switzerland. Two specialists from the EHL Hospitality Business School delve into the statistics before and during Covid, and draw some surprising conclusions. Dr. Stefano Borzillo, Associate Professor of Organizational Behavior, specializes in topics relating to individual and collective performance and for a more financial perspective, Dr. Augusto Hasman, also an associate professor at EHL, who teaches finance and risk management.
Among key hotel markets in Europe, Paris was the only one to achieve gross operating profit per available room (GOPPAR) that was 100% of the 2019 comparable, according to STR‘s March 2022 P&L data release.
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As 2022 moves further into spring and the summer months draw nearer, many markets around the world are seeing pent-up travel demand bolstering their hotel occupancy on the books. A good example can be found in Belfast, where the growing desire to travel and a variety of big-name events are leading to a positive performance outlook for hotels in Northern Ireland’s capital.
Sonder Holdings Inc. (“Sonder”, Nasdaq: SOND), a leading next-generation hospitality company that is redefining the guest experience through technology and design, is more than doubling its total live and contracted units in Spain by securing two additional prime properties in Barcelona and Madrid.