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.
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.
Late last year, STR’s initial analysis of the upcoming Commonwealth Games showed the early event impact on hotel occupancy on the books and pickup in Birmingham, England. This latest update with Forward STAR data shows an even further uptake in hotel booking levels now four months out from the arrival of the games.
Berlin’s hotel industry reported month-over-month performance improvement, according to preliminary March 2022 data from STR.
With traveler confidence taking yet another hit amid the rising cost-of-living across Europe, Turkey* will emerge as the destination of choice for budget-conscious travelers in 2022, finds GlobalData, the leading data and analytics company.
London’s hotel industry reported month-over-month performance improvement, according to preliminary February 2022 data from STR.
WorldHotels™ today announced the addition of five new properties to the brand’s newest collection of hotels: WorldHotels Crafted Collection. The Hotel Kung Carl, NOFO Hotel, The Winery Hotel, Hotel Frantz, and Hotel Ruth, all located in Stockholm, Sweden, have joined the exclusive portfolio of WorldHotels Crafted Collection hotels and resorts.
Two years on from the start of the Covid pandemic, the full extent of the damage done to the once vibrant hospitality industry has been revealed – a massive and devastating £115bn loss.
With tight pandemic restrictions, Berlin’s hotel industry reported lower performance than months prior, according to preliminary January 2022 data from STR.
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.
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.