COVID-19 sparks a dramatic 46.9% collapse in the sector's contribution to GDP More than 440,000 jobs lost, while many more remain protected by the Kurzarbeit schemeHowever, the return of international travel this year could see GDP contribution rise sharply and jobs return
London's short-term rental industry recorded a month-over-month increase in occupancy but continued decreases in average daily rate (ADR) and revenue per available room (RevPAR), according to February 2021 data from STR.
The World Travel & Tourism Council's annual Economic Impact Report (EIR) today reveals that the dramatic collapse of the UK's Travel & Tourism sector has wiped out a staggering £148 billion from the UK economy.
STR's preliminary February 2021 data for London hotels shows slightly better performance compared with the previous month, albeit at low levels influenced by continued restrictions in the U.K.
London's short-term rental industry recorded a month-over-month increase in occupancy but declines in average daily rate (ADR) and revenue per available room (RevPAR), according to January 2021 data from STR.
Whilst we appreciate the need to be careful about when and how the hospitality industry, and specifically the accommodation sector, reopens, we also need to make sure that no business is disadvantaged in the meantime and that we work together to make 2021 a year to make up as much of the lost ground caused by the pandemic as we can.We have four specific asks of Government:
STR's preliminary January 2021 data for Berlin hotels showed slightly higher performance levels compared with the previous month but at overall low levels.
Latest research shows the ongoing restrictions to travel and blanket quarantines has seen the UK suffer greater GDP losses than many of its European counterparts which have less stringent barriers in place, says the World Travel & Tourism Council (WTTC)
Glasgow's hotel occupancy on the books is pushing 90% for the UN Climate Change Conference, and London is showing increases around two key sporting events, according to data from Forward STAR, STR's forward-looking benchmarking solution.
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.
The first hotel market sentiment survey conducted in Ukraine as a combined effort of the Ukrainian Hotel & Resort Association (UHRA) and Horwath HTL Hungary. The report gives an overview on how much the local hotel industry has been impacted by COVID-19 and what local hoteliers believe the future holds. The results are somewhat surprising as in some instances they are more optimistic than what we have experienced elsewhere in CEE.
London's short-term rental sector reported its lowest levels in occupancy and revenue per available room (RevPAR) since the summer, according to December 2020 data from STR.
STR's preliminary December 2020 data for London hotels showed slightly higher performance levels compared with the previous month. Year-over-year declines remained significant.
STR's preliminary November 2020 data for London hotels showed lower levels compared with previous months.
The short-term rental sector in London reached its highest occupancy level since February, according to October 2020 data from STR.
Hotel insolvencies caused by the pandemic are likely to increase through 2021 according to experts speaking at a global webinar held 24 November organized by HVS, AlixPartners, Bird & Bird and EP Magazine.
STR's preliminary October 2020 data for London hotels showed relatively flat occupancy compared with the previous month. Year-over-year declines remained significant. Comparison with October 2019:
Hotels are suffering amid a dramatic drop in demand. the covid-19 crisis hit hard the Greek hospitality sector as travel for business and leisure dried up. Our analysis shows that through the end of September 2020, room revenue of hotels in Athens and Thessaloniki dropped y-o-y by 79% and 67% respectively. Total revenue of city hotels located elsewhere declined by 63% y-o-y YTD Q3 2020, while resort hotels registered a staggering drop of 79% y-o-y during the same period.
In the bleakest outlook since benchmarking began, hotel occupancy rates in 2021 are forecast to be 55% across the UK, and could take four years to return to pre COVID-19 levels. This is a stark reality for a once optimistic industry, which had seen a decade of growth post the global financial crisis.
Merilee Karr, Chair of the UK Short Term Accommodation Association (STAA) and CEO of UnderTheDoormat, has written to the Chancellor, Rishi Sunak, on behalf of the STAA's members asking for visitor accommodation businesses to be given additional government support as it faces into an autumn and winter season where tighter travel and hospitality restrictions will impact jobs and businesses.