The Caribbean’s Travel & Tourism sector is recovering at a faster rate than any other region in the world, with its contribution to GDP expected to rise more than 47% this year, compared to just 30.7% globally, reveals new research from the World Travel & Tourism Council (WTTC).
The U.S. hotel industry reported lower performance from the month prior, according to September 2021 data from STR.
After a difficult winter, Brazil’s hotel occupancy is once again on the rise, reaching 44% in August 2021, or about 74% of the 2019 comparable. While occupancy recovery has been slow, the country’s rebound in average daily rate (ADR) has been strong, with monthly rates even exceeding 2019 levels earlier this year.
In the first three quarters of 2021, approximately EUR 1.48 billion was invested in hotel properties in Germany. Compared to the same period last year (Q1-Q3 2020: EUR 1.70 billion), this represents a decline of about 13 percent.
Two of the four world regions, Europe and Asia Pacific, showed an increase in hotel pipeline activity at the end of the third quarter, according to September 2021 data from STR.
The survey of 9,074 consumers across France, Germany, India, Spain, Russia, Singapore, the UAE, the UK, and the US shows the appetite to travel is high. At the same time, it reveals that greater clarity on restrictions and guidelines will be key to unlocking increased traveler confidence.
The theme of the latest in the series of seminars hosted by HVS together with legal expert Bird & Bird, publishing group EP Business in Hospitality and restructuring advisory firm AlixPartners was resetting the hotel balance sheet to be fit for the recovery, and fittingly was the first in the series to be held as a hybrid event, with some 60 participants gathering in person in central London, while an international audience watched and asked questions over zoom.
Every industry experiences change, growth and evolution over time. The tourism and hospitality sectors are no exception, especially when major events come to town.
European travelers are set to become a key source market for the Gulf region, especially Gulf Cooperation Council (GCC) countries, which will help their post pandemic tourist industry recovery. Countries in the GCC include the United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain and they all offer a good range of flight options and a varied tourism product, which appeals to European travelers, says GlobalData, a leading data and analytics company.
Scandic’s net sales for the third quarter amounted to 3,734 MSEK while adjusted EBITDA totaled 709 MSEK. The company’s results were impacted positively by 132 MSEK of state aid received and a repayment of 44 MSEK related to over-consolidation from the insurance company AFA.
