The COVID-19 pandemic has caused unprecedented challenges for global hospitality, with travel restrictions and lockdown measures forcing hotel closures and performance declines that exceed the levels witnessed during the global financial crisis and other challenging times for the industry.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 15-21 June, is linked below.Key highlights:
European hoteliers breathed a sigh of relief in early May when the European Centre for Disease Prevention and Control (ECDC) announced that region had passed the peak of coronavirus infections. Now comes the hard part: building back revenue and profitability.
It's baby steps back to profitability, but amid a pandemic, no bad news is good news. Though the global hospitality industry is still in critical condition, it appears to be coming off life support and moving to intensive care, given the extraordinary circumstances foisted by COVID-19.
Reflecting the continued impact of the COVID-19 pandemic, Europe's hotel industry reported performance lows during May 2020, according to data from STR.Euro constant currency, May 2020 vs. May 2019
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 1-7 June, is linked below.Key highlights:
STR's preliminary data for Berlin hotels showed slight improvement from April but record lows for May. Comparison with May 2019:
Nearly 3 Million UK Travel & Tourism Jobs Could Be Lost Due to Prolonged Travel Restrictions, According to New Research From WTTC
Nearly three million jobs could be lost in the UK Travel & Tourism sector if barriers to global travel, such as quarantine measures and blanket anti-travel advisories remain in place, according to new research from the World Travel & Tourism Council (WTTC).
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 25-31 May, is linked below.Key highlights:
Data by SiteMinder, the global hotel industry's leading guest acquisition platform, today reveals a growing demand for travel within Europe has pushed total hotel bookings worldwide past a quarter of 2019 levels.