Bouncing back to profitability is proving a Sisyphean task for U.S. hotels. The rest of the world is having a slightly easier path.
Reflecting a post-summer lag in demand, Europe's hotel industry reported slight performance decreases from the prior month, according to September 2020 data from STR.Euro constant currency, September.
STR's preliminary September 2020 data for London hotels showed lower occupancy but higher room rates when compared with August. Year-over-year declines remained significant. Comparison with September.
Major economies in Europe, including the U.K. and those in the Eurozone, recently confirmed what we already suspected. Economies across the continent have entered an economic recession because of the impact of COVID-19—an impact that has been devastating for the hospitality industry.
Staycation' was undoubtedly the travel buzzword of 2020. With travel restrictions limiting people jetting off to far-flung destinations this year, Brits looked to explore what was on their very own doorstep more so than ever before.
Horwath HTL Hungary, in cooperation with the Hungarian Hotel & Restaurant Association, provides a snapshot report based on a national online sentiment survey to reflect on the unprecedented challenges in 2020, through the first- hand feedback of hoteliers.
Europe's hotel industry reported its best performance levels since February, according to August 2020 data from STR.Euro constant currency, August 2020 vs. August 2019
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Europe as well as our latest forecast updates.
Each week, STR analysts provide a deep-dive into U.K. hotel performance. The most recent video, highlighting performance for the week of 31 August through 6 September, is linked below.Key highlights:
STR's preliminary data for London hotels showed higher performance from previous months but at levels significantly lower than historical averages. Comparison with August 2019: