STR COVID-19 Webinar Summary: 5 Key Points on Europe Hotel Performance, 21 May
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.
Barcelona: 96% of STR participating hotels closed
The majority of STR participating hotels are closed across Europe. As of 30 April, Barcelona showed the largest percentage of closures (96%), followed closely by Madrid (95%) and Athens (92%). Moscow and Saint Petersburg closures, however, were the lowest in Europe, at 15% and 19%, respectively.
Occupancy dropped in all countries in April
As occupancy of open hotels in Europe has dropped dramatically, Tbilisi posted the highest occupancy level in April (25%) followed closely by London (23%).
Business on the books shows highly subdued levels of demand
On average, for the next 90 days from 18 May, just 10% of the rooms are sold across a selected number of markets (Edinburgh, Belfast, Zurich, Amsterdam, Brussels, London, Barcelona and Madrid). Further insights are provided in the full webinar recording.
Booking cancellations have slowed across Europe
Aggregated pickup for the next 83 days shows a slowdown in cancellations over the last 12 weeks due to the lack of events left to cancel.
An update on Edinburgh's high-season business on the books
Powered by Forward STAR data, the below image includes forward business on the books for the next 90 days as of 18 May, and further insights are provided in the full webinar recording. Business-on-the-books intelligence will help us all understand recovery and provide much-needed context. Those insights can be accessed for free when you submit your data. If you are interested, please email [email protected].
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.