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.
STR and Tourism Economics forecasts will be available soon
Our third forecast update during the COVID-19 pandemic captures the full downturn and the likely recovery. If you are interested, please email forecast@str.com.
How long will it take Europe to recovery to occupancy levels of 40-50%?
Three months ago, China hit a 15% occupancy level, however, on 30 May, the market posted 47% occupancy followed by U.S (38%) and Middle East (38%). Europe occupancy, however, was just 15% on that same day.
First signs of performance recovery
The weekend of 29-31 May showed the first occupancy green shoots in Germany, Austria, Switzerland and The Netherlands. While Switzerland posted a 29% occupancy level, Germany and The Netherlands reached 23% occupancy.
After 3 months of negative pick-up, there isn’t much left on the books
Resilient Spanish Islands
Balearic Islands and Canary Islands have shown to be more resilient than cities like Madrid and Barcelona. Powered by Forward STAR data, the below image includes forward business on the books for the next 12 months as of 1 June, 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 sales@str.com.
For further insights into COVID-19’s impact on global hotel performance, visit our content hub.