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Travel

Impact on forward hotel bookings in key European markets

Source: https://str.com/data-insights-blog/covid-19-impact-forward-hotel-bookings-key-european-markets

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. An area of the industry where the impact continues to evolve is business on the books, or reservations booked for future dates.

To provide a forward-looking view of the COVID-19 impact on hotel performance, STR utilized data from Forward STAR to analyze business on the books for key European hotel markets

Forward STAR data is processed on a weekly basis for the next 90 days as well as once a month for the next 360 days. As of 15 June, most European capitals were not showing forward occupancy above 20% for the next 90 days.

A few exceptions

In Edinburgh, forward occupancy is 31% for 11-12 September 2020.

Dublin is another market bucking the trend on 11-12 September 2020, which can be attributed to the fact that major events have not yet been cancelled. For instance, Dublin Fringe Festival (5-20 September 2020) remains on the calendar.

“Green shoots” in short lead-time business on the books

Although the summer months are still under the pressure of cancellations, we see pickup in short lead-time bookings. In Edinburgh, Dublin and London, we see 0% pickup for the “Next 19 days” as of 15 June. However, Zurich saw a 3% average pickup for the same period reaching a 6% pickup on 15-17 June. Amsterdam, Brussels, Barcelona and Madrid reported a 1% average pickup for the same period.

To learn more about the data behind this article and what STR has to offer, visit https://str.com/.

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Advan provides hedge funds and institutional investors with unmatched insights into both foot and vehicle traffic to enable better investment decisions. Using precise, manual geofencing, it has the most extensive and accurate location data, available in seconds through an intuitive, self-service dashboard. Its institutional-grade analytics allow fast and actionable insights into customer behavior and corporate activity.

Advan is headquartered in New York City. For more information please visit www.advan.us

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LET US HELP

Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

Advan

Advan provides hedge funds and institutional investors with unmatched insights into both foot and vehicle traffic to enable better investment decisions. Using precise, manual geofencing, it has the most extensive and accurate location data, available in seconds through an intuitive, self-service dashboard. Its institutional-grade analytics allow fast and actionable insights into customer behavior and corporate activity.

Advan is headquartered in New York City. For more information please visit www.advan.us