How long will it take Europe to recover to occupancy levels of 40-50%?
Almost four months ago, China hit a 15% occupancy level, however, on 27 June, the market posted 47.1% occupancy followed by U.S (46.3%) and Middle East (33.7%). Europe occupancy, however, was 25.3% on that same day.
Countries ranges from 10%-40% occupancy
For the week ending 28 June, occupancy of open hotels in European countries ranged from 10%-40%. Among those countries, Israel posted the highest occupancy level (41%), followed closely by France (34%) and Spain (32%).
Regional markets are leading the recovery
Regional markets in Europe are leading the recovery while main cities have lagged. For example, Finland Provincial posted the country’s highest occupancy level (66%), while Helsinki occupancy was 23% for the week ending 28 June.
Can Spain save its summer season?
Powered by Forward STAR data, the below image includes business on the books for the next 90 days (as of 29 June) in the Spanish Islands, 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.
STR and Tourism Economics forecasts
To learn more about the data behind this article and what STR has to offer, visit https://str.com/.
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