This article examines how UK hotels are likely to recover from the COVID-19 lockdown as restricitons are gradually eased. It covers the impact of international visitation on different UK regions and how different market segments will have an income on the recovery.
The increasing concern over the COVID-19 implications on the travel and tourism sector coupled with a challenging economic outlook for the GCC region will have a major impact on the recovery of the hotel sector. Although COVID-19 has challenged our fundamental forecasting approach that typically relies on predictable market trends and metrics, we share our assumptions pertaining to what the recovery model may look like for select cities in the GCC and the likely impact on EBITDA.
While the pandemic is anticipated to prolong, hotels should start to draw up plans in preparation for a recovery. In the meanwhile, it is the perfect time to relook into operational strategies, cost-saving initiatives, refurbishment, marketing distribution channels, staff training and technology upgrade.
This article attempts to assess the impact of COVID-19 on hotel occupancy levels in hotels in Athens and Thessaloniki for 2020 by developing a market simulation featuring three different scenarios, each one of them reflecting the range of potential recovery of the hotel sector.
Total European hotel transaction volume reached €27.1 billion in 2019. This represents a significant increase of 46% on 2018 and is the highest annual level ever recorded, surpassing the previous peak of €23.7 billion in 2015.
Orlando has long been distinguished as an iconic vacation destination by continuing its ranking as the No. 1 destination in the United States, according to Visit Florida. Since 2013, Orlando has reigned as the nation’s “Most Visited Tourist Destination.” With multiple factors driving Orlando’s appeal, hotel investors and developers are curious as to what is on the horizon for the hospitality market in Central Florida.
HVS London has identified five key issues that hotels need to consider as we move into the new decade, including the fact that travellers are now expecting a more personal service, the issue of corporate responsibility and the importance of attracting and retaining good staff.