International Demand In Europe Unlikely To Return Until 2024
Government Restrictions Across Numerous Different Markets To Stifle Occupancy
31 March 2021
Germany has the largest economy in Europe and a hotel industry principally dependent on business and events, which likely will be the last demand segments to return to cities like Frankfurt. — Getty Images
International hotel overnights and business in Europe likely will not recover until 2024, while domestic demand will likely lead the way in 2021, as it did in 2020.
Speaking at the online Hotel Data Conference: Global Edition, Robin Rossmann, managing director of STR, said there are still moving parts, not least of which are changes to government restrictions. STR is CoStar's hospitality analytics firm. If things become better all round in 2023, then there's reason for optimism that recovery is only seven quarters away.
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