Hotel Industry in Europe: A Very Gradual Recovery Expected in 2021 (Study)

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Très éprouvée par la crise sanitaire, l’industrie hôtelière en Europe connatra une reprise très progressive en 2021, conditionnée a l’avancée des campagnes de vaccination, tandis que la France, en retard sur ce robust plan, devomm bénéficier de sa robuste According to a study.

The Covid-19 epidemic caused the sector to lose 115 billion euros in sales volume in 2020, according to a study by credit insurance specialist Euler Hermes and published on Wednesday, the health measures aimed at containing the epidemic, have had a “significant impact”.

He explained that the United Kingdom, Italy and Spain are “the most affected countries”, with the hotel sector turnover declining in 2020 by -53%, -61% and -64%, respectively. France (-43%, or 13 billion less) and Germany (-44%), “knew how to take advantage of the summer to limit losses.”

While the health situation “remained complex in the first quarter,” the second half should see a rebound in hotel activity in Europe, Euler Hermes believes, “depending on the progress of national vaccination campaigns,” and has pledged to ease health restrictions.

According to the study, sales of the European hotel sector are expected to rebound by + 28% in 2021, of which + 23% in France and + 18% in Germany. Despite this recovery, activity is expected to remain 29% below its level in 2019 in France, whose vaccination campaign is being delayed, according to the study.

However, domestic demand – French residency in France – should support the sector, as in the summer of 2020, while regions that rely heavily on international tourism such as Ile-de-France, “should not see any major improvement before the end of the year. .

In Germany, activity is expected to remain below 2019 levels by more than a third (-34%). If the country is “ahead” in terms of vaccinations, in continental Europe and must also benefit from the consumption of its own citizens, it still faces “severe restrictions” in the first quarter, which will only be eased very gradually.

Thanks to the rapid pace of vaccinations, the UK should be able to reopen its hotels on May 17th, but this “partly compensates for the terrible first quarter” and the sector is expected to show a 38% drop this year, compared to 2019.

As for Italy, it may record a strong rebound (+ 40% compared to 2020) in activity in 2021, but this will remain down by 45% compared to 2019. Spain will see a recovery in its hotel activity of + 30% this year, but it will be reduced by 54%, and still underreported in 2019.

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