U.K., Poland and Ireland lead Europe hotel occupancy recovery
The U.K., Poland and Ireland are the three European countries to achieve occupancy indexes that are 80% or better of pre-pandemic levels, according to the latest preliminary data from STR that will be presented at the International Hospitality Investment Forum (IHIF).
As of 11 April, the U.K. showed a running 28-day occupancy that was 87% of the comparable 2019 level, and the country’s index has consistently been above 80 since 23 February. Poland (84.5) and Ireland (81.3) realized the next-highest occupancy indexes, but despite having the second-highest occupancy index, Poland’s levels have fallen over recent weeks after hitting an index peak of 94 on 29 March. As noted in an earlier analysis from STR, Poland experienced a lift in occupancy as a result of hosting refugees during the early days of the Russia-Ukraine war.
“Europe’s occupancy recovery has accelerated in recent months to 70% of pre-pandemic comparables,” said Robin Rossmann, STR’s managing director. “In general, leisure-dependent markets have been furthest ahead in the timeline, but there are encouraging signs recently of life returning to gateway cities that are more reliant on corporate demand. Our occupancy-on-the-books data shows that many of the major markets should recover to 90-100% of 2019 levels by mid-May.”
Rossmann will present at IHIF on Wednesday, 4 May, at 9:40 a.m. CEST. Also presenting from STR are Thomas Emanuel, director, on Tuesday, 3 May, at 5 p.m. CEST; Alexander Robinson, senior manager, on Thursday, 5 May, at 8 a.m. CEST; and Aoife Roche, commercial director, on 5 May, at 8 a.m. CEST.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
