WYSE webinar: STR insights on the impact of COVID-19 on the European accommodation market
With over half of humanity on lockdown, strict travel restrictions in place and air fleets grounded, the effects of the COVID-19 pandemic are being acutely felt throughout the travel and tourism industry. In the latest WYSE webinar, STR’s Kelsey Fenerty and Patrick Mayock presented data-based insights on how the European accommodation market has fared and what can be expect during the months ahead.
The full impact of the pandemic was not felt in the European accommodation market until mid-March 2020, when travel restrictions across Europe and the UK came into play. Accommodation providers across Europe saw a 92% loss of occupancy (year-on-year) during the week of 23 March, as travellers cancelled bookings. While European hotels and hostels continue to show bleak figures, occupancy rates in China are on the up as travel restrictions begin to lift and domestic travel resumes. According to STR, China is approximately two months ahead of Europe in terms of the effects of the outbreak and the signs of recovery offer a glimmer of hope for European accommodation providers.
For the full European accommodation market outlook provided by STR, click here to view the webinar. We also invite you to visit the STR Data Insights Blog for more industry analyses on the impact of COVID-19.
As the global industry association for youth, student and educational travel, WYSE Travel Confederation is monitoring the impact of the pandemic on travel and tourism organisations. To this end, we would appreciate your participation in the second edition of our monthly COVID-19 Travel Business Impact Survey.
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