European hotel worths increase 3 % in 2022 in what showed a combined year for the sector. Find out more in our most current European hotel Valuation Index.
For Europe, some elements of2022were far better than anticipated, while others were much even worse. A few of
the crucial highlights of this eventful year exist listed below.
A sluggish start to the year due to the Omicron variation of COVID-19 paved the way to such a strong post-pandemic healing that by the end of 2022 most entrance markets were securely attaining RevPAR levels above those of 2019; this was generally driven by above-inflationary typical rate boosts. The now year-old war in Ukraine affected generally those markets that are geographically near the dispute and would usually count Russia as a substantial source market.
The strong boost of leisure need was crucial to the healing, as was the return of such necessary source nations as the USA. Satisfying groups, whether business or social, likewise went back to broadly 3 quarters of pre-pandemic volumes and are well on track for an impending complete healing. Business agreements have actually frequently ditched repaired, volume-driven rates for vibrant ones, general leading to favorable compromises for a section where remote working and Zoom conferences are most likely to have a long-lasting effect.
While 2022 worths, usually, additional recuperated compared to the previous year, they stayed listed below the 2019 peak.
Download the 2023 European hotel Valuation Index, by By Julia Dzerkach, Dannie Murphy and Sophie Perret
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