COVID-19 webinar summary: 5 key points on Poland, Czech Republic and Hungary hotel performance, 28 July
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Poland, Czech Republic and Hungary.
Eastern Europe road to recovery
After starting the year occupancy between 40-90%, markets in Poland, Czech Republic and Hungary reported steep declines between March and May with levels falling to roughly 10%. However, occupancy levels increased slightly during June and the beginning of July, especially in Tricity, Latvia and Slovenia.
Capital cities range from 10%-54% occupancy
For the week ending 19 July, occupancy of open hotels in Eastern European capitals ranged from 10%-54%. Among those capitals, Riga posted the highest occupancy level (54%), followed by Tallinn (39%) and Bratislava (32%).
Tricity on the rise
From 1-19 July 2020, Tricity posted a 51% occupancy level, the highest occupancy level in Poland during that period.
Regional markets are leading the recovery
Regional markets in Eastern Europe are leading the recovery while main cities have lagged. For example, Lithuania Provincial posted the country’s highest occupancy level (62.5%), while Vilnius occupancy was 31% for the week ending 19 July.
Help us launch Forward STAR in Eastern Europe!
With your help and participation, STR can launch Forward STAR in Eastern Europe. Business-on-the-books intelligence will not only help us all understand when recovery begins, and provide much-needed context, those insights can be accessed for free when you submit your data. If you are interested, please email email@example.com.