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COVID-19 webinar summary: 5 key points on Turkish hotel performance, 15 September

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 global recovery and the impacts of COVID-19 on Turkish hotels in addition to looking ahead at occupancy on the books.

Recovery varies significantly worldwide

Chinese hotel performance is near normal, while natural disasters are leading to a lift in occupancy in the U.S. Recovery presents as a mixed bag in Europe, with some markets faring better than others.

Turkey webinar 15 Sept - Recovery differs significantly by continent, country and market

Turkey one of the Europe’s recovery leaders

Turkish hotel occupancy was 43% for the week ending 6 September, well above neighboring Greece (26% occupancy) and Bulgaria (30% occupancy).

Turkey webinar 15 Sept - Booking lead times are short but there is business on the books

Strong recovery for the Turkish Riviera

While occupancy is nowhere near 2019 levels in Istanbul or the Turkish Riviera, the latter has experienced a much sharper recovery as borders open and tourists return.

Turkey webinar 15 Sept - Istanbul vs Turkish Riviera

Currency crisis impacts rate

The depreciation of the Turkish lira may make international travel to Turkey less expensive, but the lira’s devaluation has led to a nominal increase in average daily rate (ADR).

Turkey webinar 15 Sept - Regional markets showing more resilience in rate

Booking lead times remain short

While occupancy on the books remains low across Europe, data for the next two weeks is nearly 10 percentage points higher than occupancy on the books three or more weeks away, pointing to decreased booking lead times.

Turkey webinar 15 Sept - Booking lead times are short but there is occupancy on the books

For further insights into COVID-19’s impact on global hotel performance, visit our content hub.