COVID-19 webinar summary: 5 key points on U.K. & Ireland, 24 April
Knowing you might not have time to watch our full webinars, we’re pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in the Regional U.K. as well as business on the books in London and Europe recovery forecast.
Regional U.K. occupancy drops as number of cases increase
Occupancy has been decreasing as the number of COVID-19 cases rises in the Regional U.K. Occupancy started to decrease before government measures to combat the spread of COVID-19 due in part to travel restrictions in other countries.
Strong demand on the books in Edinburgh and Glasgow
Edinburgh and Glasgow are holding up relatively strong with the demand on the books when we look into the summer. However, Edinburgh had seen already some large events cancellations, such as 2020 Edinburgh Festival Fringe.
London: a few green shoots after summer
Business on the books remains around 10%-12% for every month until September—the London Center South submarket is the exception.
Ireland RevPAR drops 90% as number of cases increase
RevPAR has been decreasing as the number of COVID-19 cases rises in Ireland. On 21 March, RevPAR declined 90%. RevPAR declines were due to the impact of COVID-19 as well as new supply coming into the market and events dates shift compared with last year.
Europe RevPAR forecasted to see recovery in 2021
Europe hotel performance is forecasted to see recovery in 2021. Europe is expected to see double-digit increases in RevPAR (+41%) next year.